Thursday 25th, 2019

The US$ rally vs C$ appears to be stalling. The US$ is holding below key resistance points as stronger oil prices are having a positive impact for C$. Strong results from the US economic data today, may be needed for US$ to breach higher. A failure to break through key resistance points this week, could signal consolidation and pull back to the lows we saw at the beginning of the month.

Strong US$ against GBP saw the currency hit 10 week lows vs US$. No Brexit agreement in sight and talk of the possibility of a renewed push for PM May to step down, continues to impact GBP. Confidence for growth for Europe and political uncertainties in Spain saw Euro hit 22 month lows. US economic data out today and tomorrow will be watched closely for signs of continued US$ strength.