Navigate Up
Sign In

CAD follows crude as oil headlines push around commodity currencies

Posted on: November 17, 2016

CAD was dragged around by Crude yesterday, as a bearish EIA inventory report caused initial USD strength and CAD weakness was quickly forgotten about after the Russian Oil Minister hit the tapes and proclaimed an OPEC agreement at the end of the month was likely. This sparked CAD buying, causing USDCAD to test 1.3400 before rebounding slightly.

Overnight USDCAD tested the psychological level of 1.3400 again, but support held. UK Retail Sales came in way above expectations causing GBP to strengthen before participants faded the move. This morning USD is strengthening after comments overnight from Harker, Kashkari and Mester suggesting that is appropriate to raise rates now. Yellen also spoke this morning, stating that a rate hike could be appropriate relatively soon, suggesting December is still on the table. A busy day for data, with US Housing Starts coming in above expectations this morning, while Core CPI saw a very slight miss to the downside. US Initial Jobless Claims came in below expectations.

Happy trading!

  • Yesterday’s NA Range 1.3405 – 1.3486
  • Asia Overnight Range 1.3419 – 1.3450
  • London Overnight Range 1.3400 – 1.3443


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 | Supplier Resources

2018 ATB Financial. All rights reserved. ©ATB Financial is a trade name/registered trademark.

ATB Financial