Daily Market Commentary

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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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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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