Monex

CAD Yesterday saw USDACD rising through 1.36, with the loonie hitting a three-week low against the dollar. This slide came as falls for both oil and equities conspired to weigh on CAD given the...

CAD The loonie outperformed on Monday, holding ground against the dollar even as other G10 FX started the week in retreat. That said, the lack of movement for USDCAD was not a surprise considering...

CAD Friday saw the loonie finishing the week in retreat, helped by an inconclusive US jobs report and a concurrent set of domestic readings that broadly skewed dovish. Net employment rose by 22.1k,...

CAD The Canadian dollar has been a notable underperformer this week – unchanged against the greenback – with only Antipodean FX turning in softer results amongst the G10 FX complex. Even so, this...

CAD As expected, the BoC cuts rates by 25bp in their latest policy decision, announced yesterday. Similarly in line with expectations, BoC Governor Macklem ran back commentary from July suggesting...

CAD A BoC rate decision should be the main event for loonie traders today, with an announcement due at 14:45 BST. Anything other than a 25bp cut would be a major surprise. Instead, all attention will...

CAD Tomorrow’s BoC decision remains the major domestic event of the week for loonie traders. We continue to expect a 25bp cut from the Governing Council, accompanied by a signal that further cuts are...

CAD While Friday’s doubleheader of US and Canadian payrolls is likely to be the key set of risk events for USDCAD, before then, Wednesday’s BoC rate decision should be a close second in importance....

USD The US dollar performed well against its major peers yesterday following stronger-than-expected economic data released on Thursday. Investors await July’s US Personal Consumption Expenditure...

CAD The Canadian dollar experienced its first decline in four days, as the greenback rallied against all Group-of-10 currencies amid supportive month-end flows. The Bloomberg dollar gauge increased...

CAD The Canadian dollar continued its recent strength against the US dollar. General USD weakness accounts for some of the CAD gains but position adjustment (CAD short covering) could also be a...

CAD Much like the ECB, the base case is for the BoC to cut rates in September. Whilst the next step in Canadian monetary policy is largely priced in, Canadian GDP on Friday may prove to provide some...

CAD Even with Chair Powell’s appearance in Jackson Hole likely to be the key driver for USDCAD ahead of the weekend, we suspect the loonie traders will also be keeping a close eye on domestic...

CAD While USDCAD took yet another leg lower yesterday, we see upside risks for the loonie building. Chief amongst these are the rail strikes that began in Canada overnight. This marks the first time...

CAD Yesterday’s CPI release had minimal impact on the loonie, and on BoC easing expectations, as expected. Price growth cooled to 2.5% YoY while underlying inflation measures also eased, checking...

CAD Today’s CPI release should be the major event of note for loonie traders, even as we doubt that it will do little to derail the odds of BoC easing next month. The Governing Council has already...