The market seems to be taking a relatively long-term view of commodity prices, and the weakness we've seen in both oil and natural gas is very much a short-term phenomenon.
More Quotes from Adam Cole:
It's notable that CAD has participated less in the gains against the U. S. dollar than most currencies have seen.Adam Cole
The yen has gained on the vote of confidence in the Japanese economy, and that rates may start to rise sooner than expected.
Adam Cole
The yen did gain on the inflation numbers initially. It then took out some key levels and we saw a massive bout of short-covering in dollaryen.
Adam Cole
At the moment it seems like a pretty ring-fenced issue and it doesn't look like it's going to spill over into the market at large, but any risk aversion resulting from problems with trading would be dollar negative.
Adam Cole
The market is increasingly seeing a risk that the Fed pauses in its rate cycle -- not only that but also the peak in the interest cycle will be considerably lower.
Adam Cole
With the election out of the way, the attention is now on the Bank of Canada. We're still at the early stages of a hiking cycle, which is moderately supportive of the Canadian dollar.
Adam Cole
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