Monex

CAD A blank data calendar and a similarly barren docket of speakers should keep the loonie trading in limbo for the time being. Tariff risks remain the key risk on the horizon for CAD traders. But...

CAD After much speculation, new Liberal PM Mark Carney has called a snap election for April 28th, a move that while not impacting USDCAD significantly this morning, we are inclined to see as...

CAD The loonie continues to grind higher against the dollar, finding little relief from last night’s FOMC decision. That said, we agree with the direction of travel, with tariff concerns warranting a...

CAD Yesterday’s CPI prints showed a greater-than-expected inflation rebound in February, causing a headache for the BoC. While some uptick in price growth had been expected given that a sales tax...

CAD February CPI data should be the focus for loonie traders today. Markets expect headline CPI growth to rise 0.6% MoM and 2.2% YoY, up from 0.1% and 1.9% respectively in January. That said,...

CAD The loonie continues to struggle to break out of recent ranges, with USDCAD currently trading in the mid-1.43s – only half a percent lower than it started the month. This is despite a volatile...

CAD While the BoC cut rates by 25bps yesterday, it was Governor Macklem’s mention of a “new crisis” that really caught the eye. He was, of course, referring to the ongoing US-Canada trade conflict....

CAD The war of words between the Trump administration and Canadian officials intensified yesterday, with further tariff threats issued by both sides. Most notably, this saw Trump threaten to double...

CAD The loonie softened to start the week, with a backdrop of falling US equities proving a drag for the Canadian dollar. That leaves USDCAD trading around 1.44 ahead of tomorrow’s BoC decision, with...

CAD While USDCAD continues to sink in response to rolled-back US tariffs, we are still of the view that the current trade tensions are not a positive for loonie fundamentals. Tariff barriers are...

CAD Not unsurprisingly given market tendencies, the loonie has seen some relief on the partial suspension of US tariffs. That said, as we note in our USD section above, this largely misses the point...

CAD Despite the rally seen across European FX in recent days, the loonie has proven a notable laggard, seeing only marginal upside against the dollar. That said, we think this broadly makes sense....

CAD With US tariffs going into force, Canada has responded with levies of their own. For now, this means a 25% tax on C$30bn-worth of US imports, with Canadian tariffs to be placed on an additional...

CAD Last Friday’s GDP data did much to alleviate the downside pressure on CAD stemming from looming tariff risks. That said, we are inclined to think that this will be temporary relief, with few...

CAD Given that Canada was the explicit target of yesterday’s US tariff threats, it is no surprise to see USDCAD notching higher, with the pair now trading above 1.44 on the back of these latest...

CAD While the loonie has not fully unwound the recent move lower on the back of Trump’s comments yesterday, it is notable that USDCAD has begun early trading this morning with a softening bias. All...