USD/CAD Canadian Dollar Lower After US Retail Sales Puts Multiple Fed Rate Cuts in Question

Jul 16 21:07 2019 Print This Article

The Canadian dollar was trading lower against the greenback on Tuesday after a surprise jump in retail sales data could give some breathing room to the Fed. The US central bank has been telegraphing an interest rate cut at the end of the month but improving fundamental indicators could make the overall move a tactical one, and not a deep as the market once believed.

Oil prices tumbled as Middle East tensions eased as the US and Iran appear to be ready to negotiate, although uncertainty remains on how willing both parties are to a compromise. Weather disruptions took a back seat as platforms affected by a tropical storm are on their way to getting back online offering no support for crude. US inventories on Wednesday will be a crucial data point for energy traders with the API printing another drawdown, but a lower one last week.

Read More

About Article Author

Market Pulse

Established in 2006, MarketPulse is a free news site that provides full-time coverage of the world's largest financial markets, focusing on forex, commodities, and global indices research and analysis. Armed with a global team of securities analysts and strategists, Market Pulse provides timely, accurate, and informative research on major macroeconomic trends, technical analysis, and worldwide events that impact different asset classes and investors.

Related Items

US Open – Brexit Deal Rally seems short-lived, Earnings, Oil, Gold, Bitcoin

It was not expected to happen today, but a Brexit deal got hammered out.  PM Boris Johnson got the job done and now he needs to survive the Parliamentary arithmetic.  Johnson needs 320 votes to get his deal through the House of Commons.  Johnson will have just under 259 votes in the bag as Cons ...

US Open – China GDP falls to 6%, Turkey’s win, Brexit Vote looms, Oil rises, Gold stuck in range

US stocks and the dollar little changed in early Friday trade despite a worse than expected third-quarter GDP reading from China and heightened uncertainty regarding how Brexit will unfold over the weekend and a temporary cease-fire between Turkey and Syria.  Asian markets sold off after China’ ...

Thursday Conversation - Dave Kranzler

With TF 18 Comments | 13 Likes Our old pal Denver Dave stopped by today for this entertaining and informative discussion. If you're interested in the precious metals and mining shares, you should be sure to give a thorough listen to this free, public podcast. Yes, this podcast clocks in at 37 ...

Tech Talk for Friday July 26th 2019

  S&P 500 quarterly reports to date After 185 reports released to date, earnings on a year-over-year basis have dropped 3.49%, a loss that is significantly greater than expected. Following is a link to a Market Watch article giving more information https://www.marketwatch.com/story/sp-500-earnings ...

Macro Briefing | 18 October 2019

Turkey agrees to temporarily halt military operations in Syria: WSJUK Parliament expected to reject Johnson’s new Brexit deal on Saturday: CNBCChina’s Q3 annual economic growth slows to 6.0%–lowest in decades: CNBCA variety of financial risks from climate change are lurking: SF FedHousing sta ...

CWS Market Review – October 18, 2019

“There is nothing more deceptive than an obvious fact.” – Sherlock Holmes This week, our two Buy List bank stocks rallied after reporting better-than-expected earnings. Signature Bank gained 1.9%, and Eagle Bank rose 1.4%. At one point, Eagle was up more than 11% on the day. I’m especially ...

Scheer’s promise to cut foreign aid is wrong and misguided - Loonie Politics

  Andrew Scheer ought to be ashamed. In a recent campaign announcement, Scheer pledged that if elected, a Conservative government under his leadership would slash foreign aid spending by 25 percent. This was no slip of the tongue. Scheer reinforced his position in a subsequent tweet, in which h ...