img CDN
img AUS
img NZ
img US
Call us now: 1.844.363.7297
imgOnline Dealing Login

Loonie Weakens after BoC Deputy Governor Speech; Markets Subdued Ahead of Federal Reserve Meeting

Published September 19, 2017
  • USD/CAD rose to 1.2300 yesterday after Bank of Canada Deputy Governor Timothy Lane noted that the BoC is paying close attention on how the economy responds to this year’s interest rate increases; the Loonie tumbled nearly 1 cent in response Lane’s specific reference to the effects of a stronger Canadian dollar
  • Growth in Canadian manufacturing sales disappointed with a -2.6% decrease in month-on-month sales versus expectations of -1.7%; the decrease was primarily the result of lower sales of motor vehicles and motor vehicle parts
  • Data on US building permit beat expectations with 1.3 million new permits; US housing starts also fared well with 1.18 million housing starts versus an expected 1.17 million
  • The Federal Reserve is set to commence their two-day meeting on US monetary policy; there will be no news out of the Fed until tomorrow’s statement at 2:00 PM EST
  • US President Donald Trump is set to address global diplomats at the United Nations today at 10:30 AM EST; Trump is likely to address issues on North Korea, Iran’s nuclear program and terrorism
  • Oil prices posted modest gains this morning despite proposed tightening from OPEC; both Saudi Arabia and Iraq showed reductions in oil supplies in an effort to raise global oil prices