USD/CAD preserves CPI-led gains above 1.31 despite USD weakness

Canadian inflation data miss expectations by a wide margin. Existing home sales in the U.S. continue to decline. US Dollar Index erases gains into London fix. The USD/CAD pair rallied to its highest level since September 11 at 1.3120 as the loonie suffered heavy losses after today's dat ...

The Loonie underperforming G10’s – Scotiabank

CAD is soft and underperforming all of the G10 currencies as we enter Thursday’s NA session.  Key Quotes: "Oil prices are weak as we note broad declines across global, North American and Canadian benchmarks. The outlook for relative central bank policy is delivering added pressur ...

BoC: Rate hike to 1.75% is assured – Westpac

According to Richard Franulovich, Head of FX Strategy at Westpac, a BoC hike Oct 24 to 1.75% is assured and while that is fully discounted, the Bank will likely signal with greater conviction that yet more hikes are required and possibly at a faster pace (already hinted by the Bank). Key Quote ...

USD/CAD continues to trade at weekly highs near 1.3050

ADP data shows strong employment growth in Canada. WTI loses around 2% on a daily basis. US Dollar Index stays in the positive territory. After edging down to the 1.3030 mark during the European trading hours, the USD/CAD pair gained traction and rose toward mid-1.30s as crude oi ...

Global market wrap: picture was mixed – ANZ

Analysts at ANZ New Zealand Bank explained, in a market wrap, that US equities opened sharply lower before rising in the New York afternoon.  Key Quotes: "However, at the time of writing the picture was mixed, with DJIA down 0.5% and S&P up 0.1%." "Financials were leadin ...

USD/CAD surges to 1.30 as WTI slips below $70 on EIA report

Weekly EIA data shows a large buildup in crude oil inventories in the U.S. US Dollar Index clings to gains above 95. Canadian data shows a decline in manufacturing sales in August. Yet another sharp drop witnessed in crude oil prices forced the commodity-sensitive loonie to weaken against it ...

BoC likely to lift the overnight rate by 25 bps next week – TDS

Analysts at TD Securities expect the Bank of Canada to lift the overnight rate by 25 bps next week, which is in line with consensus and already priced into rates markets. Key Quotes “Recent economic activity has surprised to the upside relative to the BoC's last forecast in July an ...