Navigate Up
Sign In

USD slides continues after dovish Fed’s minutes

Posted on: February 23, 2017

Fed minutes were slightly dovish with no hints of a March hike yesterday. USD sell off after the minutes and has continued into the overnight led by the strength of MXN and AUD. Euro has outperformed on the news that French candidate Bayrou is pulling out of the race and backing Macron. This is negative for Le Pen who’s in the lead from the poll currently.

USDCAD is still very much a range trade as it has been contained within the 1.2950/1.3200 range since the end of January aligning with WTI stuck between 50 and 55 dollar per barrel. With the market focused on the French election and March Fed hike looking increasingly off the table, I suspect the USDCAD will be stagnant till middle of March.

More interesting is the Mexican peso that has gain further strength on the back of a new hedging program using non-deliverable forward. This will give the Banxico more bullets with less concern of decreasing foreign reserves. This couple with strong risk sentiment as seen by strong flow into emerging market currencies has definitely supported the peso. The next key level is the 19.40/60 area, will definitely looking into those area to see how price action plays out.

  • Previous Day’s NA Range 1.3143 - 1.3210
  • Asia overnight range 1.3132 – 1.3171
  • London overnight range 1.3116- 1.3161


Most Recent Market Updates

November 20, 2017

Natural gas gains 4.4 cents

NYMEX natural gas climbed 4.4 cents higher on Friday.

November 20, 2017

Crude gained $1.41

Crude prompt futures gained $1.41 on Friday to close the day at $56.55.

November 17, 2017

Natural gas falls 2.7 cents

NYMEX natural gas continued it’s decent on Thursday.

November 17, 2017

Crude prices slide $0.19

Crude prompt futures traded in a 69 cent range.

November 17, 2017

USDCAD range bound as Canadian CPI uneventful

Domestically we saw the biggest release of the week a few minutes ago.

November 14, 2017

Natural gas loses 5 cents

Cold weather emerged over the long weekend in the US Midwest to East as anticipated.


Talk to a specialist

GlassdooreSSENTIAL Accessibility™Diversity and Inclusion

About ATB | Contact Us | Find a Branch or ABM | Current Rates | Privacy and Security | Legal | Code of Conduct | Site Map | Vendor Resources

2017 ATB Financial. All rights reserved. ®ATB Financial is a trade name/registered trademark of Alberta Treasury Branches.

ATB Financial