USD flows: Markets calm despite risks to Fed independence

January 12, 2026 7:32 PM UTC

The market reaction to the Dep’t of Justice investigation of Fed Chairman Powell has been muted, with Trump still facing several obstacles to gaining control of the Fed.

USD. CAD flows: US employment report slightly softer, Canadian report in line

January 9, 2026 1:51 PM UTC

USD edges lower after employment report

USD flows: US data USD supportive

January 8, 2026 2:00 PM UTC

Jobless claims, Challenger job cuts and US trade data all USD positive

EUR, USD, JPY, GBP, AUD, CAD flows: Early risk positive tone, JPY remains soft

January 2, 2026 7:51 AM UTC

Likely to be a quiet Friday with holidays extended. Mild risk positive tone with JPY still weak

USD flows: USD slips on weaker CPI

December 18, 2025 1:56 PM UTC

Weaker than expected US October/November CPI triggers USD sell off

CAD flows: CAD edges lower after neutral BoC statement

December 10, 2025 2:55 PM UTC

BoC leaves rates unchnaged but CAD a touch lower as CAD yields drop modestly

USD, EUR, JPY, AUD, CAD flows: Fairly neutral picture ahead of central bank meetings

December 8, 2025 8:06 AM UTC

German production data recovers but trend remains weak. USD steady awaiting FOMC

CAD flows: CAD firmer after stronger GDP

November 28, 2025 2:18 PM UTC

USD/CAD dipping below 1.40 as CAD front end yields edge up following stronger than expected September GDP

USD flows: USD slightly softer after mixed employment report

November 20, 2025 1:43 PM UTC

Employment report mixed despite stronger than expected rise in payrolls. Mild USD negative reaction seems unlikely to persist

CHF, JPY, CAD flows: CHF awaits GDP, CAD firm ahead of CPI

November 17, 2025 7:50 AM UTC

EUR/CHF back above 0.92 ahead of GDP data. CAD firm on general risk bid.

CAD flows: CAD rises on strong Canadian employment report

November 7, 2025 1:52 PM UTC

USD/CAD back below 1.41 with CAD yields higher after strong employment report. Risks now balanced and dependent on US data

CAD flows: CAD gains as BoC produces a hawkish cut

October 29, 2025 2:08 PM UTC

USD/CAD a little lower, but scope for declines quite modest

AUD, CAD, NOK flows: Commodity currencies higher

October 28, 2025 3:02 PM UTC

Commodity currencies all higher in North America morning trading

USD/CAD flows: Elbows Up

October 24, 2025 5:20 AM UTC

Trump said he was terminating trade negotiations with Canada
Citing false Reagan advertisement

CAD flows: CAD firmer as CPI comes in on the strong side of consensus

October 21, 2025 12:49 PM UTC

Canadian CPI firmer, October rate cut less certain

USD, JPY flows: Steady to mild risk positive tone

October 20, 2025 6:45 AM UTC

Mildly more risk positive picture, but uncertainty remains. Likely Takaichi PM appointment offset by some BoJ hawkishness

USD, JPY, CHF flows: USD lower versus safe havens on risk negative trade

October 17, 2025 7:01 AM UTC

US banking concerns trigger USD declines, especially against safe havens. JPY has scope for further gains.

GBP, USD flows: Little impact from UK GDP, USD steady

October 16, 2025 6:56 AM UTC

GBP marginally softer after August GDP comes in as expected. USD stable

USD flows: Little impact from NFIB, but...

October 14, 2025 12:49 PM UTC

NFIB survey weaker, but price index higher

CAD flows: CAD firmer as employment rises more than expected

October 10, 2025 12:41 PM UTC

USD/CAD drops below 1.40 as employment rises much more than expected in Septmber, but trend remains weak

USD, GBP flows: USD edging lower on shutdown concerns, GBP firmer

September 29, 2025 6:31 AM UTC

USD softer as government shutdown looms. GBP edging up

USD, CHF, CAD flows: USD edging lower, CHF vulnerable, CAD to benefit

September 26, 2025 1:10 PM UTC

New Trump tariffs may impact EUR and CHF. CAD firmer after GDP

CAD flows: CAD slightly softer after expected 25bp rate cut

September 17, 2025 2:00 PM UTC

USD/CAD edging higher after BoC cut rates 25bps as expected. Few clues on future policy thus far, but USD/CAD risks to the upside

USD, CAD flows: USD slightly firmer, CAD little changed after data

September 16, 2025 12:54 PM UTC

US retail sales on the strong side, halting the USD's slide. Canadian CPI in line on the core

USD, CAD, JPY flows: US employment weak, Canadian weaker

September 5, 2025 12:52 PM UTC

USD lower after weaker employment data, Canadian data much weaker still 

USD, CAD flows: USD steady but CAD under pressure

August 29, 2025 1:06 PM UTC

US trade data USD negative, but little impact thus far. CAD suffers from weaker GDP

CAD flows: USD/CAD higher after CPI, but upside scope modest

August 19, 2025 12:49 PM UTC

Canadian July CPI only very margnally softer than expected so USD/CAD gains shouldn't go far

USD/CAD flows: No TACO

August 1, 2025 1:49 AM UTC

Trump hit Canada with 35% tariff, 39% for Switzerland

USD/CAD flows: Trump hit Canada with 35% tariff

July 11, 2025 2:08 AM UTC

Trump hit Canada with 35% tariff, excluding USMCA goods

USD/CAD flows: Canada rescinds Digital Services Tax

June 30, 2025 4:42 AM UTC

Canada rescinds Digital Services Tax to advance broader trade negotiations with the US

USD, CAD flows: USD gains on employment report, CAD stronger still

June 6, 2025 12:49 PM UTC

USD gains on employment data look unreliable given downward revisions. CAD to sustain marginal rise. 

USD, JPY, AUD flows: USD firmer overnight, JPY dips on Ueda, AUD soft

June 3, 2025 6:39 AM UTC

USD firmer in Asia with commodity currencies weaker. JPY dips on Ueda but net impact modest. Rangy trading to persist

USD, CAD flows: USD softer, CAD firmer after data

May 30, 2025 12:52 PM UTC

USD softer in early US trade but little affected by US data. CAD firmer on stronger GDP

CAD flows: CAD firmer on stronger CPI

May 20, 2025 12:42 PM UTC

USD/CAD lower as core CPI measures scome in well above consensus

USD, JPY, EUR, AUD, CAD flows: Risk positive tone persists on hopes of US/China trade deal

May 12, 2025 6:59 AM UTC

Reports of progress in US/China trade talks trigger more risk positive moves in equities and FX.