China issued two commentaries through its party newspaper warning of a “technology cold war” with the U.S. Global equity markets fell, and so have commodities especially oil, which has dropped as mush as 5.7%. Currently, West Texas Intermediate is hovering around $58.25 USD a barrel. This news, along with yesterday’s higher inventory numbers have taken any wind out of the sails on oil.
The USDCAD is higher, still in the recent trading range, Tuesday’s strength is just a blip and basically been ignored, expect this range to continue.
Currently Close Range
USDCAD 1.3468 1.3435 1.3432-1.3502
EURCAD 1.5035 1.4980 1.4980-1.5046
GBPCAD 1.7050 1.7011 1.6962-1.7082
US: Jobless Claims wk5/18 212K 211k
New Home Sales April 723K 673K