Daily Market Commentary

Latest News

March 19th, 2019

US$ remains quite resilient despite expectations of dovish comments at tomorrow’s FOMC meeting. Today we expect US$ to trade within a narrow band, looking for opportunities to buy US$ on any short term dips. Canadian dollar stalled overnight despite stronger oil prices which are close to 2019 ...
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March 18th, 2018

The US$ is weaker today on the back of Fridays weak economic numbers and the anticipated dovish comments expected from Wednesdays Federal Reserve meeting. Overall our bias is to be patient, US$ buyers look for opportunities to buy US$ on further dips as we expect US$ to continue to rally again longe...
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Thursday March 14th, 2019

Worries over weaker housing prices are hurting the C$ this morning despite rising oil prices and rumours that the US metal tariffs might be removed. This is best opportunity to buy in US$ in a week. The C$ will likely stay in this range for a day or two before turning lower. The US$ rose […]...
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Wednesday March 13th, 2019

Despite a rally in oil overnight the C$ is having difficulty gaining any strength due to a weak economy and the increasing probability of lower rates. Still continued oil strength should help the C$ today and tomorrow providing an opportunity for importers to buy US$ as the long-term trend remains d...
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Tuesday March 12th, 2019

Despite a rally in oil overnight the C$ is having difficulty gaining any strength due to a weak economy and the low probability of higher rates going forward. Still continued oil strength should help the C$ today and tomorrow providing an opportunity for importers to buy US$ as the long-term trend r...
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Monday March 11th, 2019

After hitting a two-month low the C$ strengthened on Friday due to higher oil prices and strong employment numbers, however the long-term trend remains down. Sell any strength as the market heads to the December lows. Given the sharp rise last week the US$ is quiet this morning. Look for weakness as...
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Friday March 8th, 2019

BOC bearish comments on the economy, as well as weaker oil and base metals saw C$ continue to weaken against the US$. In the short-term, look to buy US$ on dips with the potential retesting of the highs of Dec 2018.   The US$ stalled morning after hitting a new two-year high on news that […]...
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Thursday March 7th, 2019

After falling five days in a row to a two-month low the C$ is finding some strength this morning on rising oil prices. The Bank of Canada affirmed yesterday that its policy of raising rates will be under review given Canada’s mixed economic outlook. The C$ is overdue for a rally today, but importe...
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Wednesday March 6th, 2019

The C$ continues its decline overnight to a 2-month low while awaiting news of the Bank of Canada’s interest rate decision this afternoon. The BoC is expected to keep rates unchanged with an easing bias. With a government in turmoil over ethics investigations, a weak economic outlook and potential...
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Tuesday March 5th, 2019

The C$ declined further overnight touching six-week lows on news of yet another Cabinet resignation and poor economic numbers that might force the Bank of Canada to lower interest rates. While rates are currently at a modest 1.75% the BoC has raised rates consistently over the last year, so any lowe...
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