Tuesday July 16th, 2019

US$ slightly stronger vs major currencies this morning. BOE, FED chiefs both speaking today as well as US retail sales should provide intra-day direction.

C$ failed to extend its current rally yesterday with easing oil prices. We currently sit at the key 1.3050 level, our stronger C$ bias remains intact.

Eur fell on Tuesday after signs of deteriorating sentiment among German investors, although the prospect of more central bank easing – starting with the Federal Reserve later this month. Bias to sell Eur on any pull back.

GBP  finds itself staying above water today, falling below $1.25 and hitting a new six-month low against the the euro and approaching two years lows vs. the USD  after the two politicians trying to be Britain’s next prime minister were seen to be toughening their line on Brexit negotiations.