Daily Forex Commentary

29 September 2016 - OPEC Cuts Production, Loonie Gains

By Calvin Kuk
US Dollar vs Canadian Dollar: OPEC agreed yesterday for the first time in eight years to cut production and as a result, WTI trade as high as 47.43, which is approximately a 5.3%... read more

28 September 2016 - OPEC Signals No Freeze in Production

By Calvin Kuk
US Dollar vs Canadian Dollar: West Texas Intermediate crude oil remains below 45 dollars per barrel, as traders price in "lower for longer". OPEC signals no freeze in production ... read more

27 September 2016 - Iran is not interested in freezing production

By Frederick Cheng
US Dollar vs Canadian Dollar: The price of WTI is dropping this morning after Iran's oil minister said that Iran is not interested in freezing production at current levels. WTI ... read more

26 September 2016 - Loonie Under Pressure after WTI Slips

By Calvin Kuk
US Dollar vs Canadian Dollar: Putting pressure on the Loonie this morning are comments from Saudi Arabia OPEC saying no deal will be found in the Algiers meetings as this is just... read more

23 September 2016 - Canadian Inflation Below Forecasts

By Calvin Kuk
US Dollar vs Canadian Dollar: USD/CAD continued its rollercoaster ride this morning jumping up 90 points as markets react to weaker Canadian data. Today the Canadian Consumer Pri... read more

22 September 2016 - Fed left rates unchanged as expected

By Frederick Cheng
US Dollar vs Canadian Dollar: The USD/CAD is down 200 points since yesterday afternoon when the FED released their rate decision. The Fed left rates unchanged as expected, howeve... read more

21 September 2016 - FOMC Rate Announcment at 14:00 EST.

By Calvin Kuk
US Dollar vs Canadian Dollar: Canadian Wholesale Sales at 8:30 am starts the day for what should be a quiet morning ahead of the FOMC this afternoon at 2:00 pm. Wholesale sales ... read more

20 September 2016 - Possibility of a "Shock Hike" at next FED Meeting.

By Calvin Kuk
US Dollar vs Canadian Dollar: Fundamentals today came out at 8:30am this morning with Housing Starts sighting at -5.8% to 1.142m, while Building Permits missed as well at -0.4% t... read more

19 September 2016 - CAD is Better Supported

By Calvin Kuk
US Dollar vs Canadian Dollar: The CAD is better supported today as the USD is generally weaker across the board. Risk events this week come from Bank of Governor Poloz’s sp... read more

16 September 2016 - US Inflation Better than Expected.

By Calvin Kuk
US Dollar vs Canadian Dollar: A down turn in commodities overnight has the USD heading to the top of its weekly range against its trading peers. Canadian Foreign Securities Purch... read more

15 September 2016 - US Weekly Jobless Claims Total 260,000

By Calvin Kuk
US Dollar vs Canadian Dollar: Event risks are all US centric today. At 8:30 am we received a slew of US data, as key impact fundamentals were initial jobless claims and retail sa... read more

14 September 2016 - Crude Oil Inventories Release at 10:30 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: Very quiet on the fundamental front in North America this morning, with just oil inventories to consider. WTI is up 0.16 cents from a $2.60 free fal... read more

13 September 2016 - Crude Oil Down, Loonie Suffers

By Calvin Kuk
US Dollar vs Canadian Dollar: Equities are moving into a consolidated pattern ahead of next week''s FOMC meeting. Comments from Fed Governor Lael Brainard, who is one of most dov... read more

12 September 2016 - Sell Off Across the Commodity Markets

By Calvin Kuk
US Dollar vs Canadian Dollar: The CAD is underperforming today as risk aversion dominates the markets. USD/CAD has gained for the fourth straight session and weaker oil prices wi... read more

09 September 2016 - Canadian Employment Rebounds

By Calvin Kuk
US Dollar vs Canadian Dollar: The main event risk for today was Canadian Employment Change and Unemployment Rate. Expectations for Employment Change were for +16K and the Unempl... read more

08 September 2016 - Canadian New Housing Price Index Rises

By Calvin Kuk
US Dollar vs Canadian Dollar: Overnight the price for borrowing yuan spiked in Hong Kong on increased speculation that the Chinese central bank was inverting in foreign exchange ... read more

07 September 2016 - Bank of Canada Rate Decision at 10:00 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: Key data for North America today starts with the Bank of Canada rate decision at 10am and expectation is for a hold at 0.5%. Also, at 10am we have C... read more

06 September 2016 - North America Returns from Labour Day Break

By Calvin Kuk
US Dollar vs Canadian Dollar: North America is back from Labour Day holiday and back to school. No major fundamentals this morning until ISM Non-Manufacturing/Service Composite o... read more

02 September 2016 - US Non-Farm Payrolls weaker than expected

By Frederick Cheng
US Dollar vs Canadian Dollar: The USD/CAD is 65 points lower at 1.3030 this morning as markets react to the US employment data released today. The US Non-Farm Payrolls printed at... read more

01 September 2016 - Event risk today is US centric

By Frederick Cheng
US Dollar vs Canadian Dollar: Event risk today is US centric with weekly Initial Jobless Claims posting 263K compared to last week's 261k. Then at 10:00 am we have Manufacturing... read more

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