USD/CAD quiet as US inflation recovers

USD/CAD continues to drift this week. On Tuesday, the pair is trading quietly at 1.3615. On the fundamental front, US inflation improved in June and beat the forecasts. There are no Canadian releases on the schedule. On Wednesday, the Bank of Canada announces its rate decision.   US consumer inflation jumps There was good news […]

OPEC+ Meeting looms large

All eyes will be on OPEC+ on Wednesday, as the oil producers are slated to make a decision on whether to extend the production cuts that are currently in place. OPEC+ (which is the OPEC members plus 10 other producers, the most important of which is Russia) implemented deep cuts in response to the global […]

USD/CAD Quiet on Lack of Data

The week has started with little fanfare. On the fundamental front, there are no Canadian events. In the US, the sole indicator is the Federal budget balance. On Tuesday, the US releases consumer inflation, the primary gauge of consumer inflation. Canada employment jumps, loonie shrugs  The week ended with key employment numbers. The economy created […]

EU members bicker over massive recovery fund

The Covid-19 pandemic has caused an economic meltdown across European economies, with the European Union forecasting a drop of 7.9% in GDP for the bloc. This has forced the European Commission (the executive branch of the EU) to take drastic action in order to deal with this unprecedented economic crisis. Back in May, the EU announced […]