Commodity currencies continue to come under pressure

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The USD faltered slightly today, but not against other American currencies as it surged yet again against the CAD to extend for the 4th day in a row. US data today was a mixed bag with US building permits slightly down to 1.3M (1.5M exp), while US housing starts lifted to 1.35M (1.31M exp) which is a good sign in the lead up to summer. However, the major focus thus far has been on the trade threats Trump is making against China after they looked to impose tariffs as well on the US markets in retaliation. The main loser in such a scenario is likely to be the US consumer in the long run as… Read More

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