Navigate Up
Sign In

USD rebounds this morning after positioning washout yesterday

Posted on: October 12, 2017

It was a very quiet session ahead of the US Fed September meeting minutes yesterday, as little in the way of new information was expected. That turned out to be true for the most part, with one exception being the comment that many members were concerned about low inflation being more permanent than transitory. With little else to latch onto yesterday, the market focused on this and USD was sold off against the crosses. USDCAD took a run at support around 1.2440 before bouncing off the level earlier this morning.

Not much on the calendar today, as US PPI came in a little better than expected while Canadian housing numbers missed expectations slightly. Later this morning we will get crude inventory numbers which can certainly add some noise to Funds. Of all the panels today the one involving Governor Powell from the US Fed and Mario Draghi from the ECB has the most potential to bring any monetary policy discussion. US CPI looms large on the calendar tomorrow, with support continuing to sit around 1.2420 and again at 1.2390 and resistance coming in around 1.2570/80.

Looking across the G10 currencies, it is the Pound that is lagging behind this morning after comments by the EU’s Chief Negotiator that they are in a deadlock with regards to the UK’s exit penalty. Little progress has been made ahead of the EU Leaders Summit next week, and rumors of an extension of Article 50 are starting to form.

  • Yesterday's NA 1.2453 - 1.2518
  • Asia 1.2433 - 1.2462
  • London 1.2435 - 1.2491

​​

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 InclusionATB Listens

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