Monex

CAD While Friday’s Canadian jobs report is the key domestic event of note, until then, cross-asset dynamics are likely to be in the driving seat for USDCAD. On this point, neither of the loonie’s two...

CAD US recession risks saw USDCAD climb through Thursday trading, a move that ultimately saw the loonie giving up 0.5% against the greenback. Moreover, given the continued risk-off mood visible...

CAD While most eyes were on the Fed yesterday, Canadian GDP data for May proved much more informative for USDCAD traders, seeing the pair fall 0.3%. The data showed that the economy grew by 0.2% MoM,...

CAD After a quiet start to the week, today’s GDP reading combined with this evening’s Fed decision should give loonie traders something to finally chew on. We think both events should prove net...

CAD The slow grind higher for USDCAD continued to start the week. Despite a lack of domestic catalysts from either the US or Canada, a risk-off tone on Monday helped the loonie to slide a further...

CAD The loonie should take more of a back seat this week, with central bank meetings in the US, UK, and Japan in focus for traders, though given the market bias to continue pricing BoC easing...

CAD The loonie continued to track lower against the dollar on Thursday, in line with our call for the pair. All told, we think current valuations better reflect Canadian fundamentals, having spent...

CAD While the BoC cut rates, as was widely expected and in line with our pre-announcement call, yesterday’s meeting skewed dovish, with Governor Macklem appearing to leave the door open to cuts at...

CAD Even as traders elsewhere in the world have growth in focus today, loonie watchers will be monitoring the BoC like hawks, with a rate decision set to be unveiled at 14:45 BST. We expect the...

CAD Traders turned bearish on the loonie through Monday’s session, a move that saw USDCAD climb a quarter of a percent to start the week. Whilst the loonie’s slide arguably belied cross-asset...

CAD The BoC’s Wednesday rate decision is front and centre for the loonie this week. As we have pointed out previously, a combination of soft domestic growth, an unwinding labour market, and inflation...

CAD This afternoon’s retail sales data marks the last major data release before the BoC announces its rate decision next week. That said, we doubt it can do anything to derail the prospect of a cut...

CAD The Canadian data calendar takes a breather following Tuesday’s inflation data, with retail sales on Friday the only other release of note for the week. This should keep the CAD trading at the...

CAD June CPI data was in focus for loonie traders yesterday, and based on those numbers, we think there is little reason for the BoC not to cut rates when they meet next week. The data confirms that...

CAD Yet more evidence of the Canadian economy’s ongoing struggles saw the loonie on the back foot to start the week, with USDCAD rising by 0.3pp on Monday as a result. Specifically, the Bank of...

CAD While today’s comments by Chair Powell will hold the attention of loonie traders to start the week, tomorrow’s Canadian inflation report is likely to be the key event as far as the Bank of Canada...