Lingering concerns that the aftermath of the Japanese earthquake/nuclear disaster, combined with concerns over spreading unrest in the Middle East have traders trimming their outlook for global growth. AUD and CAD are under heavy pressure as traders price out future … Continue reading
The CAD has sold off in the past on this…for what its worth. It is the 18th case in the last 8 years, Bloomberg reports.
It’s interesting to read Jamie’s take on overnight proceedings which he sees as being mildly USD-positive whereas when I look at what happened overnight, I see nothing but bearish USD signs. That’s the beauty of the FX market, everyone sees … Continue reading
The USD seems to lose a bit of ground almost every night and whilst there are the usual cross adjustments, there can be little argument that the market is set on selling the greenback. USD/CAD was one pair to break … Continue reading
Heavy buy orders are being reported near .9750
Traders note a NY consulting shop says the BOC is not in any rush to hike rates becuase of the strength of the Loonie but says there will be several hikes by the end of the year. How’s that for … Continue reading
I can’t remember any big M&A deals being approved, to be honest, but traders note talk that there is 30 yards of USD/CAD to be bought for an M&A deal… London has already bought a bunch of USD/CAD, helping push … Continue reading
There is no such thing as a one-way street in the FX market and we certainly saw a clean-out of short-term USD bears today. What we now need to figure out is whether the risk-aversion which hit the Asian financial … Continue reading
The FX market does not know how to react to the latest escalations in the Middle East so it is doing nothing. Normally one would expect the CHF and the USD to strengthen in times of political upheaval but since … Continue reading
Compared to median forecasts +0.1%, +2.4% respectively. Reaction of loonie so far muted. Infact USD/CAD at 9835 presently is where it stood just prior to data release.