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June 2, 2017

U.S. unemployment rate falls to 4.3% clearing path for Fed to raise interest rates

The June unemployment report provides a clear path for the Fed to raise interest rates at the June 14th FOMC meeting. Recent rhetoric by FOMC members also suggests that most members believe that the economy is strong enough to withstand another rate increase.


May 24, 2017

Bank of Canada Holds Interest Rate Steady, Changes Tone in Monetary Policy Statement

As expected, the Bank of Canada held interest rates steady and gave no indication whether it is poised to ease or hike interest rates in its statement following the Monetary Policy Committee meeting today.


April 12, 2017

Bank of Canada Leaves Rate Unchanged

As predicted, the Bank of Canada (BoC) kept interest rates unchanged, maintaining its status at 0.50%. BoC’s statement accompanying the rate announcement continued to highlight “material slack” in the labor market, and its stark comparison with the US, where it is close to full employment.


April 11, 2017

CPI Inflation Inches Lower, Retail Sales Post Highest Gain in Seven Years.

Canadian economic data has been upbeat for a few months now, and Retail Sales data for January continued this trend, growing 2.2% from December.


March 15, 2017

Fed Hikes Rate by 25bps, Dovish Statement Weakens the US Dollar

As widely expected, the US Federal Reserve hiked the Fed Funds rate by 25 bps to move the target rate to 0.75-1.00%.

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FX Currency Forecasts

  2018
Currency Spot Q1a Q2 Q3 Q4
USD/CAD 1.3384 1.29 1.31 1.32 1.31
EUR/USD 1.1310 1.23 1.25 1.27 1.28
USD/JPY 113.4360 106 105 103 102
GBP/USD 1.2588 1.40 1.37 1.38 1.43
USD/MXN 20.2384 18.15 20.10 19.50 19.00
USD/CNY 6.9076 6.30 6.20 6.15 6.15
AUD/USD .7182 0.77 0.80 0.82 0.83
USD/INR 71.9204 65.20 64.30 64.00 63.80
EUR/CAD 1.5136 1.59 1.63 1.68 1.68
GBP/CAD 1.6847 1.81 1.79 1.82 1.87
CAD/JPY 84.7581 82 81 78 78

  2019
Currency Spot Q1 Q2 Q3 Q4
USD/CAD 1.3384 1.29 1.31 1.32 1.31
EUR/USD 1.1310 1.23 1.25 1.27 1.28
USD/JPY 113.4360 106 105 103 102
GBP/USD 1.2588 1.40 1.37 1.38 1.43
USD/MXN 20.2384 18.15 20.10 19.50 19.00
USD/CNY 6.9076 6.30 6.20 6.15 6.15
AUD/USD .7182 0.77 0.80 0.82 0.83
USD/INR 71.9204 65.20 64.30 64.00 63.80
EUR/CAD 1.5136 1.59 1.63 1.68 1.68
GBP/CAD 1.6847 1.81 1.79 1.82 1.87
CAD/JPY 84.7581 82 81 78 78
  2018 2019
Currency Spot Q1a Q2 Q3 Q4 Q1 Q2 Q3 Q4
USD/CAD 1.3384 1.29 1.31 1.32 1.31 1.28 1.29 1.31 1.30
EUR/USD 1.1310 1.23 1.25 1.27 1.28 1.29 1.29 1.30 1.32
USD/JPY 113.4360 106 105 103 102 102 102 101 100
GBP/USD 1.2588 1.40 1.37 1.38 1.43 1.45 1.47 1.48 1.52
USD/MXN 20.2384 18.15 20.10 19.50 19.00 18.80 18.80 18.50 19.00
USD/CNY 6.9076 6.30 6.20 6.15 6.15 6.10 6.10 6.00 6.00
AUD/USD .7182 0.77 0.80 0.82 0.83 0.85 0.86 0.86 0.85
USD/INR 71.9204 65.20 64.30 64.00 63.80 63.50 63.30 63.30 62.00
EUR/CAD 1.5136 1.59 1.63 1.68 1.68 1.65 1.66 1.70 1.72
GBP/CAD 1.6847 1.81 1.79 1.82 1.87 1.86 1.89 1.94 1.97
CAD/JPY 84.7581 82 81 78 78 80 78 77 77

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