Navigate Up
Sign In

USD strength continues

Posted on: October 02, 2017

The theme of USD strength from Friday continued over the weekend and into this morning. The GOP’s optimism around the Trump Tax plan and the possibility of a more hawkish Fed Chair beginning in early 2018 have been supporting the USD. Over the weekend violence in Catalonia as 90% of voters voted for independence has added to the political uncertainty in the Euro zone, while the United States saw the deadliest mass shooting in its history in Las Vegas last night.

On the charts, USDCAD has tested the 1.2505 (61.8% retracement level from low) multiple times overnight and this morning with 1.2530/40 representing the next key band after that. Initial support comes in around 1.2460/70. US Yields have retreated a bit from the highs but still continue to trend higher, supporting the USD against the crosses. This certainly feels like the new pain trade, with the biggest USD short since 2012.

Looking ahead to the rest of the week, the highlight will be double Non-Farm Payrolls on Friday, with other data sprinkled in. We hear from the RBA later tonight, we will see if they repeat their dovish message around the Australian Dollar. US Fed Chair Janet Yellen speaks Wednesday while on Thursday we hear from the ECB regarding their September meeting notes.

 

  • Friday's NA 1.2425 - 1.2532
  • Asia 1.2468 - 1.2503
  • London 1.2484 - 1.2525

​​

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.

1-888-404-4646

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