- February 13, 2018
- Posted by: Joey Benedid
- Category: Market News
Yen strengthened dramatically overnight having traded below strong support at 108.00 as the Asian currency gained on safe haven status amid current market turmoil. UK inflation data came in marginally above expectations halting the Sterling’s slide as expectations of a BoE hike in May circulated after the 3% print hit the market. Elsewhere in the G10 bloc things remain rather stable as we await U.S. inflation numbers tomorrow.
USD/CAD has traded in sideways fashion in overseas markets with little to no news hitting the wires as we consolidate. While the spread between Western Canada Crude & U.S. crude have come in over the past week or so the drop in overall oil prices has basically offset any positives for Western producers. We will be following general market themes with an eye towards tomorrow’s U.S. CPI data