Loonie Holds Gains — For Now

By The National Bank of CanadaMarket OverviewMar 15, 2016 10:02AM ET

www.investing.com/analysis/loonie-holds-gains-%E2%80%94-for-now-200121665

Loonie Holds Gains — For Now

By The National Bank of Canada | Mar 15, 2016 10:02AM ET

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USD/CAD

+0.02%

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-0.12%

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+0.29%

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US2YT=X

-0.45%

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CA2YT...

+0.53%

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Crude oil dropped 3.4% Monday further to comments from OPEC confirming that Iran had upped its production in February. Tehran appears to want to boost output before agreeing with other OPEC producers on a potential production freeze. We believe that after hitting a three-month high last week, crude-oil prices are due for a downturn.

In other news, the spread between U.S. and Canadian two-year bond yields has been widening since the end of February. Normally such an increase would favour the greenback, which has not been the case for the past few weeks. With declining oil prices and the two-year yield spread, it now appears likely that a correction in the USD/CAD pair to around 1.355 is in the cards. Stay tuned!

At 8:30 this morning, U.S. Retail Sales will be announced and could show a dip of 0.1% due to weak fuel prices.

Markets will no doubt stay calm until the Fed’s key rate announcement tomorrow afternoon.

Have a great day!

Mark Donohue

Range of the day: 1.3310 – 1.3450

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Central Banks

Interest Rates

Next Meeting

FED

4.50%

Mar 19, 2025

ECB

2.65%

Mar 06, 2025

BOE

4.50%

Mar 20, 2025

SNB

0.50%

Mar 20, 2025

RBA

4.10%

Apr 01, 2025

BOC

3.00%

Mar 12, 2025

RBNZ

3.75%

Apr 09, 2025

BOJ

0.50%

Mar 19, 2025

CBR

21.00%

Mar 21, 2025

RBI

6.25%

Mar 10, 2025

PBOC

3.10%

BCB

13.25%

Mar 19, 2025

US 30	42,674.0	+95.2	+0.22%
US 500	5,760.6	+22.1	+0.39%
Dow Jones	42,579.08	-427.51	-0.99%
S&P 500	5,738.52	-104.11	-1.78%
Nasdaq	18,069.26	-483.48	-2.61%
S&P 500 VIX	24.87	+2.94	+13.41%
Dollar Index	104.050	-0.130	-0.12%

Crude Oil WTI	66.55	+0.19	+0.29%
Brent Oil	69.72	+0.30	+0.43%
Natural Gas	4.265	-0.013	-0.30%
Gold	2,915.30	-11.30	-0.39%
Silver	33.240	-0.098	-0.29%
Copper	4.7895	+0.0147	+0.31%
US Soybeans	1,028.38	+0.13	+0.01%

U.S. 10Y	4.257	-0.025	-0.58%
U.S. 30Y	4.560	-0.019	-0.41%
U.S. 5Y	4.033	-0.025	-0.62%
U.S. 3M	4.329	+0.018	+0.42%
US 10Y T-Note	110.98	+0.20	+0.18%
Euro Bund	127.80	-0.05	-0.04%
10-2 Yield Spread	27.17	+1.56	+6.09%

Apple	235.33	-0.41	-0.17%
NVIDIA	110.57	-6.73	-5.74%
Alphabet A	172.35	-0.67	-0.39%
Tesla	263.45	-15.65	-5.61%
Amazon.com	200.70	-7.66	-3.68%
Netflix	906.36	-84.56	-8.53%
Meta Platforms	627.93	-28.54	-4.35%

Loonie Holds Gains — For Now

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