FX Update - USD/CAD
First Published Monday, 13 July 2009 from Need to Know News
USD/CAD showed very little reaction to the BoC announcement and statement, though the comments on the CAD could give Loonie bulls some pause. The Bank said the appreciating CAD "reflects a combination of higher commodity prices and generalized weakness in the US currency." If recent strength proves persistent, the Bank said that could "fully offset" the recent improvement in financial conditions, commodity prices and business and consumer confidence.
USD/CAD has traded between 1.10-11 since the announcement, though option expiries at either end of this band could contain the pairing until after 10:00 EDT.
- Citi's Tim Evans on API Petroleum Statistics
"The American Petroleum Institute reported a 0.4 mmbls build in US commercial crude stocks that was on the low end of the range of expectations, with sharply lower imports and somewhat higher crude runs than in the prior week....continued
- Preview: DOE Inventories (w/e March 12th)
Crude inventories are expected to rise 1.3mln following a 1.432mln increase prior Unleaded inventories are expected to drop 1.0mln following a 2.959mln draw prior Distillate inventories are expected to drop 1.5mln following a 2.217mln drop prior Refinery Utilization is expected to rise 0.2% to 80.9%...continued
- Preview: February PPI
...continued
- BOE's Bean...best way to balance competing needs is by "retaining clarity of present remit"
BOE's Bean...best way to balance competing needs is by "retaining clarity of present remit"...continued
- BOE's Bean....'no regulatory regime is perfect'...
...continued
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