EUR/USD, USD/CAD, EUR/GBP flows: Risk still retreating, CAD not celebrating yet; data leaves BoE views unchanged

August 19, 2026 6:59 AM UTC

Risk still correcting while bonds level off, and oil still drifting out 
CAD not yet celebrating potential deal, as talks extended 
Sterling unmoved by CPI, BoE odds still at that gradual move to one hike view

USD/CAD flows: CPI data set aside on run in to the key trade event risk

August 17, 2026 1:24 PM UTC

CPI data firmer, supporting message from recent real economy data
CAD however circumspect on the run in to the trade deadline, talks seen going to wire

Is CAD poised for a short-squeeze?

August 10, 2026 5:03 PM UTC

There's a decent argument that, event-risk given, CAD may be poised for a short-squeeze
Positioning is extreme and against the grain of recent $ moves
 Data has been surprising to the upside supporting a shift in momentum
Lead indicator trends support a recent move back toward recovery and outperforma

EUR/USD Flows - US CPI in focus after Fed Waller; Iran exchanges continue

July 14, 2026 6:44 AM UTC

Brent up at $85 now as oil market reluctantly responds to blockade, strikes in last few sessions
US CPI key, focus sharpened by Fed Waller's remarks

USD/CAD flows: Bit o/b but CAD still on back foot

June 22, 2026 12:56 PM UTC

CPI data broadly on market
CAD remains on the backfoot, USD/CAD seen higher, though overbought

USD/CAD flows: BoC looking through inflation, watching risks

June 10, 2026 1:58 PM UTC

Unchanged with outlook presented in conditional terms
Core stance though is to look through inflation while being more on guard against downside risks especially from US trade deal renewal
Latter remains the main near-term risk for the CAD

EUR/USD, CAD, GBP flows: tense few days ahead; Breentry and Albertout getting media attention

May 26, 2026 6:09 AM UTC

Deal could take some days, skirmishes o/n keep things tense
Less immediately, some background media focus on Breentry and Albertout

USD/CAD flows: Inflation expectations, Fed Waller

May 22, 2026 2:52 PM UTC

Fed's Waller highlights inflation expectations as UoM figures revised notably higher
Keeping US fixed income on the backfoot and dollar supported

USD/CAD flows: Weak Canada core CPI keeps trend up in 2026 range

May 19, 2026 1:14 PM UTC

Weak Canada CPI data (ignoring headline base effects), keeps BoC on the sidelines
Helps USD/CAD continue its daily trend up action in the 2026 range

USD, JPY, EUR flows: USD slightly firm as US and Iran skirmish

May 8, 2026 6:16 AM UTC

Skirmishing between the uS and Iran overnight has had only a modest USD positive and risk negative impact so far, but...

USD flows: Little change on US data

May 7, 2026 1:05 PM UTC

US data slightly on the strong side, but little market impact

EUR/USD, USD/CAD flows: US shutdown and tariff risks

January 26, 2026 4:06 PM UTC

The USD remains under pressure with EUR/USD breaking above 1.19 despite a healthy durable goods orders report and a significantly less negative Dallas Fed manufacturing survey, with US politics, in particular the growing risk of a government shutdown, weighing.

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