Monex

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...

CAD While the rest of the G10 complex traded on the front foot yesterday, the loonie was a notable laggard. Not only did softer than expected US price growth, and the prospect of looser Fed policy,...

CAD A positive session for equities saw the loonie finish Wednesday training in the green, notching gains of just over one-tenth against the dollar in spite of the barren data calendar. Today, all...

CAD A light data calendar saw USDCAD trade in a tight range once again on Tuesday, with neither cross-asset dynamics nor Chair Powell’s testimony in Congress offering much direction for the pair...

CAD Monday saw USDCAD trading in a very narrow 0.15pp range with a blank data calendar and mixed cross asset conditions offering little direction for the pair. Similarly, a lack of domestic data...

CAD After a busy week just gone, loonie traders look set for a quieter data calendar coming up, with no major data prints scheduled out of Canada for this week. Even so, we are still inclined to...

CAD Despite an alarming slide in yesterday’s June PMIs, the loonie posted a 0.2% gain against the dollar, propelled by a rally in global equities and a broad improvement in risk conditions. That...

CAD While today’s PMI numbers should add further confirmation that the Canadian economy remains weak, it is tomorrow’s jobs report that is key for the Bank of Canada. Admittedly, markets do expect to...

CAD The return of Canadian traders to the office yesterday after the Canada Day holiday saw USDCAD drop by 0.4%, largely reversing Monday’s climb. This price action belied yet another signal that...

CAD Despite a holiday disrupted Monday due to Canada Day, USDCAD still posted gains of almost 0.5% to start the week, with the upwards impetus coming from a soft set of ISM manufacturing PMIs south...