The Loonie struggled today after a period of consolidation as a rampant US Dollar and rising US Yields saw USDCAD make a run for recent highs. The start of the next leg higher?
The Precious Metal does seem to be partly supported but is likely to remain subdued as the US Dollar is expected to remain supported in Q4. Can Gold continue its slide toward the YTD low around the $1800 mark?
The Bank of England (BoE) is facing growing challenges heading toward the September meeting, as uncertainty around the Fed swirls as well. Will todays US data provide some clarity for the pair?
US PMI continued the trend today and missed estimates showing signs that the rate hike cycle is being felt. Canadian retail sales provided mixed signals with USDCAD eyeing Jackson Hole for its next move. Retracement incoming or consolidation ahead?
The Bank of Canada may have to rethink their path regarding rate hikes following a hotter than expected inflation print. USD/CAD Upside Rally Stalls at the 1.3500 handle.