USD/CAD dips as oil reclaims $80 per barrel

USD/CAD made its biggest jump in a month yesterday but is giving some back today. The mood has improved slightly since the release of several US economic data points, including a strong initial jobless claims reading.

That's diminished concerns about a hard landing in the global economy and one of the beneficiaries is oil. Crude fell to $78.13 earlier but it's just rebounded back over $80. It will remain in focus with weekly US oil inventories coming up at the bottom of the hour.

USD/CAD fell as oil rebounded with the pair now about 50 pips below the session high of $1.3520.

I spoke with Reuters yesterday about the loonie and the situation around global growth. The market is trying to find the balance between falling inflation due to softening growth and a hard landing. The market is getting more confident that inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term is trending down and now the worry is that growth is slowing too quickly.

Like many trades, the loonie needs to be right in the middle to prosper. That's what the Fed and many central banks are predicting but the bond market is less convinced. The Fed funds futures Futures Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Read this Term curve is pricing in rates at 4.38% at year end compared to 4.90% in March.