Monex

CAD Surprisingly to us, the loonie is amongst the best performing G10 currencies overnight. While USDCAD is up, the pair has only risen by 0.75%, a smaller move than seen across other major currency...

CAD While loonie traders, like everyone else, will be keeping a close eye on the outcome of the US elections, they also have the Bank of Canada’s summary of deliberations to contend with today....

USD Trump trades are front of mind this morning, with election day set for tomorrow and several notable polls released over the weekend. Specifically, high-quality polls from NYT/Siena surveying all...

USD This afternoon’s jobs report is the final tier-one data print ahead of the US elections. Due at 12:30 GMT, today’s data is widely expected to show a sharp slowdown in job gains in October, with a...

USD The dollar slipped on Wednesday, with the DXY index falling 0.2%. This move lower for the greenback was helped by US Q3 GDP modestly undershot expectations. Having expected to see the economy...

USD A choppy session for the dollar led FX market price action on Tuesday despite the DXY index ultimately finishing little change. Perhaps the most significant point of note in our eyes, however,...

USD The dollar pared some initial strength on Monday, with the DXY index finishing the day down around 0.1%. Underpinning this modest retreat was a fading haven bid as Middle East tensions look to be...

CAD Domestically, August GDP is the major event of note for Canadians this week. That said, events south of the border should be just as consequential if not more so for the loonie. In particular,...

CAD The loonie spent much of yesterday’s trading playing catch up. As we noted following Wednesday’s BoC decision, the combination of commentary and Bank forecasts was much more dovish than it seemed...

USD The dollar’s climb continued on Wednesday, with the DXY index gaining another 0.3%. Even so, yesterday afternoon saw the greenback appear to hit a ceiling, not unsurprisingly we think, given our...

CAD This afternoon’s BoC decision should be the big market event of the day. We expect to see the Governing Council cut rates by 50bps – a step up in the pace of easing after a series of 25bp moves...

CAD Perhaps unsurprisingly, tomorrow’s BoC meeting is likely to be garnering the majority of attention from loonie traders today. Markets see an 86% chance that the Governing Council delivers a 50bp...

CAD The one major central bank decision of significance this week is set to come from the BoC. We are looking for a 50bp cut, with markets currently split between looking for either that, or a...

CAD A blank data calendar and an upcoming BoC decision next week should see loonie traders’ attention today focused on risks that the Governing Council could accelerate the easing pace ahead of their...

CAD USDCAD continues to trade below 1.38, even in spite of Wednesday’s soft inflation data, and a broader rally for the dollar. Indeed, this comes despite building speculation that the BoC could...

CAD Similar to the UK, yesterday’s Canadian inflation print was also soft. Unlike pound however, the loonie made gains post release, much to our surprise. USDCAD is now trading sub 1.38 in spite of...