CAD Consolidates Just Below Highs

Posted by Joshua Schlebach on 8/6/20 9:22 AM

The CAD has consolidated about half a cent below yesterday’s highs with the USD benefiting from positive fundamental releases. No releases to report on this morning will leave investor focus on tomorrow’s employment data.

The USD has steadied and retraced just under half of this week’s losses vs. the Loonie. News today was limited but positive with the Unemployment Change coming in at 1.186M compared to the expected 1.410M. Tomorrow’s employment numbers headline the AM news stateside.

The Euro’s gains have stalled and virtually unchanged on the day trading in a relatively tight range. Factory Orders out of Germany surpassed the expectations my a large margin and gave the EUR a slight bump this morning.

Equities

Equities are mostly down this morning: the Dow up 0.04%, the S&P down 0.17%, NASDAQ down 0.01% and the TSX down 0.01%.  Crude Oil is up 0.14% this morning ($42.25) while Gold is also up 0.87% ($2,055.94).

Dow

0.04%

S&P

0.17%

NASDAQ

0.01%

 

 

 

TSX

0.01%

Crude Oil

0.14% ($42.25)

Gold

0.87% ($2,055.94)

Topics: Market Update