Navigate Up
Sign In

USDCAD range bound on light volume

Posted on: November 10, 2017

USDCAD slid most of the session yesterday as the details released by regarding US tax reform from the Senate’s markup disappointed the market. While not a surprise, the fact that they confirmed a corporate tax cut would be delayed to 2019 was not what the business community wanted to hear. We are sitting just above a big level as I write this, with 1.2660/70 major support. Without any data on the docket today, watch rate spreads and oil. Two year spreads between Canada and the US narrowed a bit as US yields retraced on the tax reform news while WTI continues to grind above $57. There should be resistance around 1.2750 as participants look to fade rallies ahead of CPI numbers for both countries next week. Expect light volumes today ahead of the Canadian long weekend.

Across the G10 we are seeing tight ranges in most pairs overnight and to start the morning. GBP is a bit of an exception as the currency continues to get whipped around by Brexit headlines, currently the best performer of the group. USDJPY tumbled on disappointing tax reform details but not enough to break through the recent 113-114.50 range.


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

GlassdoorThis icon serves as a link to download the
eSSENTIAL Accessibility assistive technology app for individuals with physical disabilities. It is
featured as part of our commitment to diversity and inclusionDiversity and Inclusion

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

©ATB Financial 2019. All rights reserved. ATB Financial is a trade name/registered trademark.

ATB Financial