Risk sentiment is more positive this morning and the CAD is taking advantage of the better mood to push broadly higher, producing the second best performance among the major currencies in the overnight markets behind the NZD. Equity markets are...
The Canadian dollar is still struggling today, with risk still firmly off. If the mood doesn’t change
and the S&P 500 ends the day in negative territory, that will be the first 3-day losing streak since the dying days of October, when USD/CAD rallied...
Commodity prices have slipped back, helping lift the USD broadly. The underlying trend remains firmly against the USD on a number of fronts but it is possible perhaps that Chairman Bernanke’s comment Monday that the Fed was “attentive to the...
The PBoC’s Monetary Policy Report was released earlier today. The report indicated that the central bank will “improve the yuan exchange rate mechanism” moving forward based on capital flows and fluctuations in the major currencies. This...
Risk is “on” in a big way so far Monday, lifting the NZD to the top performance spot on the day so far while the JPY and the USD slump. Metals and crude oil prices are pushing higher in response to the pro-risk backdrop and the CAD is trying to...
