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    United States 2020-04-20 08:05:43
    Technical index Canadian Dollar Sinks as Crude Oil Prices and Stoc

    CANADIAN DOLLAR, CRUDE OIL, US DOLLAR, STOCKS, EARNINGS - TALKING POINTS:

    Canadian Dollar down as crude oil, stocks drop to start the week
    Anxiety ahead of key Q1 earnings reports maybe risk-off catalyst
    US Dollar buoyed by haven demand, anti-fiat gold prices lower
    The Canadian Dollar led the way lower among its G10 FX counterparts financial markets started the trading week in a defensive mood. Bellwether S&P 500 futures fell – pointing to a broadly risk-off disposition – as financial markets. Crude oil prices sank to the lowest level since 2001, which probably explains some of the Loonie’s outsized losses. The haven US Dollar traded broadly higher, pressuring anti-fiat gold prices.

    Investors’ dour disposition may reflect anxiety ahead of a busy week for corporate earnings report that look set to paint a bleak picture of the damage wrought by the coronavirus outbreak. Perhaps most worryingly for cyclical assets like stocks and commodity-linked currencies, early signs of stabilization in the Covid-19 infections tally may be shifting the markets’ focus to the outbreak’s long-term economic impact.

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