USDCAD a little lower, markets at the whim of the next text, no clear direction

By MoneyWay | Jul 17, 2019

Secretary of State Mike Pompeo said on Tuesday that Iran appeared willing to negotiate over its missile program “for the first time,” in what he and President Trump presented as evidence that sanctions and military pressure were working, less than a month after the president halted a planned military strike against Iran.

But within hours of the statement to reporters, delivered before a cabinet meeting at the White House, the idea was shot down by Iran’s foreign minister, Mohammad Javad Zarif, who was in New York for a meeting at the United Nations. His spokesman said that the two men had misinterpreted Mr. Zarif’s public statements, in which he repeated past demands that if the United States “wants to talk about missiles, it should stop selling weapons, including missiles, to regional states.”

As a result, oil prices are in a bit of a flux and should be treated as such, no clear direction.

Currently             Close                     Range

USDCAD               1.3040                   1.3088                   1.3038-1.3094

EURCAD               1.4645                   1.4672                   1.4636-1.4678

GBPCAD               1.6213                   1.6239                   1.6178-1.6254

                                                                                         Prior                      Actual

CA:         Consumer Price Index June          M/M     0.4%                      -0.2%

                                                                                Y/Y         2.4%                      2.0%

                Manufacturing Sales May             M/M     -0.4%                     1.6%

                                                                                Y/Y         3.1%                      3.0%

US:         Housing Starts June                                        1.265M                 1.253M

Visit us in-store for the best rate!

Where to Find Us

Get Daily Rates in Your Email Inbox