Insights
USDCAD unchanged still waiting for NAFTA.
While the NAFTA talks continue in Washington, the Canadian dollar remains basically unchanged, the only piece of Canadian economic data is tomorrow’s housing starts, do not expect much of a difference. The big movement in currencies today is the euro and sterling, both moved higher against the dollar on Monday after the European Union’s top […]
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Canadian Dollar Lower Amid employment Numbers
Ontario and British Columbia were the two big losers in terms of jobs growth, Ontario lost 80,100 part-time jobs, nationally the total losses were 92,000 part-time. British Columbia normally a leader in jobs growth surprisingly showed a negative number. This news although a bit negative is not the dark cloud on the Canadian dollar. The […]
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NAFTA talks continue, Canadian dollar a bit weaker
The ongoing NAFTA talks continue overhang the Canadian dollar, there is still a chance that nothing will happen by month end causing more volatility to the currency. There clear direction as to where the CAD is going, everything is predicated on what the next senior government official says or tweets. Support Resistance USDCAD 1.3200, 1.3175, […]
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NAFTA Talks are at the Forefront
Canada has until Friday to decide on what it will keep or not keep in the new NAFTA agreement, the U.S. and Mexico have said they will go it alone if Canada cannot agree. One of the issues for Canada in the revised deal is the U.S. effort to dump the Chapter 19 dispute resolution […]
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U.S. and Mexico reach preliminary trade deal, but what about Canada?
The Canadian government was quick to point out that it was not left out of today’s announcement, stating that Canada still has to approve the overall deal. Mexico and the U.S. were focused primarily on the auto trade, Trump believes that there have been too many job losses in the U.S. from which Mexico has […]
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USDCAD Still in a Narrow Channel
Following an upwardly revised 2.2 percent increase in May, Canadian retail sales edged down a less than expected 0.2 percent in June. Sales were down in 6 of 11 subsectors, representing 52 percent of total retail trade. On the year, sales were up 3.8 percent. In volume terms, real sales were down 0.3 percent and […]
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