Apr 15, 2024
CAD Although the loonie ultimately finished last week down -1.34% against the dollar, this was still sufficient for it to rank in the middle of the G10 currency board. In fact, when considering solely domestic developments, this arguably represents a surprising...
Apr 12, 2024
CAD USDCAD continued to trade higher on Thursday, finally breaking through the key psychological level of 1.37 on a sustained basis to reach levels most recently traded in November of last year. In part this came as FX traders were broadly happy to take the dollar...
Apr 11, 2024
CAD As we predicted, the double whammy of US CPI and a BoC decision saw USDCAD climb sharply on Wednesday. Perhaps more surprisingly, this still left the loonie as the top performing currency amongst G10 FX, dropping just 0.8% on the day. That said, we do not expect...
Apr 10, 2024
CAD The combination of both a US CPI report and a BoC meeting means that USDCAD traders are set to receive a double whammy of market moving events today. The former should add some modest support for the US dollar if it meets expectations. The latter, we think, is...
Apr 09, 2024
CAD While Monday initially saw FX markets playing catch up with Friday’s jobs data, this dynamic was only sufficient to see USDCAD flatline before the pair delivered a slow grind lower through the afternoon. To us, this was a little surprising. Neither of the loonie’s...
Apr 08, 2024
CAD As we warned last week, Friday’s jobs data was of critical importance for USDCAD. Risks heading into the release were for a soft Canadian print to contrast sharply with a strong headline reading south of the border. With this ultimately playing out, USDCAD...
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