The greenback saw a slightly better session for the week yesterday, showing strength modestly. In other news, the USD may see moderate changes stemming from data scheduled for release tomorrow. Specifically, the manufacturing Purchasing Managers Index (PMI), and existing home sales information. Overall, sentiment for the USD is neutral for the short-term.
Canadian Dollar Comment:
The loonie saw another disappointing session for the week, down 0.4% from the previous day’s close, and under performing almost all the G10 currencies. Looking tomorrow, further volatility may be seen with the release of the Canadian Consumer Price Index (CPI), a clear gauge of inflation. The current outlook for the loonie is neutral-bearish.
Euro Comment:
The Euro had a quiet trading day yesterday, sitting near 1.07 for the session. Looking ahead, European Purchasing Managers Index (PMI) data will be revealed tomorrow, an indicator of overall economic performance. The overall sentiment for the Euro seems to be neutral for the time beings.
Yen Comment:
The Yen traded weakly yesterday, down 0.4% and doing worse than the majority of G10 currencies. In other news, the Japanese tertiary industry index data will be released tomorrow, a helpful evaluation of domestic activity. The tone for the JPY seems neutral-bearish for the short-term.
Pound Comment:
The Pound had another decent session yesterday, sitting around 1.28, perhaps still seeing a slight benefit from Prime Minister May’s surprise early election call. However, there is still the issue of Brexit still posing significant risk in the long-term. In other news, tomorrow GBP retail sales data is scheduled for release, a clear indication of economic changes. The current sentiment is neutral-bullish.
All conversions are based on the interbank rates provided and regularly updated by MTFX without any allowance for spreads or handling charges which will apply.
The results should therefore only be used as a guide. The table is automatically refreshed every five minutes.
For a live quote or to find out more about how MTFX can help you, call our trading floor:
Canadian Toll Free Number: 1 800 832 5104 U.S. Toll Free Number: 1.855.663.6839
Disclaimers:
Forecasts, Analysis & Commentaries
Content in MTFX Group’s website is for informational purposes only. Contributors submitted forecast, commentaries, analysis, articles
are based upon information gathered from various sources believed to be reliable, complete, and accurate. However, no guarantee can be
made as to the validity of the believed sources. All statements and expressions in the website are opinions, and not meant as investment advice
or solicitation. Currency Markets can be volatile and opinions may change without notice.
Oil undergoes a massive sell-off amid global glut concerns
April 20, 2017LEAVE A COMMENT
The greenback saw a slightly better session for the week yesterday, showing strength modestly. In other news, the USD may see moderate changes stemming from data scheduled for release tomorrow. Specifically, the manufacturing Purchasing Managers Index (PMI), and existing home sales information. Overall, sentiment for the USD is neutral for the short-term.
Canadian Dollar Comment:
The loonie saw another disappointing session for the week, down 0.4% from the previous day’s close, and under performing almost all the G10 currencies. Looking tomorrow, further volatility may be seen with the release of the Canadian Consumer Price Index (CPI), a clear gauge of inflation. The current outlook for the loonie is neutral-bearish.
Euro Comment:
The Euro had a quiet trading day yesterday, sitting near 1.07 for the session. Looking ahead, European Purchasing Managers Index (PMI) data will be revealed tomorrow, an indicator of overall economic performance. The overall sentiment for the Euro seems to be neutral for the time beings.
Yen Comment:
The Yen traded weakly yesterday, down 0.4% and doing worse than the majority of G10 currencies. In other news, the Japanese tertiary industry index data will be released tomorrow, a helpful evaluation of domestic activity. The tone for the JPY seems neutral-bearish for the short-term.
Pound Comment:
The Pound had another decent session yesterday, sitting around 1.28, perhaps still seeing a slight benefit from Prime Minister May’s surprise early election call. However, there is still the issue of Brexit still posing significant risk in the long-term. In other news, tomorrow GBP retail sales data is scheduled for release, a clear indication of economic changes. The current sentiment is neutral-bullish.
Sources:
www.investing.com
www.scotiafx.com
www.dailyfx.com
www.theglobeandmail.com/globe-investor/markets/