CAD

Canada November building permits +14.1% m/m

• Canadian building permits beat expectations

USD/CAD extends drop after break of key technical level on Friday

• The pair closed below its 100-day moving average for the first time since August last year

CIBC now sees the Bank of Canada hiking 25 basis points this month

• Strong jobs data triggers the switch

USDCAD falls below the 100 day MA

• A close below today would be the first since August 12.

Canada December employment change 104.0K vs 8.0K estimate

• The December 2022 Canada jobs report

USDCAD bounces off the 100 day MA today...and again

• The levels importance remains/strengthens

Signs of weakness from the Canadian consumer in the November trade report

• CIBC highlights pressure on the consumer

Canadian Nov trade balance -0.04B vs +0.618B expected

• Surprise Canadian trade deficit

USDCAD stays between extremes on the top and bottom

• Lower support at 1.3519. Resistance starting at 1.3682

Canada December S&P Global manufacturing PMI 49.2 vs 46.9 prior

• Canadian manufacturing survey from S&P Global

Asia FX (and other) markets swings continue - yen, CAD, AUD, gold all over the shop

Video: Four ways to trade 2023 in the forex market

• I spoke with BNNBloomberg about trades and opportunities for 2023

USDCAD runs higher as oil fall/stocks fall/US yields move higher

• Trades between 100/200 hour MAs

USD/CAD falls to the lows of the week as oil prices continue rebound

• USD/CAD down 80 pips on the day

Canada October Federal budget deficit C$1.90B vs -C$3.68B in Oct 2021

• Canadian government fiscal numbers