Daily Market Commentary

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Thursday February 21st, 2019

Strong commodity prices are supporting the C$ in a push to new 2-week highs. While there has been an overnight pullback a C$ retest higher is likely later this morning. Bank of Canada Poloz is speaking this afternoon, so the C$ will also be taking direction from his comments. Poloz has been an advoc...
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Wednesday February 20th, 2019

The C$ hit a new 2-week high this morning thanks to new highs in crude, gold and base metals and a surprise announcement that Alberta will create a government oil transport company. Alberta plans to spend $3.7 billion to lease 4,400 rail cars and ship 120,000 barrels per day of low-priced shut-in cr...
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Tuesday February 19th, 2019

The US$ is retesting the highs of the last few months in expectation of the FOMC meeting tomorrow. The market will likely stay quietly strong waiting for news from that meeting, which is expected to reaffirm a low interest rate, pro-growth Fed policy. Housing Market index will be watched this mornin...
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Friday February 15th, 2019

The US$ retests the monthly highs this morning and is poised to break through to new levels not seen in two years. Despite weak economic numbers the US is not only outperforming Europe and China economically, but also appears more politically stable. There are some important economic numbers due but...
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Thursday February 14th, 2019

The US$ strength appears unstoppable this morning continuing an eleven day rally, and approaching new highs, on news that the Administration is granting a two-month extension to the China tariff deadline. The market is hopeful the Administrations softening stance is a sign of resolution in the trade...
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Wednesday February 13th, 2019

The US$ remains weak after yesterday’s drop on the news of a record job openings report; look for some strength today as US$ builds support for a retest of recent highs over the next few days. There is positive news as inflation numbers due this morning are at 1.6% well below the Fed’s 2% target...
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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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