Monthly Archives: February 2019

Thursday February 28th, 2019

The US$ fell to a new three-week low overnight on news of a lack of success in North Korean nuclear security talks. As well Wholesale Inventories increased to a five-year high yesterday, while Factory Orders fell providing the market with recessionary fears. The market will have confirmation of thos...
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Wednesday February 27th, 2019

The US$ fell to new two-week lows yesterday and remains weak this morning on news of a collapse in Housing Starts. Also, Fed Chair Powell’s speech before Congress reiterated his low interest rate policy. Look for further weakness as Powell will also speak before the House finance committee today. ...
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Tuesday February 26th, 2019

C$ fell from the high’s seen yesterday and remains weak this morning as oil collapsed over 3% on comments by the US Administration about excessively high prices. The market is also anticipating inflation numbers due tomorrow and Thursday that may impact on Bank of Canada Chief Poloz’s policy of ...
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Monday February 25th, 2019

C$ is hitting high’s not seen in two weeks thanks to strength in base metals prices and the likelihood of a resolution of China-US trade talks. The Administration has extended the tariff deadline and government leaders are meeting next month. Chinese analysts are reporting they expect a deal to be...
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Friday February 22nd, 2019

C$ is weak this morning despite oil and base metals rising to new highs on news that the Bank of Canada will maintain a low rate policy. BoC Chief Poloz spoke yesterday of the need to stop raising rates due to economic uncertainty. The market now believes the chance of a BoC rate increase this [&hel...
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Thursday February 21st, 2019

Strong commodity prices are supporting the C$ in a push to new 2-week highs. While there has been an overnight pullback a C$ retest higher is likely later this morning. Bank of Canada Poloz is speaking this afternoon, so the C$ will also be taking direction from his comments. Poloz has been an advoc...
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Wednesday February 20th, 2019

The C$ hit a new 2-week high this morning thanks to new highs in crude, gold and base metals and a surprise announcement that Alberta will create a government oil transport company. Alberta plans to spend $3.7 billion to lease 4,400 rail cars and ship 120,000 barrels per day of low-priced shut-in cr...
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Tuesday February 19th, 2019

The US$ is retesting the highs of the last few months in expectation of the FOMC meeting tomorrow. The market will likely stay quietly strong waiting for news from that meeting, which is expected to reaffirm a low interest rate, pro-growth Fed policy. Housing Market index will be watched this mornin...
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Friday February 15th, 2019

The US$ retests the monthly highs this morning and is poised to break through to new levels not seen in two years. Despite weak economic numbers the US is not only outperforming Europe and China economically, but also appears more politically stable. There are some important economic numbers due but...
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Thursday February 14th, 2019

The US$ strength appears unstoppable this morning continuing an eleven day rally, and approaching new highs, on news that the Administration is granting a two-month extension to the China tariff deadline. The market is hopeful the Administrations softening stance is a sign of resolution in the trade...
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