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USDCAD continues to trade rangebound, oil still moving to $64 USD level

By MoneyWay | Apr 16, 2019

The USDCAD has traded within a 150 point range since the beginning of March, and will likely stay that way in near term. Even with oil’s 40% price jump, the USDCAD has barely responded as Canada’s economy appears to have stalled in its tracks, the housing market is barely breathing, perhaps it is time for all levels of government to re-evaluate their taxes and mortgage funding formulas before there is a serious drop in house prices that effectively wipes out a lot of home owners equities.

Currently             Close                     Range

USDCAD               1.3355                   1.3367                   1.3346-1.3403                   

EURCAD               1.5080                   1.5110                   1.5078-1.5154

GBPCAD               1.7425                   1.7513                   1.7419-1.7540

                                                                                                Prior                      Actual

CA:   Manufacturing Sales February M/M              0.8%                      -0.2%

                                                                      Y/Y                   4.4%                      0.9%

US:   Industrial Production March

                                Production M/M                              0.1%                      -0.1%

                                Manufacturing M/M                    -0.3%                      0.0%

                                Capacity Utilization                       79.0%                   78.8%

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