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

USD/CAD Drifts Lower on after Canadian Inflation Data Release; North Korea Threats Roil Markets

Published September 22, 2017
  • USD/CAD retraced back to the low 1.2300s as geo-political tensions test US dollar strength; mixed but positive from Canada is also providing the Loonie with relative strength
  • Data on Canadian consumer price index came in at 0.1% versus an expected 0.2%, Canadian month-on-month retail sales (excluding autos) showed a reading of 0.2% versus 0.4% expectations; sales in supermarkets and alcohol stores were the main contributors of the 0.2% increase
  • Equity markets are under pressure this morning after North Korean leader Kim Jong Un retaliated to US President Donald Trump’s UN speech from this week; Pyongyang said it may test a hydrogen bomb over the Pacific Ocean this weekend while NK Leader Un commented back to Trump personal attacks
  • Asian stock markets ended lower while European stocks steadied despite both Angela Merkel’s expected win in the German election this weekend and considerably strong European PMI numbers; US stocks are also pointed to a lower open
  • A number of US Federal Officials are set to speak throughout the day; investors will be watching for more details on the Feds’ plans as Fed president Williams, Fed Governor Esther George and Dallas Fed chief Robert Kaplan offer their opinions on US monetary policy
  • Oil prices are down slightly this morning ahead of today’s OPEC meeting in Vienna; OPEC is rumored to announce an extension of its supply cuts beyond March 2018