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Greenback Climbs on Weaker Canadian Wholesale Trade and Lower Oil
Published February 20, 2018
The US dollar continues to climb against other majors this morning, though expectations are for the upward movement to be limited by ongoing concerns around the US deficit, which is expected to climb to almost $1 trillion in 2019. The recent infrastructure spending announcement, as well as Trump’s tax reform and corporate tax cuts, has contributed to the increase.
Canadian Wholesale Trade data came in weaker than expected at -0.5% vs. an expected 0.4%.
WTI crude is down 0.90% to $61.80 with Brent crude down 0.78% to $65.16, at the time of writing.