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CAD Continues to Struggle on Sentiment

Posted by Joshua Schlebach on 6/25/20 10:05 AM

The CAD fell through the day yesterday and has consolidated most of its losses trading near the lowest point of the week. Again no fundamentals out of Canada today is leaving the Loonie trading on an overall risk-off mood which has put downward pressure on it. No scheduled news remains for the remainder of the week.

The USD is mixed but up broadly over most of the G10 currencies and benefiting from negative sentiment. Fundamental news was mixed today With Core Durable Goods Orders and Durable Goods Orders beating their respective forecasts by 1.9% and 5.5%. While Final GDP was in line at -5.0% and Unemployment Claims at 1.480M vs. 1.320M.

The Euro is down on the day thus far but losses have been quite muted. German consumer confidence showed a nice improvement even in these trying times but has had little impact on the EUR’s trading level.

Equities

Equities are mostly down this morning: the Dow down 0.25%, the S&P down 0.05%, NASDAQ down 0.12% and the TSX up 0.27%.  Crude Oil is up 0.16% this morning ($38.07) while Gold is also up 0.02% ($1,761.46).

Dow

0.25%

S&P

0.05%

NASDAQ

0.12%

 

 

 

TSX

0.27%

Crude Oil

0.16% (38.07)

Gold

0.02% ($1,761.46)

Topics: Market Update