Daily Market Commentary

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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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Monday March 4th, 2019

News of a sharp decline in oil and lower economic growth numbers have sent the C$ lower to near six-week lows this morning. The dispute with China is escalating while the government is distracted with continuing ethics investigations. Overall the C$ is trending lower but look for a short-term buying...
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Friday March 1st, 2019

The C$ weakened on the back of disappointing GDP numbers this morning, stronger commodity prices should provide support keeping the currency within its recent ranges, while the government seems more focused on issues with China and internal ethics conflicts than the economy. A higher than expected G...
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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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