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USD/CAD Canadian Dollar Higher After Dollar Struggles

November 6, 2017 Alfonso Esparza 0

The Canadian dollar appreciated 0.29 percent on Monday. Trading opened for the USD/CAD at 1.2771 and is now on track to end near the 1.2721 price level. The economic calendar looks sparse this week, but geopolitical developments around the world are driving market movements. Oil prices have surged due to the high profile arrests in […]

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BOE Expected to Hike on Thursday But by How Many Votes?

November 1, 2017 Alfonso Esparza 0

The Bank of England (BOE) is widely expected to raise interest rates from record lows Thursday, but market participants will be closely watching for clues on what the U.K. central bank will do next. This will be one of the BOE’s most significant meetings in some time — not only because of the likely rate […]

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US Construction Spending rose 0.3% in September

November 1, 2017 Alfonso Esparza 0

The Commerce Department said on Wednesday that construction spending increased 0.3 percent to $1.22 trillion. But August’s construction outlays were revised down to show a 0.1 percent gain instead of the previously reported 0.5 percent rise. Economists polled by Reuters had forecast construction spending unchanged in September. Construction spending increased 2.0 percent on a year-on-year […]

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EUR/USD Dollar Lower Against Euro Awaiting ECB Decision

October 25, 2017 Alfonso Esparza 0

European Central Bank Anticipated to Taper But Extend Duration The US dollar is mixed against major pairs on Wednesday. The greenback is weaker against the pound, euro, yen and Swiss franc and appreciated versus the commodity pairs (kiwi, aussie and the loonie). The Bank of Canada (BoC) kept rates unchanged and provided dovish comments that […]

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USD/CAD Canadian Dollar Lower Ahead of Bank of Canada

October 24, 2017 Alfonso Esparza 0

Bank of Canada expected to stand pat on Wednesday The US dollar is trading higher against most major pairs. The EUR is the outlier as the USD is down against the single currency ahead of the European Central Bank (ECB) monetary policy announcement on Thursday. The Bank of Canada (BoC) is up first with the […]

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Oil Higher on Iraq Disruption Following Military Intervention

October 16, 2017 Alfonso Esparza 0

Oil prices closed in on the highest level in six months as a conflict in Iraq spilled over into one of the nation’s key crude-producing hubs. Iraqi forces on Sunday launched a campaign to retake control of the area surrounding Kirkuk, an ethnically diverse area controlled by the semiautonomous Iraqi Kurdistan region. Government troops took […]

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NAFTA Uncertainty Hitting MXN

October 16, 2017 Alfonso Esparza 0

Mexico’s Finance Minister Jose Antonio Meade said on Monday that the peso’s recent depreciation reflects uncertainty about the NAFTA renegotiation process and questions about how quickly the U.S. Federal Reserve will normalize rates. “The exchange rate reflects different kinds of uncertainties, many of which we cannot control, such as the normalization process of interest rates […]

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Muted US Inflation Derails Dollar Recovery

October 13, 2017 Alfonso Esparza 0

Global Political Uncertainty in Driving Seat The US dollar is trading lower on Friday after the consumer price index (CPI) and the preferred inflation metric the core CPI came slightly under expectations. Fed speakers had been divided in their comments leading up to the release. Doves thought it was a mistake to keep raising rates […]

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USD/CAD Canadian Dollar Lower After Oil Falters

October 12, 2017 Alfonso Esparza 0

The Canadian dollar depreciated on Thursday due to a report by the International Energy Agency that dampened the energy market’s optimism on demand growth. The IEA numbers put demand for Organization of the Petroleum Exporting Countries (OPEC) crude would be at around 32.5 million barrels which is 150,000 barrels below current production levels. The OPEC […]

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Japan US Trade Talks Scheduled for Next Week

October 12, 2017 Alfonso Esparza 0

Japanese Deputy Prime Minister Taro Aso and U.S. Vice President Mike Pence are likely to be at odds next week over U.S. calls to launch negotiations for a bilateral free trade agreement, Japanese government officials said Wednesday. A second round of the high-level economic dialogue, slated for Monday in Washington, comes as the United States […]

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