Market News

Good afternoon, Canada employment data missed estimates reporting a net loss of -1.8K new jobs from forecasted 15.9K for the month of October. The net participation rate remained unchanged along with the unemployment rate also unchanged for last month at 5.5%. The CAD has lost some significant ground on the jobs miss with the USD

Good morning, US commerce secretary Wilbur Ross signaled an optimistic tone regarding the potential to sign a deal with China before the end of this month. Ross’ comments also mentioned the potential to wave tariffs on EU, Japan and South Korea. The positive outlook could help CAD with oil prices rising on the positive sentiment

Good morning, Yesterday’s BoC meeting to held rates as widely anticipated. The CAD diminished in value after the announcement as BoC Governor Poloz delivered his message with a dovish tone, citing concerns from global trade tensions and a slowdown in global growth. The FED cut interest rates for a third time in a row, the

Good morning, The market is awaiting tomorrows key central bank decisions from both sides of the border. The Bank of Canada will report its decision at 10AM EST, the implied probability that the Canadian rate remains unchanged is 99.2%. The US FED will make its announcement at 2PM. Markets are indicating a 90.9% probability that

Good morning, Canada employment data reported much better than expected this morning bringing the employment rate down to 5.5% from 5.7%. The main market mover was average hourly earnings increasing to 4.25% from 3.78% . Canada added 53.7K new jobs from expected 10K for the month of September. The stellar domestic jobs data moved the

Good morning, Today’s key event  will be FED chair Powell’s speech at 1PM. Powell will also weigh in on the state of the US economy in speeches tomorrow and Wednesday. Wednesday will also release the minutes of last month’s FOMC statement for more details into what lead the FOMC to cut rates at their last

Good morning, Yesterday’s gains for the UD dollar were reversed this morning following US employment data for the month of September. Average hourly earnings reported lower at 2.9% from consensus 3.2%. Nonfarm payrolls also reported lower at 136K from 145K expected for September. Leading indicators such as private payrolls data and manufacturing data also disappointed

Good Afternoon, Limited data of high importance is scheduled for this week with the exception of Thursday’s release of Q2 US GDP. The market will be focusing on geo political and headline risk – US / China trade talks will dominate along with some of Saudi Arabia’s restored oil output after last week’s attack on

Good morning, Yesterday’s FED meeting resulted in a .25% rate cut as expected. The market reaction was largely muted as the second US rate cut in over ten years had been largely priced in ahead of the announcement. USD/CAD continues to be rangebound as the Canadian dollar’s close correlation to oil remains relatively intact.  Tension

Good morning, Yesterday’s Bank of Canada meeting rallied the Canadian Dollar against USD as the BoC kept rates unchanged.The Bank did not deliver a widely expected Dovish statement, predicting lower rates, which prompted the shift in sentiment. The surge in CAD continued overnight and into this morning posting a new one month high against USD.