Daily Market Commentary

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Tuesday February 12th, 2019

The US$ failed to breach the highs of December, Fed Powell’s speech this afternoon and the impending China talks will be key to guiding the US$ strength going forward. The market will be waiting for direction from Fed Powell’s speech this afternoon and the Jolts Job Openings report is due this m...
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Monday February 11th, 2019

The US$ appears unstoppable as it rallies for eight straight days to new highs for the year on a positive outlook for future economic strength. With the Chinese holiday’s over there is optimism over a resumption of trade talks, and the stock market is holding near its yearly highs, despite rumours...
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Friday February 8th, 2019

After falling almost 2% the last four days C$ is pausing in anticipation of economic numbers that could weaken to lows not seen since mid-December 2018. Given Bank of Canada’s Deputy Governor Lane’s recent comments these numbers take on a heightened importance for clues to BoC’s rate outlook a...
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Thursday February 7th, 2019

CAD continues to fall into this mornings’ session, due to bearish comments from Deputy Governor Lane, despite on-going commodity strength. CAD dropped when Bank of Canada Deputy Governor Lane announced that he supports a weaker currency to stimulate growth. Lane blamed CAD weakness on US Fed rate ...
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Wednesday February 6th, 2019

CAD has fallen overnight due to concerns over the economy and trade. Oil is slightly weaker but is holding well given its recent run up, so CAD should find some support at these levels. Bank of Canada Deputy Governor Tim Lane is speaking later this morning. His comments could provide more direction ...
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Tuesday February 5th, 2019

The US Dollar remains strong this morning, continuing from yesterday. USD has rebounded strongly over the last few days, but momentum is turning. Strength should be short lived today. The market will be looking for some further direction from the President’s State of the Union address tonight. Tod...
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Monday February 4th, 2019

The US Dollar rallied as other currencies struggle this morning. Strong jobless numbers on Friday, the second strongest monthly growth in jobs in two years, supported US Dollar strength. That strength has continued into this morning and should continue for the rest of the day. CAD is quietly weaker ...
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Friday February 1st, 2019

CAD remains strong thanks to oil and metals strength. There has been no pullback even though CAD is the OECD’s strongest currency so far this year. Look for continued steady strength today and in the longer term. The USD Index is quietly weaker. Expect more of the same today after yesterday’s ec...
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Thursday January 31st, 2019

Look for the USD Index to strengthen a bit today after yesterday’s drop appears a bit overdone. Yesterday the Fed announced it’s planning to keep its interest rate policy unchanged for the foreseeable future. The policy was reinforced by an unusual second announcement that monetary policy will a...
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Tuesday January 29th, 2019

The USD Index is range bound this morning awaiting new economic numbers, an announcement on China/US trade talks including hopefully a resolution with Huawei, and tomorrow’s announcement by the Fed. Expectations are for the Fed to keep rates unchanged, but as for trade talks any outcome is possibl...
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