Daily Forex Commentary

21 November 2014 - Canadian CPI Beat Expectations

By Calvin Kuk
US Dollar vs Canadian Dollar: The positive news for the Loonie continued at 8:30 when CPI beat expectations increasing to +0.1% when a -0.1% reading was anticipated. The core fig... read more

20 November 2014 - Canadian Wholesale Sales Improve

By Calvin Kuk
US Dollar vs Canadian Dollar: Canadian Wholesale Sales improved from 0.0% to 1.8% against the market expectation of a rise to 0.7%. At the same time US monthly Core CPI improved ... read more

19 November 2014 - FOMC Meeting at 14:00 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: The broad based softening in the USD has been replaced by a bullish tone today as the market anticipates the FOMC minutes to highlight the voice of ... read more

17 November 2014 - CAD/USD Range 1.1260 to 1.1340

By Calvin Kuk
US Dollar vs Canadian Dollar: The positive news of the Keystone pipeline passing through the House and the reality that it still has significant hurdles ahead ( President Veto an... read more

14 November 2014 - Positive Canadian Manufacturing Sales

By Calvin Kuk
US Dollar vs Canadian Dollar: We have seen a slight pull back after the 8:30am economic releases. Canadian Manufacturing Sales up 2.1% well above analysts’ expectations an... read more

13 November 2014 - Disappointing US Employment Data

By Calvin Kuk
US Dollar vs Canadian Dollar: Weekly Unemployment Claims are out and printed at 290k claims, which is slightly higher than the previous week of 278k. Later today we still have o... read more

12 November 2014 - Light on NA Data Release

By Calvin Kuk
US Dollar vs Canadian Dollar: The USD/CAD is underperforming, down 35 bps, from last week’s close. Not much on the fundamental side, so the currency directions will take t... read more

11 November 2014 - Lest We Forget

By Calvin Kuk
US Dollar vs Canadian Dollar: USD/CAD remains capped at 1.14 with the downside support coming in at 1.1360 in what is shaping up to be a quiet day for North America with Remembra... read more

10 November 2014 - Poor Canadian Housing Starts

By Calvin Kuk
US Dollar vs Canadian Dollar: Canada continues to look promising to improve as the second consecutive month of strong employment data from Friday and oil prices climbing back tow... read more

07 November 2014 - Positive Canadian Employment Data

By Calvin Kuk
US Dollar vs Canadian Dollar: October US Employment data was a slight miss at 214K versus the 235K anticipated. The unemployment rate edged down to 5.8% on the back of upward rev... read more

06 November 2014 - Positive US Employment Claims

By Calvin Kuk
US Dollar vs Canadian Dollar: USDCAD has come of its highs yesterday yet the trend favouring the USD remains firmly intact as we await tomorrow’s dual employment releases a... read more

05 November 2014 - CAD at the Mercy of Larger FX Themes

By Calvin Kuk
US Dollar vs Canadian Dollar: The Loonie has had a similar overnight session to the Aussie as weakening domestic data, a dovish central bank, oil prices testing new lows plus a b... read more

04 November 2014 - CAD Gained on Positive Trade Balance

By Calvin Kuk
US Dollar vs Canadian Dollar: This morning we had Trade Balance data for North America showing the US deficit growing to 43.0B from 40.1B. Canada surprised with a surplus of 0.7B... read more

03 November 2014 - BOC Poloz Speaks at 12:50 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: The USD continues to be the currency of choice as the market continues to react to the surprising additional QQE from the BOJ on Friday. We will hav... read more

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

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