Archived IMT (2009.03.31)
Canadian dollar fights off selling largely due to rallying equities, but the 0.7% decline in January GDP is keeping any upside capped. Though the 0.7% decline was within expectations, the third consecutive monthly growth contraction underlines CAD's lag behind US underperformance. The sharper than expected decline in US home price declines goes largely unnoticed by equities, which is helping sustain AUD, EUR and GBP vs USD. We still expect USDCAD to regain 1.26, while AUDNZD is seen recovering 1.23 in the event of positive Aussie retail sales later tonight (0.30 GMT).
Election Anxiety, Virus Reality
by Adam Button | Sep 25, 2020 19:15
USD Deleveraging & Tech Applications
by Adam Button | Sep 23, 2020 18:16
The Moment of Truth?
by Adam Button | Sep 21, 2020 23:15
FX Shrugs, Indices Shaken
by Adam Button | Sep 18, 2020 18:53
Fed's 2023 Special, BoE Thinks Negative
by Adam Button | Sep 17, 2020 14:04