Daily Forex Commentary

27 May 2016 - USDCAD Firms Up Leading into US Long Weekend

By Calvin Kuk
US Dollar vs Canadian Dollar: The USDCAD has gained around 75 bps from yesterday’s close. US GDP in the first quarter was just shy of expectations, as it printed at 0.8% wh... read more

26 May 2016 - Bank of Canada Leaves Rates Unchanged.

By Calvin Kuk
US Dollar vs Canadian Dollar: An interesting sentence taken from the Bank of Canada''s rate statement yesterday. "While the Canadian dollar has been fluctuating in response to sh... read more

25 May 2016 - Bank of Canada Statement at 10:00 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: Equity futures point to a higher open as strong US data signifies that the largest global economy is avoiding any signs of a recession. This coolin... read more

24 May 2016 - US New Home Sales at 10:00

By Calvin Kuk
US Dollar vs Canadian Dollar: No economic data this morning from Canada. We have US data out at 10:00 with the release of New Home Sales for April. The US dollar is riding the wa... read more

20 May 2016 - Canadian CPI Inline with Expectations

By Calvin Kuk
US Dollar vs Canadian Dollar: Global stock markets rally and Wall Street looks to open in the green. WTI is holding on to gains it made this week. Metals are mixed with gold dow... read more

19 May 2016 - USD Surges to a Four Week High

By Calvin Kuk
US Dollar vs Canadian Dollar: The US dollar surged to a four week high against the loonie overnight. This latest move is spurred by speculations the Federal Reserve is looking to... read more

16 May 2016 - Oil higher after Goldman Sachs revised forecast

By Frederick Cheng
US Dollar vs Canadian Dollar: West Texas Intermediate moves higher today after Goldman Sachs changes its forecast on future inventory. The bank mentioned the Canadian wild fires... read more

13 May 2016 - OPEC Production Shows a Surplus

By Calvin Kuk
US Dollar vs Canadian Dollar: Global equity markets are down today as investors can`t seem to shake the scepticism of global growth woes. US stock futures are pointing to a lowe... read more

12 May 2016 - Smaller Oil Surplus Sends Oil to 6 Months High

By Calvin Kuk
US Dollar vs Canadian Dollar: The International Energy Agency has forecasted a smaller surplus in oil for global output, which sent the price of WTI oil near its six month high. ... read more

11 May 2016 - Commodities Remain Elevated

By Calvin Kuk
US Dollar vs Canadian Dollar: Data is light this morning with only Crude Oil Inventories on dock at 10:30am. So far this morning we are seeing continued USD weakness as commodit... read more

10 May 2016 - Limited Canadian Event Risk this Week

By Calvin Kuk
US Dollar vs Canadian Dollar: Canadian event risk is limited this week with no fundamentals until Thursday morning when New Housing Price Index is released, as expectations are f... read more

09 May 2016 - Loonie and Oil Weak

By Calvin Kuk
US Dollar vs Canadian Dollar: The Loonie continues to weaken today as crude oil trades back into the red. WTI crude is currently down over 1% trading at 44.08 per barrel. The USD... read more

05 May 2016 - Canadian Building Permits Missed Expectations.

By Calvin Kuk
US Dollar vs Canadian Dollar: On the data front this morning we have Canadian Building Permits which missed target at -7.0%. Simultaneously US Weekly Jobless Claims also missed... read more

04 May 2016 - Loonie Retracing Gains.

By Calvin Kuk
US Dollar vs Canadian Dollar: The loonie continued its decline against the greenback overnight as commodities traded lower. North American equities followed the global sell off ... read more

03 May 2016 - Oil Falls Along with the CAD

By Calvin Kuk
US Dollar vs Canadian Dollar: The USD is mixed this morning after a poor showing of ISM manufacturing numbers yesterday. The index was reported at 50.8 in contrast to expectation... read more

02 May 2016 - Commodity Based Currencies Trade in the Positive

By Calvin Kuk
US Dollar vs Canadian Dollar: The greenback continues to face pressure within G10 trading, moving lower against all of its major counterparts to start of a holiday trading week. ... read more

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

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