Counting on USD: USD/CAD Extends Rally

06.03.2025

Today's expected range for the Canadian Dollar against the major currencies:

US Dollar 1.4250-1.4480

Euro 1.5400-1.5630

Sterling 1.8400-1.8630

WTI Oil (opening level) $66.84

The CAD/USD is opening at 1.4372 ( 0.6958 )

The USD/CAD pair moved higher to near 1.4360 in Thursday’s European session despite the USD extends its downside in EURO and GBP, suggesting significant weakness in the Canadian Dollar.

The USD index, which tracks the Greenback’s value against six major currencies, slides to a four-month low near 104.00.

Headlines

· An historic day for Europe on the EU and Germany’s plans for a vast fiscal expansion, particularly Germany coming Chancellor Merz move to fund both EUR 500 billion in infrastructure (near 12% of current German GDP) over the next 10 years as well as additional defence spending that would mostly be exempt from “debt brake” rules, with a move to alter the German constitution to allow these changes. German 10-year bunds rose 30 basis points, the largest one-day gain since pre-unification in 1990, taking global yields higher with the violence of the move.

· Germany called for the EU to change fiscal rules to allow countries to raise the level of spending on defence without violating EU rules on budget deficits. An EU Summit today will see further measures on defence discussed.

· The White House announced that Trump granted a one-month delay on new tariffs for U.S. automakers complying with USMCA regarding Mexico and Canada.

· US private businesses (ADP) added 77K workers, the smallest increase in seven months and below the 140K forecast. The service sector gained 36K jobs, with losses in trade/transportation/utilities (-33K) and education/health (-28K). The goods sector added 42K jobs, mainly in construction (26K) and manufacturing (18K), while natural resources/mining lost 2K jobs.

· US ISM Services PMI rose to 53.5 in February 2025 from 52.8 in January, exceeding the 52.6 forecast. This marks faster growth in the services sector, with business activity, new orders, employment, and supplier deliveries expanding for the third consecutive month. Inventories and backlog of orders rebounded, while price pressures increased.

Key Points

· Equities: Trump delays auto tariffs, stocks rally; DAX +3.5%, STOXX 50 +1.9%, Hang Seng +2.87%; China tech stocks gain on stimulus

· Volatility: VIX -6.72% to 21.93, short-term volatility eases; market futures stable; ECB rate decision & Broadcom earnings ahead

· Digital Assets: Bitcoin +6.2% to $92,532, Trump’s crypto reserve speculation fuels rally

· Currencies: Gap-like repricing of the euro higher on the historic surge in European yields

· Fixed Income: An historic day in Europe as German 10-year yield rises 30 basis points, most since 1990

· Commodities: Steady crude prices. Copper rally lifts silver.

· Macro events: EU Summit, ECB meeting and US jobless claims

Comment (2)

14.03.2025 - 10:29 PM Jason Gilreath:

A Sandwich Attack Was Used to Wipe Out My Crypto Transaction Of $389,000. I was swapping in between my stablecoins when I lost $389,000. I was confused and didn’t know how that could happen, I just lost all my crypto and I’m traumatized. A few days later, a tech guy from my firm contacted a crypto recovery expert Morphohack Cyber Service, who was able to detect that a malicious bot called MEV(Maximum Extractable Value) detected my transaction and front ran it before my transaction was processed. The bot's actions made me lose almost 99% of my funds and stole $389,000. Fortunately for me, Morphohack Cyber Service was able to trace this transaction and retrieve it successfully without any delay while applying its sophisticated software and malware techniques. It seems we have to be up to date with market news and stay alert always. Morphohack can be contacted via the following link: MORPHOHACK@CYBERSERVICES.COM (Whats App:+12136724092)

12.03.2025 - 4:28 AM Diane:

I truly believe in the effectiveness of spells, and I want to share how Psychic Priest Ray helped me during a very challenging time in my marriage. My husband and I were facing serious misunderstandings that nearly led to divorce. In my moments of despair, I found myself crying and searching for love quotes online when I stumbled upon glowing reviews of Priest Ray's work. Feeling hopeful, I contacted him and shared my situation. He confidently told me that my husband would return within 24 hours. I followed his advice, and to my absolute surprise, my husband came back the very next day, sincerely asking for my forgiveness and wanting to rebuild our relationship. If you're going through similar struggles in your marriage, I encourage you to reach out to him. He truly can make a difference! psychicspellshrine@gmail.com Website: psychicspellshrine.com WhatsApp: +27613732619