Daily Forex Commentary

16 January 2017 - BOC Rate Announcement on Wednesday

By Calvin Kuk
US Dollar vs Canadian Dollar: Mute in North America as the US markets are closed to observe Martin Luther King Day. On Wednesday this week the US releases key fundamentals CPI f... read more

13 January 2017 - Core Retail Sales Missed Target

By Frederick Cheng
US Dollar vs Canadian Dollar: Event risk for North America is all US data today with Retail Sales sighted at 0.6% while Core Retail Sales missed at 0.2%, PPI m/m posted 0.3% with... read more

12 January 2017 - The Saudis Lift Oil and the Loonie

By Calvin Kuk
US Dollar vs Canadian Dollar: The Canadian dollar strengthened against the greenback breaking through the USDCAD 200 day moving average a major support level for the pair. The mo... read more

11 January 2017 - Soft Loonie in Early Trade

By Calvin Kuk
US Dollar vs Canadian Dollar: Narrow consolidation for the loonie against the USD again overnight and no fundamentals for Canada turns the focus on the technicals. Medium and sh... read more

10 January 2017 - Canadian Housing Starts Jump in December

By Calvin Kuk
US Dollar vs Canadian Dollar: Housing starts and building permits are on deck for Canadian economic data today forecasts are for 195K and 2.4% respectively, and both sighted at 2... read more

09 January 2017 - Loonie is Relatively Flat

By Calvin Kuk
US Dollar vs Canadian Dollar: The USD is broadly higher against most of its G- 10 counterparts to reverse last week’s loss. The week ahead will have plenty of US data to in... read more

06 January 2017 - Canadian data stronger than expected

By Frederick Cheng
US Dollar vs Canadian Dollar: Canadian employment data today was forecasted at zero and yet forecasts are showing a slight rise in the unemployment rate from 6.8% to 6.9%. Data r... read more

05 January 2017 - Too much uncertainty for the BOC

By Frederick Cheng
US Dollar vs Canadian Dollar: The Canadian dollar against the greenback trades back to levels it closed at in the NA session yesterday after bouncing off the 100 DMA in the Asian... read more

04 January 2017 - The greenback is trading on cautious market sentiment

By Frederick Cheng
US Dollar vs Canadian Dollar: The greenback is trading on cautious market sentiment this morning and is down against all its G10 trading peers. The only fundamental due today is... read more

03 January 2017 - Canadian fundamentals are light today

By Frederick Cheng
US Dollar vs Canadian Dollar: Canadian fundamentals are light today with the focus on Trade Balance and Employment Data out for Friday morning. WTI crude has reached 55 dollars ... read more

30 December 2016 - The USD is under pressure today

By Frederick Cheng
US Dollar vs Canadian Dollar: The USD is under pressure today as markets are vulnerable to rebalancing flows in thin marketing liquidity. Gold tested a new two week high above $1... read more

29 December 2016 - Commodities are mixed

By Frederick Cheng
US Dollar vs Canadian Dollar: The USD is trading weaker against most of the G10 currencies today. Commodities are mixed with oil hovering around $54 bbl and gold trading slightly... read more

23 December 2016 - Canadian GDP Falls Short of Expectations

By Calvin Kuk
US Dollar vs Canadian Dollar: Yesterday was not a very strong day fundamentally for the US and Canada. Most US fundamentals fell just shy of expectations including Durable Goods... read more

22 December 2016 - Canadian CPI and Retail Sales due at 8:30 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: It’s been a fairly quiet last 24 hours in currency markets. In fact, VIX (CBOE Volatility Index), a key measure of market expectations of near... read more

21 December 2016 - US Crude Oil Inventories at 15:30 EST.

By Calvin Kuk
US Dollar vs Canadian Dollar: Canadian Wholesale Sales in October released yesterday afternoon and it was better than expected at 1.1% when forecast was for 0.5%. The combinatio... read more

20 December 2016 - The market reaction to the terrorist acts has been relatively subdued

By Frederick Cheng
US Dollar vs Canadian Dollar: The only data on the economic calendar in North America is from Canada today. Medium tier data is expected to show Canadian Wholesale Sales for Octo... read more

16 December 2016 - USD/CAD is 300 bps Higher Since Fed

By Calvin Kuk
US Dollar vs Canadian Dollar: USD/CAD continued its climb higher yesterday afternoon touching 1.3410 for the first time in 2 weeks. The USD is stronger across the board since the... read more

15 December 2016 - USD Back on the Run

By Calvin Kuk
US Dollar vs Canadian Dollar: Canadian Manufacturing Shipments for October sighted this morning at -0.8% well below of the previous at 0.3%. Today from 8:30-10:30 am the Bank of ... read more

14 December 2016 - Fed Chair Yellen Speaks at 14:30 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: No Canadian fundamentals today for the loonie to trade off. This week the loonie has entrenched itself in a very tight range from .7650 to .7600, o... read more

13 December 2016 - Loonie Well Supported

By Calvin Kuk
US Dollar vs Canadian Dollar: Significant support for the Lonnie comes at 1.3114 (.7625) as oil moves higher from yesterday's close. The rise in oil prices comes after the Inter... read more

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