Daily Market Commentary

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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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Thursday July 4th, 2019

Quiet overseas trading is expected to continue into North American with the US markets closed for the 4th July holiday. US$ remains under pressure from falling treasury yields and expectations of a FED cut in July. US-China trade talks are expected to resume next week, but hopes of a quick resolutio...
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Wednesday July 3rd, 2019

US$ eased overnight on a combination of falling optimism on a US/China trade resolution, European tariffs and anticipated rate cuts. Going into US holiday tomorrow and Non-Farm Payroll (NFP) on Friday, investors appear hesitant and sidelined. C$ remains caught inside a tight trading range, with econ...
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Tuesday July 2nd, 2019

Global economic concerns continue, despite US & China trade talks restarting. A weak manufacturing survey, $4bln additional tariffs proposed on Europe and OPEC cutting production, saw US$ rally stall overnight. US holiday Thursday and NFP (Non-Farm Payroll) Friday may see investors sit on the si...
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Friday June 28th, 2019

The currency markets are relatively stable ahead of this weekend’s G20 Summit & possible trade dispute resolution. The US & Chinese leaders to meet on Saturday and markets are optimistic of a positive outcome. C$ hit close to a 5 month highs vs US$ yesterday. Oil prices going into the ...
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