Daily Forex Commentary

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

02 October 2014 - No Canadian Data Today

By Calvin Kuk
US Dollar vs Canadian Dollar: The Loonie had a strong Asian session reaching 1.1070 against the US which appears to be driven primarily USD bulls taking some profit ahead of ECB ... read more

01 October 2014 - USD/CAD Peaked at 1.1223 Overnight

By Calvin Kuk
US Dollar vs Canadian Dollar: USDCAD peaked at 1.1223 during the Asian trading session on the back of the back of flat Chinese Manufacturing PMI, staying just short of the 1.1225... read more

30 September 2014 - Canadian GDP Disappointed

By Calvin Kuk
US Dollar vs Canadian Dollar: The stampede into the USD has taken the Loonie to lows last observed in March (1.1190) and risk is looming of a drive lower as Canadian GDP disappoi... read more

29 September 2014 - No Canadian Data Today

By Calvin Kuk
US Dollar vs Canadian Dollar: Our Loonie hit a recent low of 1.1178 on the announcement of EnCana bidding on Athlon Energy for 6.8 bln USD, which will continue to keep CAD on its... read more

26 September 2014 - US GDP In Line with Expectations

By Calvin Kuk
US Dollar vs Canadian Dollar: US GDP was right in line with market consensus at 4.6%, up from 4.2% for the quarter. The US bull trend is firmly intact and the currency is seeing ... read more

25 September 2014 - Loonie Losing Ground vs. USD

By Calvin Kuk
US Dollar vs Canadian Dollar: USD continues to be the darling of FX markets as everyone shrugs off the dovish message from Yellen last week and places the FOMC as the first Centr... read more

24 September 2014 - Limited Data Today

By Calvin Kuk
US Dollar vs Canadian Dollar: USDCAD consolidated in a 1.1065 to 1.1087 range overnight and the Loonie’s biggest risk at this point is dropping commodity prices causing a p... read more

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