FX Trader, Loonieviews.net
Summary: Avengers: Endgame had a strong opening weekend, and the US dollar is having a strong April close. The greenback soared during the month, led by a 2.36% rally against the Swiss franc.
Change in US dollar vs G-10 major currencies March 29-April 30, (14:00 GMT):
USDCAD sellers were evident in early New York trading with the currency pair undermined by broad US dollar selling. Buyers emerged after Canadian economic data was weaker than expected. GDP shrank 0.1% in February. (forecast 0.0%.) The Raw Materials Price index was also soft, and USDCAD rallied on the news. However, the GDP data miss should be discounted due to lousy weather during the month.
Wall Street traders were not very impressed with Alphabet’s (GOOG: Nasdaq) results and today’s US economic reports didn’t help. The three major indices are trading lower compared to yesterday’s close but are still likely to finish the month with solid gains.