CAD remains quiet with a fourth consecutive session of consolidation around key technical support levels just above last Friday’s short-lived jobs-driven low.
"Domestic risk is limited ahead of Thursday and CAD is underperforming all of the G10 currencies the context of renewed USD weakness."
"BoC Gov. Schembri’s speech topic is ‘Canada’s approach to price stability’ and he is scheduled to speak on Thursday in Winnipeg at 12:45pm (1:45pm ET)."
"Domestic rate expectations have softened modestly in the wake of last Friday’s jobs data and yield spreads remain elevated with the 2Y U.S.-Canada hovering just below 30bpts."
"Measures of sentiment are showing signs of a turn however, and may offer CAD near-term support as risk reversals fade their recent surge (pricing a greater premium for protection against CAD weakness across a range of time horizons)."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.