Good Afternoon
Canadian housing
numbers were one of today’s few releases and have come in at 200,200 which was
above the estimated value. This did not change the value of the USD.CAD but
still should be viewed as good data for the Canadian Economy. The US Dollar
weakened against the Yen, driving the US Dollar weaker against most currencies.
Without much driving the currency market at the moment it looks like USD.CAD will remain steady for the rest of the day.
Up tonight we get the Bank of
Japan Interest rate policy announcement, the Yen and Nikkei have been very
volatile as of late so any further stumbles from the BOJ could create more
havoc in the currency markets. We are also expecting the UK Industrial
Production for April which is stronger than expected could give the Pound
a boost.
Yonah
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