Daily Forex Commentary

31 October 2014 - Spooky Canadian GDP Disappoints

By Calvin Kuk
US Dollar vs Canadian Dollar: Canadian GDP came in at -0.1% when the market anticipated a flat reading at 0.0%, taking the USDCAD back through 1.1200 and the 1.1247 resistance wh... read more

30 October 2014 - US GDP Beat Expectations

By Calvin Kuk
US Dollar vs Canadian Dollar: US Advance GDP for Q3 beat expectations of 3.1% at 3.5%. Initially the big currency gained across the board, but has since given back the gains as t... read more

30 October 2014 - FOMC Meeting at 14:00 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: BOC Governor Poloz testimony to the Senate Standing Committee on Banking, Trade, and Commerce, in Ottawa at 4:15 should add some clarity to the Bank... read more

29 October 2014 - US Durable Goods Orders Disappoint

By Calvin Kuk
US Dollar vs Canadian Dollar: Data out for the US this morning at 8:30am were the Durable Goods Orders and the core figures showed -0.2%, expectation was 0.5%. Out at 10am we ha... read more

28 October 2014 - USD/CAD Day Range: 1.1200 - 1.1270

By Calvin Kuk
US Dollar vs Canadian Dollar: Canadian data of importance will be Governor Poloz’s press conference Wednesday and GDP data on Friday. The press conference that was reschedu... read more

27 October 2014 - BOC Poloz''s Testimony Rescheduled to Oct29

By Calvin Kuk
US Dollar vs Canadian Dollar: The Loonie continues to challenge the lower end of the current range as commodity currencies have performed well in the cautious overnight environme... read more

24 October 2014 - Thoughts and Focus to All Affected at Parliament Hill

By Calvin Kuk
US Dollar vs Canadian Dollar: Our thoughts and focus continues to be on the tragic attack on Parliament Hill yesterday and all those directly affected. We still await the resched... read more

23 October 2014 - BOC is on Deck at 10:00 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: September US CPI showed a modest increase of 0.1% from -0.2% while Core was below expectations of 0.2% at 0.1%. Definitely no concern of inflationar... read more

22 October 2014 - US Existing Home Sales at 10:00 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: USDCAD has moved gradually from just below the 1.13 level when the Chinese data was released to where we are currently trading at 1.1225. The only N... read more

21 October 2014 - CAD Still Under Pressure

By Calvin Kuk
US Dollar vs Canadian Dollar: USDCAD continues to see CAD under pressure as oil prices hover above 80 pbl, the recent CPI data shows the BOC has plenty of room to remain neutral,... read more

20 October 2014 - Canadian CPI Beat Expectations

By Calvin Kuk
US Dollar vs Canadian Dollar: NA data was steady across the board. Canadian monthly Core CPI beat expectations of a drop from 0.5% to 0.1% coming in at 0.2% while the headline fi... read more

17 October 2014 - Canadian Manufacturing Sales Disappointed

By Calvin Kuk
US Dollar vs Canadian Dollar: Despite a good amount of fundamental data being released this morning, (CAD Manufacturing Sales, Foreign Securities Purchases, USD Unemployment Clai... read more

16 October 2014 - USDCAD is Volatile

By Calvin Kuk
US Dollar vs Canadian Dollar: The USDCAD high overnight touched 1.1385 taking out the 1.1329 resistance level and leaving us looking way back on the charts to determine where the... read more

15 October 2014 - No Fundamental NA Data Released Today

By Calvin Kuk
US Dollar vs Canadian Dollar: With no fundamental NA data being released today the focus will be the performance of Equity markets as we watch to see if the selloff continues or ... read more

13 October 2014 - Impressive Canadian Employment Data

By Calvin Kuk
US Dollar vs Canadian Dollar: Canadian Employment data was impressive adding 74.1K new jobs and the Unemployment rate dropped from 7.0 to 6.8%. Adding to the positive tone of thi... read more

10 October 2014 - USD Strength has Negative Effect on the Economy

By Calvin Kuk
US Dollar vs Canadian Dollar: USDCAD has tested below the 1.1100 level overnight briefly reaching 1.1081. A close below the 90 cent (1.1111) level will be key for the Loonie to g... read more

09 October 2014 - Canadian Housing Starts Disappoint

By Calvin Kuk
US Dollar vs Canadian Dollar: The currencies market is in a holding pattern as we await the FOMC Minutes today at 2pm. Canadian Housing Starts printed at 197.3K, which is below e... read more

08 October 2014 - Canadian Building Permits Disappoint

By Calvin Kuk
US Dollar vs Canadian Dollar: After a solid rebound for the Loonie yesterday (1.1270 to 1.1130), the pair has settled into a 1.1145 to 75 range this morning. Canadian Building pe... read more

07 October 2014 - USD Broad Based Correction

By Calvin Kuk
US Dollar vs Canadian Dollar: USDCAD was unable to break through the 52week high of 1.1279, yet came very close at 1.1271 on Friday. So far today the broad based US correction is... read more

03 October 2014 - USD picked up ground as everyone positions for the Employment report

By Frederick Cheng
US Dollar vs Canadian Dollar: US Employment data was solid and the USD bulls are back in the driver’s seat. There were 248K jobs created in September and the August number ... read more

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