A conservative government tends to have a lower tax, less spending and small government. Financial markets generally approve of these things. So a majority conservative government is beneficial to the Canadian dollar. |
A lot of this is contingent on the Bank of Canada statement. |
Although the dollar rallied earlier, we still have some support levels that weren't broken. |
Any weakening of the Canadian dollar represents a chance to buy more of the currency. |
As a result of this, people are calling for one or two more Fed moves. The dollar is going to be a little bid on this one. |
I don't think this is a bearish report because average hourly earnings are ticking up significantly, |
I don't think this is a bearish report because average hourly earnings are ticking up significantly, ... That is obviously a direct driver of inflation. |
I don't think this is a bearish report because average hourly earnings are ticking up significantly. That is obviously a direct driver of inflation. |
I'm still looking for places to sell the dollar. We're assuming that the Fed is nearing the end of its tightening cycle. That's a reason to sell dollars. |
It's got everybody on their heels. |
It's got everybody on their heels. Most people are short the U.S. dollar. |
It's hard to like the euro, |
It's hard to like the euro. |
Obviously, a little more tepid than what markets were expecting. |
People are falling out of love with the dollar. The U.S. data was on the disappointing side. That doesn't help. |