News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Feels like the market has been front-running next week’s FOMC announcement, which will reveal updated dot plot projections. Expectations clearly set for a more hawkish shift in guidance. That said, if the Fed does not deliver, US Dollar bulls could be disappointed. $USD $DXY https://t.co/o2v6ibac3L
  • USD/CAD has been chopping around the past week-and-a-half, offering virtually no cues on its next direction. Get your market update from @PaulRobinsonFX here:https://t.co/eq1YkOa3mC https://t.co/V6h8BjyeGa
  • FDA panel votes 16-3 against approving Covid-19 booster shots - BBG
  • RT @C_Barraud: 🇺🇸 Americans Haven’t Been This Down on #Housing Market Since 1982 - Bloomberg *Link: https://t.co/wWFnbAwIDO https://t.co/6G…
  • US Dollar Price Action Setups Pre-FOMC: EUR/USD, GBP/USD, USD/CAD https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/09/17/US-Dollar-Price-Action-Setups-pre-FOMC-EURUSD-EUR-USD-GBP-USD-GBPUSD-USD-CAD-USDCAD.html https://t.co/J25MYsXCa9
  • The US Dollar is pushing up to a fresh September high after the release of University of Michigan Consumer Sentiment data. Get your $USD market update from @JStanleyFX here:https://t.co/2CDNZh2a89 https://t.co/bULXuCaHKk
  • I have this $SPX chart taking over one of my whole screens, and I just keep staring at that 50-day moving average... https://t.co/R9LQAuL2DL
  • RT @TheStalwart: Nice chart, which shows why countries in green on the perimeter, like Iran, Peru, and Turkey are known for their stability…
  • Selling pressure strengthening in Wall Street two hours before the close. S&P 500 down roughly 1% intraday, the largest decline since August 18th #trading $SPX $SPY
  • One of the strongest correlation with Bitcoin at the moment is the US 10-Year Treasury yield https://t.co/uZBzJ7yiXf
Canadian Dollar Latest: CPI Higher, CAD Faces Upside Risks

Canadian Dollar Latest: CPI Higher, CAD Faces Upside Risks

Justin McQueen, Strategist

Canadian Dollar Analysis & News

  • Canadian Inflation Continues to Edge High – BoC Vigilant
  • Upside Risks to CAD as Oil Edges Higher

Canadian Inflation Continues to Edge High – BoC Vigilant

Canadian Inflation data printed above expectations on both the monthly and yearly rates at 0.2% (vs 0.1%) and 4.1% (vs 3.9%) respectively. Meanwhile, the BoC’s preferred measure (average of median, trim and common CPI) rose to 2.56% from 2.46%. Unlike the Fed, the BoC are seemingly more attentive to inflation risks with Governor Macklem stating that he will be closely watching inflation data. Now while this will unlikely alter the decision for the BoC to taper the pace of asset purchases at the October meeting, the figures are likely more important in regard to the timing of a rate hike, which as it stands is priced in for H2 2022. Therefore, should inflation remain elevated risks are for earlier tightening presenting upside risks for the Loonie.

Market Reaction: Overall, a relatively muted reaction in the Canadian Dollar with greater attention placed on risk appetite. That being said, given where oil prices are trading, CAD is looking relatively cheap.

USD/CAD (Inv) vs Brent Crude Oil

Canadian Dollar Latest: CPI Higher, CAD Faces Upside Risks

Source: Refinitiv

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES