USDCAD: open 1.3962, overnight range 1.3935-1.3969, close 1.3960, WTI 61.60, Gold 3209.40
The Canadian dollar is directionless and stuck inside yesterday’s range with direction determined by broad-US dollar moves vs the major currencies. However, the upside remains limited as long as the Canada/US tariff situation remains unresolved.
WTI oil prices traded in a 61.28-62.35 range.
Asian equity indexes ended the session mixed, with Japan’s Topix barely nudging higher, Australia’s ASX 200 up 0.56%, while Hong Kong’s Hang Seng slipped 0.46%. European markets are broadly higher, led by gains in France’s CAC 40 index. U.S. S&P 500 futures are up 0.31%. The U.S. 10-year Treasury yield has eased to 4.40%, and gold is trading at 3174.28.
EURUSD traded in a 1.1182–1.1220 band, with prices hovering midrange in directionless action. Slightly better odds of a more dovish Fed tone, following disappointing inflation and PPI data earlier this week, are giving EURUSD a mild lift. However, any sustained rally is capped by expectations that the ECB will cut rates at least twice more before year-end.
Don't Waste Money With Banks.
Get Exchange Rates Up to 2% Better With KnightsbridgeFX
USDJPY moved between 144.92 and 145.73, chopping lower during Asian trade as some investors sought refuge in the yen ahead of the weekend. The slide in the U.S. 10-year yield from 4.54% to 4.369% added to the downward pressure. Japan’s economy also surprised to the downside, with Q1 GDP contracting 0.7% y/y, missing forecasts and underscoring the negative economic impact of potential Trump-era tariffs, which appear to have already cooled public spending and export demand.
AUDUSD traded in a 0.6395–0.6437 range and lacked conviction despite yesterday’s upbeat employment report. Bullish momentum has faded amid persistent worries over trade tensions between the U.S. and China, especially after news surfaced that the U.S. is preparing to blacklist additional Chinese semiconductor firms.
The Michigan Consumer Sentiment survey is due with the headline number expected to rise to 5.34 from 52.2. In addition, housing starts, building permits and the export import price index are on tap.
We are built to beat bank exchange rates and save you money
KnightsbridgeFx is registered with FINTRAC, under the MSB registration number M09819788. Like most financial institutions, we are required to validate the identity of all clients. We have strict measures in place to protect your privacy.
Our Offices
Main office (Appointment only)
First Canadian Place
100 King Street West
Suite 5700 Toronto, ON,
M5X 1C7
(416) 479-0834
Toll-Free: 1-877-355-5239
Fax: 1-877-355-5239
All rights reserved. Knightsbridge Foreign Exchange
Currency Exchange Canada.
