Markets this morning were generally better till President Donald Trump tweeted a complaint that China is “letting us down” by not buying U.S. farm products. Treasuries retreated after the latest CPI data came in hotter than anticipated, the dollar dropped for a second day and gold slipped.
Oil prices are mixed on yesterday’s lower inventory numbers which has been offset by OPEC’s comments that it expects an overall oil surplus in the coming year.
The USDCAD will likely remain within a narrow range for today and tomorrow.
Currently Close Range
USDCAD 1.3082 1.3082 1.3042-1.3092
EURCAD 1.4718 1.4718 1.4695-1.4734
GBPCAD 1.6415 1.6355 1.6334-1.6422
US: Consumer Price Index June M/M 0.1% 0.1%
Y/Y 1.8% 1.6%
Jobless Claims wk7/6 222K 209K