Daily Forex Commentary

29 April 2016 - Canadian GDP In Line with Expectations.

By Calvin Kuk
US Dollar vs Canadian Dollar: Canadian GDP m/m headlined at -0.1%, which is in line with expectations. Raw Material Price Index data rose to 4.5% in Canada, up from 3.9% last mo... read more

28 April 2016 - Loonie Taking Advantage of Current Environment.

By Calvin Kuk
US Dollar vs Canadian Dollar: The USD is soft following another cautious message from the FOMC yesterday plus the Bank of Japan holding on further easing last evening. In this en... read more

27 April 2016 - The Fed Takes the Stage at 14:00 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: It is Federal Reserve Day with the 2:00pm Statement and Federal Funds Rate announcement. This morning the only event risk comes from the US with Go... read more

26 April 2016 - Governor Poloz Speaks in New York

By Calvin Kuk
US Dollar vs Canadian Dollar: Tomorrow is FOMC day and the market is starting to focus on what members of the FOMC are going to discuss. Something of interest is starting to ari... read more

25 April 2016 - USD/CAD Trading Within Last Week''s Range

By Calvin Kuk
US Dollar vs Canadian Dollar: Event Risk this week for the loonie comes Friday when Stats Can releases the GDP m/m. GDP measures the change in the inflation-adjusted value of al... read more

22 April 2016 - Strong Canadian CPI and Retail Sales

By Calvin Kuk
US Dollar vs Canadian Dollar: Oil price are flat this morning with WTI 19 cents higher at 43.37. The Dollar Index this is climbing, as greenbacks are trading higher against its ... read more

21 April 2016 - Commodities Continue to Rise

By Calvin Kuk
US Dollar vs Canadian Dollar: Commodities continue their rise this week with gold spot at a one month high and silver up 7.2% in one week. WTI oil is trading at 44.20 as we writ... read more

20 April 2016 - Market Appears to be Sidelined

By Calvin Kuk
US Dollar vs Canadian Dollar: USD is broadly lower this morning amongst the G10. Most of the market appears to be sidelined as there is obvious catalyst to the softness we are e... read more

19 April 2016 - Loonie at 3 Month High

By Calvin Kuk
US Dollar vs Canadian Dollar: Global equity markets are in the green and US stock futures are taking there queue from the momentum. The Loonie is at a three month high against th... read more

18 April 2016 - No Deal in Doha Sends Loonie Lower

By Calvin Kuk
US Dollar vs Canadian Dollar: Oil futures fell 4.2% after no deal was agreed upon to freeze production in Doha as Saudi Arabia insists that all OPEC members must be in agreement ... read more

15 April 2016 - Canadian Manufacturing a Major Miss

By Calvin Kuk
US Dollar vs Canadian Dollar: We have the North American currency pair this morning favouring the USD as profit taking is taking place. Oil, equities, and industrial metals are ... read more

14 April 2016 - Bank of Canada Held Rates Yesterday

By Calvin Kuk
US Dollar vs Canadian Dollar: Bank of Canada held rates steady yesterday while maintaining a neutral balance with the accompanying statement and Governor Poloz’s Press Conf... read more

13 April 2016 - Bank of Canada Takes the Spotlight at 10:00 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: North American data started the morning with US Core Retail Sales and Retails at 0.2% vs -0.3% respectively. Also for the US we had Producer Price ... read more

12 April 2016 - Loonie briefly tested 9 month high

By Frederick Cheng
US Dollar vs Canadian Dollar: The Loonie was a strong performer overnight, briefly testing 9 month highs, as WTI oil approaches $41 pbl. Of risk today for our currency is the IMF... read more

11 April 2016 - Quiet Week Ahead for Canada

By Calvin Kuk
US Dollar vs Canadian Dollar: Currency remarkets remain steady within the ranges observed Friday as the majors lack a catalyst to drive a change. The quiet in the market over the... read more

08 April 2016 - Strong Canadian Employment Data

By Calvin Kuk
US Dollar vs Canadian Dollar: Canada released strong employment data this morning with 40,600 new jobs created in the month of March against Economist’s predictions of 10K ... read more

07 April 2016 - FOMC Minutes Highlighted a Cautious Board

By Calvin Kuk
US Dollar vs Canadian Dollar: Yesterday’s FOMC minutes did not portray the hawkish sentiment anticipated from voting members beyond Janet Yellen. The general tone of the mi... read more

06 April 2016 - USD Holding onto Gains

By Calvin Kuk
US Dollar vs Canadian Dollar: Equity Markets rebounded overnight following positive Chinese Services PMI data. Leading to the risk off tone we observed yesterday subsiding as we ... read more

05 April 2016 - Canadian Trade Balance Misses Target

By Calvin Kuk
US Dollar vs Canadian Dollar: A slump in Asian Equity markets, plus caution expressed regarding Global Growth outlook from the IMF’s Lagarde have produced a “risk off... read more

04 April 2016 - Commodities Facing Downward Pressure

By Calvin Kuk
US Dollar vs Canadian Dollar: Commodities are facing downward pressure to start the week and taking the shine off the strength the Loonie has enjoyed. Adding to this move is the ... read more

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