Second quarter earnings have carried equity markets into positive territory for the week, markets have not only brushed off Monday’s drop but are now even higher. Commodities are mixed, energy is barely higher, metals are down and agricultural futures are down as well.
The Canadian dollar is following suit, slightly weaker to the USD, retail sales although down were better than anticipated, leaving traders with no reason to trade one way or the other.
Expect a narrow range today as the week ends.
Currently* Close Range
USDCAD 1.2582 1.2564 1.2555-1.2607
EURCAD 1.4801 1.4801 1.4772-1.4822
GBPCAD 1.7308 1.7289 1.7248-1.7330
*Indicative rates only
CA: Retail Sales May M/M -5.7% -2.1%
Y/Y 56.7% 24.6%
US: PMI Composite Flash July 63.9 59.7
Manufacturing Index 62.6 63.1
Services Index 64.6 59.8