Insights
Oil dips, Canadian dollar drops
The Bank of Canada came out and officially announced that interest rates are definitely on hold, joining the rest of the world’s central banks. The question is now which way will it go in the future? A case can be made for a hike or drop both of which have equal merit. The Bank however, […]
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By MoneyWay
Oil prices reaching recent highs, Canadian dollar weaker, what gives?
Cautionary news on the Canadian economy comes from three fronts this morning, one, the People’s Bank of China may end its recent aggressive stimulus measures, thereby reducing demand for commodities. Two, the number of Canadians who are $200 or less away from financial insolvency every month has climbed to 48 per cent, up from 46 […]
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U.S. ends Iran oil waivers, Iran threatens to close the Straits of Hormuz
Oil prices jumped higher as the Trump administration said it won’t renew waivers that let countries buy Iranian oil without facing U.S. sanctions, a move that roiled energy markets and risks upsetting major importers such as China and India. Both Saudi Arabia and the United Arab Emirates said they would fill any shortfalls, as the […]
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Canadian Dollar is on downside
USDCAD is still trading within its 150 point range, since March 03, the longer it stays within it, the chances of a large price swing become more predictable. If it breaks the top of the range 1.3440, then 1.3650 is likely, and on the downside 1.3085 is likely, if 1.3290 is broken. Canada’s retail sales […]
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Lower oil inventories, better Chinese economic data, stronger Canadian dollar
Better than expected Chinese economic data, Industrial Production and Retail Sales caused industrial based commodities to rally this morning along with oil. Also, there are rumours that China is set to take more stimulus steps to drive an expansion showing renewed signs of health. China’s latest tactic indicates its leaders are stepping up attempts to […]
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USDCAD continues to trade rangebound, oil still moving to $64 USD level
The USDCAD has traded within a 150 point range since the beginning of March, and will likely stay that way in near term. Even with oil’s 40% price jump, the USDCAD has barely responded as Canada’s economy appears to have stalled in its tracks, the housing market is barely breathing, perhaps it is time for […]
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