Expected USD/CAD Range: 1.032 – 1.039 Update: US retail sale figures this morning increased for a fourth straight month and came in slightly above expectations (when measured ex-Autos). As a…
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Expected USD/CAD Range: 1.029 – 1.035
Update: On Friday, the Canadian Dollar was strong despite a very weak jobs number, helped by strong commodity prices and the perception that the very weak jobs numbers was a blip on the data screen. There is little on the calendar in terms of economic news today and the market is looking at the retail sales data out of the US tomorrow for guidance. The announcement that Blackberry may be sold will not have an impact on the value of USD/CAD as the company is too small and at this point the possibility of a sale too uncertain.
The Big Picture: The commodity boom has seemingly ended (or is at least sputtering). Relatedly, Chinese and other emerging market economies have …
Expected USD/CAD Range: 1.032 – 1.040
Update: Employment figures out this morning in Canada show a collapse in job creation in July. Expectations were for an increase of 10k but the actual figure was a loss of 39k jobs. Quebec was the worst-performing province with 30k jobs lost and Alberta was the best performer with 17k jobs created. Ontario came in flat. The Canadian Dollar reacted immediately by giving up 60 pips to trade around 1.035. We continue to believe that the relative economic performance of the two countries as reflected in the data over the next few weeks will be the driving factor for USD/CAD rate in the near future.
The Big Picture: The commodity boom has seemingly ended (or is at least sputtering). Relatedly, Chinese and other emerging market economies have …
As indicated by the table below, the Canadian Dollar has been the worst-performing major currency against the US Dollar in the last five days. In fact, the Loonie is the…