Monthly Archives: July 2019

Thursday July 18, 2019

US$ is down against most majors for the second day after weaker housing data yesterday and softer U.S Treasury yields. Investors seem to be gearing up for next weeks policy meeting where 25 basis point rate cut has been built into the money market. C$ is firm this morning against the USD with oil  ...
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Wednesday July 17th, 2019

US$ news of President Donald Trump maintained his threat to impose additional tariffs on Chinese imports.    The dollar rose against a basket of currencies after strong U.S. retail sales data reinforced market expectations the Federal Reserve will refrain from making a large 50 basis-point rate cu...
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Tuesday July 16th, 2019

US$ slightly stronger vs major currencies this morning. BOE, FED chiefs both speaking today as well as US retail sales should provide intra-day direction. C$ failed to extend its current rally yesterday with easing oil prices. We currently sit at the key 1.3050 level, our stronger C$ bias remains in...
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Monday July 15th, 2019

US$ starts the week slightly weaker vs major currencies. Mixed data from China with strong retails sales surging 9.8% whilst Q2 GDP growth slows to 27 year lows. GDP data shows signs that impact from US/China trade dispute is starting impact the economy. On a positive note, comments that US firms &#...
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Friday July 12th, 2019

US$ continues to slowly weaken vs major currencies on expectations of a FED cut by the end of the month. A stronger than expected US CPI data failed to deter the FED from cutting interest rates. Expectations of a Sino/US trade resolution appears to be some distance away. Tariffs appear to be impacti...
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Thursday July 11th, 2019

US$ sold off to a weekly low on the back of FED chiefs dovish comments. The FED chief pointed to broad global weakness and set the stage for a rate cut in July. The market will focus on US CPI data out this morning and further testimony from FED Chief today. C$ strengthened vs US$ […]...
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Wednesday July 10th, 2019

US$ continued to firm overnight with investors scaling back expectations on the size/speed of future FED cuts. FED chief comments in front of congress today will be listened too closely to gauge interest rate direction. Despite firm oil prices and expectations BOC will hold rates at current levels, ...
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Tuesday July 9th, 2019

US$ firmed against all the major currencies ahead of FED chiefs testimony to congress Wednesday. Initial speculations of up to 50bps cut by the FED in July has been tempered to 25bps after stronger than expected NFP on Friday. The restarting of the China / US trade discussions has also had a positiv...
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Monday July 8th, 2019

Friday’s stronger than expected NFP put the spot light back on the FED and interest rate expectations. FED chairman is testifying Wed/Thur and investors will be listening closely to his comments. Trade talks are set to resume this week, but optimism remains low for a quick resolution. C$ initi...
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Friday July 5th, 2019

US returns from 4th July holiday to the release of Non-Farm Payrolls (8.30am). It is largely expected that the FED will cut rates in July despite expected wage gains and job growth. Trade talks next week between China/US will become a key focal points for the markets again. Canadian economy is rebou...
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