Canadian Dollar Monthly Outlook: December, 2017

Economic Outlook and Summary November’s Bank of Canada rate decision outlined a cautious, data dependent approach to future monetary policy tightening. Of primary importance are inflationary and employment data. The unemployment rate has declined to 5.9%, the lowest in nearly a decade, an indicator of labour market strength. However, inflation continues to lag behind the Bank of Canada’s target of

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Cyber Friday 2017 Canadian Dollar Update

he Canadian dollar was rangebound in overnight currency exchange markets.  Oil is at $56.07 and gold is at $1,289.  US futures are higher. There are no major domestic data releases scheduled for today. The Canadian dollar is soft, trading narrowly of late in the absence of domestic data. Domestic rate expectations have moderated slightly following Friday’s CPI release, as inflation

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Black Friday 2017 Canadian Dollar Update

The Canadian dollar was rangebound in overnight currency exchange markets.  Oil is at $55.89 and gold is at $1,285.  US futures are mixed. There are no major domestic data releases scheduled for today. The short term Canadian dollar technicals are neutral.  For today, USD resistance is at 1.2852.  Support is at 1.2730. CAD is lower this morning, following today’s release

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Canadian Employment Beats Expectations

he Canadian dollar was rangebound in overnight currency exchange markets.  Oil is at $54.72 and gold is at $1,276.  US futures are higher. Today both Canada and the US released employment data for October. The short term Canadian dollar technicals are neutral.  For today, USD resistance is at 1.2881.  Support is at 1.2643. The Canadian dollar is sharply higher early

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AUGUST GDP MISSES EXPECTATIONS

The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $54.12 and gold is at $1,273. US futures are higher. Today Canada released GDP data for August. The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.2917. Support is at 1.2845. The Canadian dollar is lower once again this morning, testing recent

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Canadian Data Crushed by Monster Data Disappointment

The Canadian dollar was crushed by worse than expected domestic data on Friday, and it hasn’t recovered. The October 20 release of August Retail Sales and the September inflation report disappointed markets and sent traders scrambling to sell Canadian dollars. External events were also putting downward pressure on the Canadian dollar.  The US dollar rallied steadily throughout last week, supported

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