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USD/CAD Loonie Higher After Oil Price Hits $50

The Canadian dollar navigated a volatile trading day with little data out to Canada to support the currency. American economic indicators were in line with expectations with core durable good orders grew at 0.4 percent and orders including transportation were 3.4 percent higher, but the core data is more telling as it removes the volatile […]

Fed Rhetoric On Markets Radar

Five things the markets are talking about To the neutral observer, it’s not a surprise to see the mighty dollar encountering some profit taking of its recent gains ahead of Fed chair Yellen’s speech tomorrow. The bulk of this week’s USD rise has come from consistent jawboning from the Fed’s team. Will Yellen be as […]

Oil Unchanged, Crude Oil Inventories Posts Sharp Decline

US crude has inched higher on Wednesday, following gains which marked the Tuesday session. Crude is trading at $49.44 in the North American session, its highest level since October. Brent crude is trading at $49.60, as the Brent premium is a negligible $0.16. On the release front, Goods Trade Balance beat the estimate. Crude Oil Inventories surprised […]

USD/CAD Loonie Rises as Bank of Canada Holds and Oil Prices Move After US Inventories

The Canadian dollar had an eventful trading session today. The two main factors that would guide the CAD were: the Bank of Canada (BoC) statement at 10:00 am EDT and the release of the U.S. oil inventories at 10:30 am EDT. The BoC as expected did not change its benchmark interest rate from 0.50 percent. […]

US Crude Steady, New Home Sales Shines

US crude has posted slight gains and is trading at $48.67 in the North American session. Brent crude is trading at $48.90, as the Brent premium is a negligible $0.23. On the release front, US New Home Sales jumped to 619 thousand, well above the estimate. Richmond Manufacturing Sales declined 1 point, missing expectations. US housing […]

US Crude Drifting at $48, Manufacturing PMI Flat

US crude is showing little movement on Monday, continuing the lack of movement which characterized much of last week. Crude is trading at $47.97 in the North American session. Brent crude is trading at $48.74, as the Brent premium stands at $0.77. On the release front, it’s a quiet start to the week. US Flash […]

WTI/USD – Crude Touches 7-Month Highs, US Housing Report Shines

US crude is showing little movement on a data-light Friday, trading at $48.96 in the North American session. Brent crude is trading a drop lower, at $48.74. The trading week is ending on a quiet note, as there is just one event on the schedule. Existing Home Sales continued to improve, coming in at 5.45 million. […]

USD/CAD Loonie Struggles Against Rising USD

The Canadian dollar dropped to a one month low as the effects of the hawkish Federal Open Market Committee (FOMC) minutes released on Wednesday. The USD has gained across the board versus majors as the U.S. Federal Reserve changed market expectations with the release of the notes from the April 27 meeting. The April FOMC […]

Fed In “If” Mode

Five things the markets are talking about Yesterday’s FOMC minutes indicate that the bank was in “if” mode, as in, if data supports a rate hike, U.S policy makers ‘could’ increase rates at the next meeting on June 14-15. Accompanying the “if” message were the usual disclaimers – the bank is of course concerned about […]

US Crude on Hold Ahead of FOMC Minutes

US crude is almost unchanged on Wednesday, as crude trades at $48.35 per barrel in the North American session. Brent crude is trading at $49.52, as the Brent premium stands is steady at $1.17. In economic news, Crude Oil Inventories posted a gain of 1.3 million, much higher than expectations. Later in the day, the Federal […]

U.S Data Supports New Fed Fund Odds

Five things the markets are talking about Recent data would suggest that the U.S. economy is stabilizing, despite the tough winter. Reports released yesterday showed a pickup in U.S industrial output, continued momentum in the U.S housing sector and firming inflation, all point to stronger growth in Q2. If we add this to mix of […]

Crude Edges Above $48, Markets Eye FOMC Minutes

US crude is steady on Tuesday, as crude trades at $48.10 per barrel in the North American session. Brent crude is trading at $49.22, as the Brent premium stands at $1.12. In economic news, US consumer inflation reports posted small gains. Core CPI posted a small gain of 0.2%, while CPI improved to 0.4%. Both readings […]

USD/CAD Loonie Mixed Ahead of FOMC

Canadian manufacturing struggles to regain traction after March manufacturing sales fell 0.9 percent. The silver lining was that economists were expecting a worst fall by 1.9 percent but still show a decline in 16 of 21 industries. The better than expected data was offset by a downgrade of last month’s figures who is now a […]

Brexit Poll Puts Leave Camp Ahead

Five things the markets are talking about The Fed is having a tough time getting its own message across; you know the one that U.S rate normalization has begun. The Fed believes that market participants are caught behind the curve; by under pricing future Fed rate hikes. Later this morning, in this holiday shortened trading […]

US Crude Close to $48 as Gains Continue

US crude has posted small gains to start off the week. In the North American session, crude is trading at $47.79 per barrel. Brent crude is trading at $49.05, as the Brent premium stands at $1.26. On the release front, the US Empire State Manufacturing Index declined 9.0 points, much weaker than expected. On Tuesday, the […]

USD/CAD Loonie Rises as Oil Gets End of Glut Call

The Canadian dollar rose against the USD as oil prices surged after several oil disruptions have kept global production lower and Goldman Sachs has now called an end to crude oversupply. The investment bank had previously had a $20 call on oil prices, but now analysts are seeing stockpiles shrink with higher demand and lower […]

Oil, China Dominate Dollar Proceedings

Five things the markets are talking about Investors are beginning this holiday shortened trading week trying to avoid making any major moves given a lack of fresh trading cues. Markets are closed in Germany, Denmark, Austria, Switzerland and Norway (Whit Monday). While bank holidays are been observed in a number of others (France included). This […]

Oil at $45 a Barrel Proving No Savior as Bankruptcies Pile Up

Three bankruptcies this week shows that $45 a barrel oil isn’t enough to rescue energy companies on the verge of collapse. Since the start of 2015, 130 North American oil and gas producers and service companies have filed for bankruptcy owing almost $44 billion, according to law firm Haynes & Boone. The tally doesn’t include […]

Market, Not Fed, Caught Behind The Curve

Five things the markets are talking about. A week of consolidated trading is finally coming to an end. It has been difficult for speculators without much market guidance. This week in particular, trading sentiment has been ‘to-and-fro’ due to a lack of market conviction as to whether the sub-par global economic growth scenario is positive […]

USD/CAD Loonie Rises After US Oil Inventories Shrinks

The Canadian dollar has reversed some of the week’s earlier losses after the release of the U.S. crude inventories at 10:00 am EDT on Wednesday. The Energy Information Administration (EIA) issued the latest weekly report that showed inventories shrunk by 3.4 million barrels. The forecast called for a 500,000 to 750,000 gain. The shortfall in […]

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