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Monex Monex

Monex's Comment & Analysis.
Access a complete archive of all posts and research produced by Monex, including current material.
Tariff risks trigger a dollar whipsaw By Monex - 13 hours ago

CAD Perhaps unsurprisingly given the risk that tariffs pose to the Canadian economy, USDCAD saw a sharp reaction to tariff headlines on Monday, dropping from above 1.445 to almost 1.425. That slide...

Trump takes over By Monex - Jan 20, 2025

USD Despite the closure of many US markets for MLK day, Donald Trump’s inauguration will nevertheless keep market focus squarely on that side of the Atlantic to start the week, with the dollar likely...

Friday lull By Monex - Jan 17, 2025

CAD The Canadian dollar has not seen significant movement in response to yesterday’s data or news, with the focus primarily on global developments. As markets remain digesting the latest US economic...

The dollar remains dominant By Monex - Jan 16, 2025

CAD The Canadian dollar continues to face headwinds, driven by political uncertainty and tariff-related risks, which have kept USD/CAD near multi-year highs. With a relatively light economic calendar...

USD steady By Monex - Jan 15, 2025

CAD The Canadian dollar continued to trade near multi-year lows on Tuesday, hampered by political uncertainty at home and fears of new US tariffs under the soon-to-be-seated administration. With a...

Sterling startled By Monex - Jan 14, 2025

CAD With Canada at a political crossroads and damaging tariffs highly likely it is no wonder that USDCAD is trading at levels only seen twice in the last 10 years. There are no data releases of note...

USD strength By Monex - Jan 13, 2025

CAD USDCAD extended its recent strength during Asian trading hours on Monday. The potential US trade tariffs has recently dragged CAD lower against USD, its biggest trading partner. However, the...

Payrolls in focus to end the week By Monex - Jan 10, 2025

CAD It is not just the US that is due to receive a jobs report today. Canada is also set to see a new round of labour market data. Unlike the counterpart US readings, however, we expect prints north...

Sterling slips despite a lack of obvious catalysts By Monex - Jan 09, 2025

CAD In line with the greenback strength seen on Wednesday, USDCAD once again tested 1.44 before easing back through the evening. That said, given our call for further dollar upside, we think it is...

Trump risks light a fire under the dollar By Monex - Jan 08, 2025

CAD Despite Trump’s comments, USDCAD was remarkably stable through Tuesday trading. Granted, the pair briefly threatened to break below 1.43, but a rebound through afternoon trading saw just a 0.5%...

The dollar slips on tariffs rumours By Monex - Jan 07, 2025

CAD Political drama gripped loonie traders on Monday, with news that Justin Trudeau is set to resign representing the major non-US story to start the week. We would, however, note that he has vowed...

The dollar keeps climbing as Christmas approaches By Monex - Dec 20, 2024

CAD The loonie pared back some post-Fed losses through Thursday trading. Even so, USDCAD remains elevated, hovering around 1.44 as markets begin to wind down for Christmas. Unlike some other currency...

A hawkish cut from the Fed By Monex - Dec 19, 2024

CAD USDCAD took yet another leg higher on the FOMC’s latest policy decision, with the pair shooting through 1.44 overnight. While the move has moderated somewhat this morning, the loonie is still...

FOMC in focus today By Monex - Dec 18, 2024

CAD Despite a modest undershoot for all-items inflation in October, we are inclined to see yesterday’s CPI report as a non-event for the BoC. Readings largely matched expectations, with marginal...

FX markets get ready for the Fed By Monex - Dec 17, 2024

CAD The loonie continues to test new lows this morning following news that Finance Minister Chrystia Freeland is set to resign. The announcement leaves Justin Trudeau’s government on the brink of...

More central bank rate decisions By Monex - Dec 16, 2024

CAD The Canadian Dollar (CAD) has been under pressure recently following last weeks decision by the Bank of Canada (BoC) to ease its monetary policy aggressively. The BoC slashed its borrowing rates...

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