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Last Week Was Volatile For CAD

By The National Bank of CanadaMarket OverviewOct 02, 2017 09:04
ca.investing.com/analysis/last-week-was-volatile-for-cad-200196168
Last Week Was Volatile For CAD
By The National Bank of Canada   |  Oct 02, 2017 09:04
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Despite a chaotic run-up and a legal ban, a strong majority of Catalans voted in favour of independence. Catalonia represents 16% of Spain’s population and stands out due to its enviable economic position compared with the rest of Spain.

Last week was particularly volatile for the Canadian dollar. Comments from Bank of Canada Governor Stephen Poloz are pointing to slower monetary tightening than initially anticipated, as are disappointing GDP data released on Friday.

This week, we’ll be keeping an eye on speeches by several U.S. Federal Reserve members, including Fed Chair Janet Yellen on Wednesday afternoon as well as U.S. job data on Friday morning. Readings above expectations would be favourable to the U.S. dollar and would throw the door wide open to a key rate increase from the Federal Reserve as soon as December. The U.S. dollar is gaining ground this morning against the euro and the Canadian dollar. Turning to crude oil, WTI prices are down close to 2%. Exporters should take advantage of the current context to place orders.

Emmanuel Tessier-Fleury

Range of the day: 1.2350 – 1.2650

Last Week Was Volatile For CAD
 

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Last Week Was Volatile For CAD

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