Morning Commentary & Currency Insights – December 14, 2018

The seesaw of risk sentiment continues as we see global equities on their back foot with U.S. indices expected to open up in negative territory as well.  The dollar is higher mainly on a weaker Sterling with PM May lobbying EU leaders for leniency with Brexit but seemingly not receiving much sympathy.  Several EU leaders have stated a no-deal Brexit is a real possibility with others saying they are not receiving reassuring messages from the PM.

USD/CAD is marginally higher on this as we sway in the wind driven by global events.  Despite oil being better supported on the day the market chooses to sell CAD on whatever negative news they deem more important at any given moment.  Look for resistance above at 1.3415-20 & support at 1.3315-20.