EUR/CAD

The Canadian Dollar remains a focal point in tariff talks, and USD/CAD has a bull pennant formation while CAD/JPY has shown recovery potential and EUR/CAD a pullback following a strong breakout.

FX pairs like the EUR/CAD may ease back further following yesterday’ decision by Trump to delay the tariffs on Canada. That decision means the near-term Canadian dollar forecast is no longer bearish, making the EUR/CAD an ideal pair to look for bearish setups on for CAD bulls. Meanwhile, USD/CAD is beginning to look rather interesting.

EUR/CAD falls after OPEC+ cuts oil output . FTSE rises boosted by oil majors .

The Canadian GDP was much worse than expected, however the GDP Price Deflator was also weak.

The publication of stronger European data again suggests that the eurozone and UK economies remain surprisingly resilient despite high levels of inflation.

The BOJ aggressively purchased bonds at the long end of the curve and sent the 30-year yield markedly lower, although the move did not spill over the yen pairs.

The BOJ aggressively purchased bonds at the long end of the curve and sent the 30-year yield markedly lower, although the move did not spill over the yen pairs.

CPI for August out of Canada was lower than expected. As a result, EUR/CAD is trading higher on the day.

Sometimes the obvious needs to be said. And that is exactly what the BOC’s deputy governor said in his op-ed by stating inflation “remains far too high”.

Whilst inflation has been hard to ignore, we are now seeing signs that the cooling of inflationary forces are finally showing up in some consumer prices.

The Singapore dollar made the baulk of currency moves overnight as the MAS tightened policy. We don’t expect the same level of excitement from the ECB.