The second quarter ended with a rout on oil and a break in the Canadian dollar. The New Zealand dollar was the top performer while the euro lagged. The fourth quarter begins in the Asia-Pacific region with the Japanese Tankan, Aussie retail sales and China's manufacturing PMI – all with China on holiday. Our latest Premium trades
include 2 USDCAD issued ahead of today's Canada data and the existing AUDUSD.
USD/CAD broke 1.12 for the first time since March. Four factors contributed to the move:
1. Canadian July GDP flat compared to +0.3% expected