Monex

CAD The loonie’s seemingly inexorable move higher continued on Tuesday, making it the fifth down session in a row for CAD. This move looks at little risk of petering out this morning too, with USDCAD...

CAD The loonie continues to trend lower, in line with our longstanding base case. As previously noted, the differing fortunes on either side of the US-Canadian border warrant a significantly higher...

CAD The emphasis for USDCAD traders to start the week remains Friday’s US jobs figures. This dynamic saw a decent jump for the pair on Friday, leaving the loonie edging towards 1.36 versus the...

CAD USDCAD drifted higher on Thursday, belying the light North American data calendar. In part, this was a function of broader strengthening for the greenback. But, it was nevertheless interesting to...

CAD Despite continued conflict in the Middle East, the loonie gave back some oil-fueled gains through Wednesday trading. This move higher for USDCAD is likely to extend today too, with PMI readings...

CAD The loonie was arguably the standout performer on Tuesday, climbing against the dollar, even as much of the G10 FX was in retreat on the escalating conflict in the Middle East. That said, this...

CAD Similar to the pound, it should be a quiet day coming up for the loonie as well. Only September’s manufacturing PMI is scheduled for release, and this is unlikely to disrupt a narrative that the...

CAD Despite a solid set of Canadian growth readings, USDCAD rallied on Friday, somewhat surprisingly. Even so, we continue to think the direction of travel for the pair is higher, assuming our...

CAD Neither SEPH employment data nor the CFIB business survey proved market moving for USDCAD on Thursday. Today, however, July GDP figures are likely to be somewhat more impactful. Traders are...

CAD The loonie pared some recent gains on Wednesday, though still managed to outperform much of the G10 complex, with USDCAD rising just 0.4%. Today, however, we think this dynamic is set for a...

CAD CAD gained ground on Tuesday, testing multi-month highs against the softening USD. Markets are pivoting into a USD-short stance on rising expectations of future Fed rate cuts, helping to give the...

USD With the market still digesting the Fed’s cut last week, USD is lower across the board. The US Dollar index which measures the strength of the currency against its major peers is close to its...

CAD An appearance from Bank of Canada (BoC) Governor Tiff Macklem fizzled out on Friday, failing to jumpstart CAD flows as the BoC Governor focused on non-monetary policy musings. Looking ahead to...

CAD USDCAD was fairly flat during yesterday’s trading session as the markets digested the Fed’s rate cut on Wednesday evening. Although USD remains under some selling pressure for the second straight...

CAD The loonie is trading modestly stronger this morning after last night’s Fed meeting. That said, we still think USDCAD looks cheap when considering the divergent fundamentals of the US and Canada....

CAD As with other G10 currencies, US retail sales are likely to be closely studied by loonie traders. Indeed, we suspect it could be more significant for CAD than this afternoon’s CPI report. Unlike...