Market News

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

Good morning, Yesterday’s announcement by the Bank of Canada’s Deputy Governor, Carolyn Wilkins moved the market at 1PM. Wilkins sighted that the BoC “still has room to maneuver with interest rates at 1.75%” the comments dampened the CAD against USD by 40 bps after the announcement at 12:30 PM ET with the CAD continuing to

Good morning, The US/China trade deal remains uncertain after President Trump mentioned a trade deal was close but still threatened more tariffs if a deal isn’t closed. Markets responded cautiously with USD gaining slightly vs a basket of major currencies ahead of US inflation CPI data. The US inflation data missed the 2.4% estimate reporting

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