- January 26, 2018
- Posted by: Joey Benedid
- Category: Market News
Volatility remains high after Trump’s “strong dollar” comments contradicted the Treasury Secretary’s “weak dollar” bomb dropped the day before. Sterling, yen & euro are sitting halfway between the extremes of levels reached after each headline as we await this morning’s U.S. GDP & durable goods data as well as any more headlines emanating out of Davos as Trump is scheduled to speak at 9 AM EST.
USD/CAD has weakened off to where we stood before the Trump comments yesterday as the market took the opportunity to buy CAD since we have underperformed most of the G7 currency bloc vs. the USD in recent weeks due to looming NAFTA concerns. Today’s Canadian CPI will be keenly awaited with anything better than the anticipated -0.3% reading for the month likely to vault the Canadian dollar higher on future rate hike potential.