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Daily Forex Commentary

31 July 2014 - Canadian GDP Beats Expectations

By Calvin Kuk
US Dollar vs Canadian Dollar: Canadian May GDP beat expectations of a rise from 0.1% to 0.3% coming in at a very solid 0.4%. Similar to yesterday’s US GDP which showed a re... read more

30 July 2014 - USD Gained on GDP - FOMC at 14:00 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: The USD has continued to be favoured overnight as market participants anticipate a change in tone from the FOMC today as well as the continued risin... read more

29 July 2014 - USD at Strongest Level in 6 Weeks

By Calvin Kuk
US Dollar vs Canadian Dollar: All the attention moves the Federal Open Market Committee (FOMC) meetings today and tomorrow, with expectations high that the Federal Reserve will b... read more

28 July 2014 - Quiet Start to the Week

By Calvin Kuk
US Dollar vs Canadian Dollar: We have a quiet start to the week as the market awaits Wednesday’s FOMC meeting and Friday’s US Employment data. The USD continues to gr... read more

25 July 2014 - Positive US Durable Goods

By Calvin Kuk
US Dollar vs Canadian Dollar: US Durable goods had a positive tone with the Headline figure moving from -0.97 to 0.7% while the Core moved from 0.0 to 0.8%. Both number are well ab... read more

24 July 2014 - Loonie in a Narrow Range

By Calvin Kuk
US Dollar vs Canadian Dollar: The Loonie continues to hover in a very narrow trading range (22 bps) as there appears to be very little appetite to challenge the current range of 1.... read more

23 July 2014 - Retail Sales are Mixed

By Calvin Kuk
US Dollar vs Canadian Dollar: Local retail sales numbers came out mixed this morning with the headline figure printing higher than expected at 0.7% while the core figure missed est... read more

22 July 2014 - US CPI is Soft

By Calvin Kuk
US Dollar vs Canadian Dollar: June US CPI is the main event for the North American trading day and the core release was a bit softer than anticipated dropping from 0.3 to 0.1%. The... read more

21 July 2014 - Theme: Caution

By Calvin Kuk
US Dollar vs Canadian Dollar: USDCAD continue to trade comfortably either side of 1.0750 with support at 1.0720 and resistance at 1.0780 holding firm for the time being. The positi... read more

18 July 2014 - Canadian Wholesale Sales Hit New Record

By Calvin Kuk
US Dollar vs Canadian Dollar: We observed some softness in the Loonie overnight as “risk aversion’ on the tragic news of the downing of a Malaysian passenger jet over U... read more

17 July 2014 - "Sell the Rumour, Buy the Fact"

By Calvin Kuk
US Dollar vs Canadian Dollar: Yesterday’s market reaction to BOC interest rate announcement, MPR and Press conference was a prime case of “sell the rumour, buy the fact... read more

16 July 2014 - Gov Poloz''s Press Conference at 11:15 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: The focus for us will be Governor Poloz’s press conference at 11:15 following the Rate Statement and Monetary Policy Report at 10:00. There will... read more

15 July 2014 - Yellen''s Testimony at 10:00 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: US Core Retail Sales were just released lower than the anticipated 0.5% at 0.4% while Empire State Manufacturing Index rose to 25.6 from 19.3. Reactio... read more

14 July 2014 - USDCAD trading at 1.0734

By Calvin Kuk
US Dollar vs Canadian Dollar: The Loonie gave up significant ground on Friday following the dismal Employment data and now sits comfortably within striking distance of the next lev... read more

11 July 2014 - Canadian Employment Data Disappoints

By Calvin Kuk
US Dollar vs Canadian Dollar: Canadian Employment Change was a big miss at -9.4K and the Unemployment Rate moved higher to 7.1% from 7.0% and we have seen a selloff in the CAD. USD... read more

10 July 2014 - USDCAD Still Trading on a Tight Range

By Calvin Kuk
US Dollar vs Canadian Dollar: The rising concerns about Global Q2 Growth will limit the Loonie to its current range today and runs the risk of challenging the 1.0700 level. The opt... read more

09 July 2014 - FOMC Meeting at 14:00 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: The main event today is the release of the latest FOMC minutes and the potential for a slightly more hawkish tone to be highlighted by the hawkish boa... read more

08 July 2014 - Hawk + Dove Fed Members Speak

By Calvin Kuk
US Dollar vs Canadian Dollar: Yesterday’s weaker than expected Ivey PMI and Bank of Canada Outlook Survey had the Loonie under pressure throughout the day yet we remain at th... read more

07 July 2014 - Positive Canadian Building Permits

By Calvin Kuk
US Dollar vs Canadian Dollar: Canadian Building permits m/m jumped huge, with this release expectation was 3.1% and the headline number was 13.8%, needless to say future constructi... read more

04 July 2014 - Quiet Day with US on Holiday

By Calvin Kuk
US Dollar vs Canadian Dollar: US markets are closed for 4th of July and the celebrations of independence can hardly be heard from the high fiving and cheering by traders on Wall St... read more

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