Market News

Good morning, US non-farm payroll exceeded the 160K expectation with an impressive 225K print. Canada’s net change in employment came in at 34.5K from 15K expected. A quick analysis of the data on both sides of the border reveals that the market was expecting the NFP figure to exceed, especially after the ADP private payroll

Good morning, China has cut the tariff rate on US imports by 50% on over 75B of goods to boost confidence and spur trade amid virus concerns. Oil rebounded to over 50 a barrel for the second day straight today after hitting a two month low on Tuesday of 49.23. Support in the oil price

Good morning, FOMC interest rate decision is underway today at 2PM EST. The Central bank is not likely to make any substantive changes to monetary policy but the devil will be in the details as traders key in on economic developments of the phase one US/China trade deal and the impact of the coronavirus on

Good morning, Markets shift to safe haven trading as oil, stocks and the Chinese Yuan selloff in favour of the JPY, USD, gold and treasuries. The main catalyst for safe haven trading is heightened concern over the human and economic impact of the Coronavirus. USD/CAD is touching on a new six week high as investors

Good morning, World leaders continue to gather in Davos Switzerland while financial markets remain tame. Tomorrow Canada will release its consumer price index for a checkup on inflation followed by the Bank of Canada rate announcement. Canada is widely expected to keep rates unchanged but some bouts of volatility may finally ensue in a press

Good morning, USD/CAD virtually unchanged after yesterday’s Canada inflation data gave the loonie a considerable boost passed monthly support level to previous Oct 30 low. Overnight, headline risk regarding US presidential impeachment was scoffed by the FX market as the impeachment proceeds to go to trial next month in a republican majority held senate. US

Good morning, White house advisor Larry Kudlow declared the US/China trade deal “is absolutely completed”. The phase one deal is said to be signed in January but with no specific date given by China, some uncertainty remains. The initial pullback in favour of the CAD as a commodity currency has subsided. While the CAD still

Good morning, Yesterday’s FOMC meeting and US interest rate announcement kept rates unchanged at 1.75% as expected. FED Chair Powell’s comments talked down the dollar citing more slack in the labour market even though the unemployment rate is only at 3.5%, a nearly 50 year jobless rate low. The FED’s dot plot revealed that most

Good morning, After Friday’s US jobs data impressed the market spurring a bullish reversal in USD/CAD, the next major market event to look out for will be tomorrow’s FED interest rate decision. The FED is expected to keep rates unchanged at 1.75% after cutting rates three times this year. FED Chair Powel’s comments will be

Good morning, The gains that the Canadian dollar posted from Wednesday’s Bank of Canada announcement have retraced considerably this morning. Today’s nonfarm payrolls print for the month of November posted a solid gain of 266K new US jobs vs the 180K estimate. US year over year average hourly earnings expanded to 3.1% from an estimate