USD, JPY, CHF flows: Safe havens firm on Middle East tension

October 2, 2024 6:48 AM UTC

Safe havens remainign strong as Middle East tension rises. Oil price move thus far is modest, but fears of escalation remain. JPY the best value of the safe havens.

USD, CAD flows: USD slightly firmer after retail sales

September 17, 2024 1:17 PM UTC

US retial sales marginally on the firm side, underlying trend solid. Canadian CPI marginally weak. USD edges higher but focus on the Fed. 

CAD flows: CAD marginally softer after CPI

August 20, 2024 1:02 PM UTC

Canadian CPI much as expected. CAD slightly weaker

USD flows: Softer after weaker PPI

August 13, 2024 12:47 PM UTC

USD generally softer after weaker than expected PPI

CAD flows: Two way risks after better trade data

August 6, 2024 1:23 PM UTC

CAD little changed after trade data. Risks remain two way

CAD flows: CAD weaker after softer retail sales

July 19, 2024 12:41 PM UTC

May retail sales weaker than expected and June projected weak

CAD flows: CAD softer after weaker CPI

July 16, 2024 1:01 PM UTC

USD/CAD back above 1.37, but upside limited

CAD flows: CAD lower on BoC cut

June 5, 2024 2:03 PM UTC

BoC cut the deposit rate 25bps as widely expected, but still upside scope for USD/CAD

USD flows: USD softer after data

May 31, 2024 12:56 PM UTC

US core PCE weaker than expected.

CAD flows: CAD falls on weaker CPI

May 21, 2024 12:41 PM UTC

BoC core CPI measures weaken incrasing the chance of a June 5 rate cut

CAD flows: CAD firmer after stronger employment data

May 10, 2024 1:12 PM UTC

Strogner employment data pushes CAD yields up and USD/CAD lower. But still a good chance of a June rate cut so risks may be to the CAD downside

USD, EUR, JPY, AUD, CAD flows: PMIs awaited, AUD and CAD rallies look fragile

April 23, 2024 6:44 AM UTC

PMIs awaited with mild downside bias for European currencies. AUD and CAD gains looks suspect given yield spread picture

CAD flows: CAD softer after weaker CPI

April 16, 2024 12:57 PM UTC

All CPI measures below expectations, widening spreads with the US and suggesting USD/CAD scope above 1.38

CAD flows: Scope for CAD to weaken further after BoC

April 10, 2024 2:26 PM UTC

BoC suggest June rate cut still very likely. Upside risks for USD/CAD

USD, EUR, JPY flows: Market static ahead of US CPI

April 9, 2024 6:47 AM UTC

Little change in the main FX pairs. European bank lending survey and NFIB survey may be of interest today

EUR, JPY, CHF flows: Better risk tone, EUR has scope for recovery

April 8, 2024 6:52 AM UTC

Risk appetite reocverign, EUR may get support from better German production

USD, CAD flows: Employment data USD positive, CAD negative

April 5, 2024 12:52 PM UTC

USD up on a stornger than expected employment report, CAD down as Canadian data disappoints

USD, CAD flows: CAD up as GDP outperforms expectations

March 28, 2024 12:39 PM UTC

USD/CAD drops 20 pips as January GDP comes in at 0.6% - above the 0.4% consensus.

CAD flows: USD/CAD higher as Canadian CPI comes in softer than expected

March 19, 2024 12:44 PM UTC

All the core measures monitored by the BoC saw a 0.2% drop in the y/y rate. Front end CAD yields have dropped sharply, suggesting scope for further USD/CAD gains. 

USD flows: USD softer after employment data

March 8, 2024 1:55 PM UTC

US labour market data seen as slightly weaker, with strong February employmet offset buy downward revisions to previous months, weaker earnings data and higher unemplyoment. USD/JPY continues to look the most vulnerable. 

CAD flows: CAD firmer after BoC

March 6, 2024 3:15 PM UTC

BoC indicating no rate cut on the agenda supports CAD

USD/CAD flows: Gap Filled

March 4, 2024 5:04 AM UTC

OPEC+ extends output cuts by three months

CAD flows: CAD weakens on soft CPI

February 20, 2024 1:53 PM UTC

Canadian January CPI weak across the board, suggesting USD/CAD has scope to 1.3550

CAD flows: CAD makes modest gains on employment report

February 9, 2024 2:03 PM UTC

USD/CAD edged lower after better headline data, but downside limited

CAD flows: CAD dips as BoC loses tightening bias

January 24, 2024 3:00 PM UTC

Less hawkish BoC justifies some CAD losses with CAD already a little stretched based on current yield spreads

CAD flows: CAD gains after stronger core CPI numbers

January 16, 2024 1:41 PM UTC

USD/CAD edges lower after core CPI measures come in above consensus in December

USD, EUR,JPY, CAD, NOK flows: USD firm, CAD vulnerable, EUR money data in focus

January 2, 2024 7:40 AM UTC

The USD is starting the year slightly firm, but is still essentially following the playbook from last year and moving in line with yield spreads against the EUR and JPY. EUR/USD continues to be most closely correlated with 2 year spreads, while USD/JPY is moving more consistently with 10 year spread

USD/JPY, EUR/USD flows: Divergence Today

December 29, 2023 2:16 PM UTC

Traders indicate that this is flow related and not a wider view of divergence that will last into the first week of 2024.  
As well as data, the FX market is focused on clues over policy, with some wanting to see if the Dec FOMC minutes on Jan 3 provide hints on timing.  However, in reality money m

EUR/USD, GBP/USD, USD/CAD flows: NY USD Decline

December 27, 2023 4:55 PM UTC

The USD has lost ground in North American trading against most currencies.  The move was flow and sentiment driven rather than new news, with EUR and GBP/NOK and SEK gaining a similar percentage and AUD and JPY somewhat less.  However, traders indicate that the difference is not major and the key

USD/CAD, EUR/CAD flows: CAD gains modest after stronger CPI

December 19, 2023 2:21 PM UTC

Canadian CPI was on the strong side of expectations, with only the common CPI measure coming in slightly on the weak side. Headline, core, median and trimmed measures were all on the strong side. The CAD is higher in response, although only modestly. Canadian front end yields are little changed on t