USD / CAD – Canadian dollar looking for direction

– Positive risk sentiment cannot gain traction

– WTI oil firms after US inventory data

– US dollar opens with losses compared to Wed close: GBP underperforms

USDCAD snapshot open 1.3616-20, overnight range 1.3573-1.3618, close 1.3613, WTI $79.70, Gold $1814.51

The Canadian dollar did not get any traction after the November inflation report was released yesterday. Consumer prices fell by a miniscule 0.1% in November, trimming the headline rate to 6.8% from 6.9%. the result was disappointing to those expecting a larger decline.

The Bank of Canada hinted that they would pause future rate hikes at the December 7 monetary policy meeting. They may rethink that view if the January 15 CPI report remains at current levels.

USDCAD has traded in a 1.3500-1.3700 range for most of December and it is likely to stay within that band for the rest of the year.

USDCAD gains are being slowed by rising … Read more

TSX Pops to End Wednesday

Stocks in Toronto shook off days of negative trending and rumbled higher Wednesday, as energy and real-estate concerns flexed their muscles.

The TSX Composite popped 264.21 points, or 1.4%, to conclude Wednesday at 19,571.16.

The Canadian dollar subsided 0.02 cents at 73.50 cents U.S.

In energy stocks, Advantage Oil & Gas rumbled 61 cents, or 6.6%, or $9.87, while Paramount Resources leaped $!.66, or 6.4%, to $27.53.

In real-estate, FirstService hiked $6.59, or 4.1%, to $169.18, while Altus Group climbed $1.99, or 3.9%, to $52.71.

Among health-care winners, Tilray took on 11 cents, or 2.9%, to $3.96, while Chartwell Retirement Residences acquired 16 cents, or 2%, to $8.02.

On the economic calendar, Statistics Canada’s consumer price index rose 6.8% on a year-over-year basis in November, following a 6.9% increase in October.

ON BAYSTREET

The TSX Venture Exchange pointed upward 8.31 points, or 1.5%, to 570.76.

All 12 subgroups were winners … Read more