USD/CAD - Mfg. Data Due Out

Canada releases the RBC Manufacturing PMI for September at 9:30 am which previously showed expectation at 54.6. Later in the morning, at 10:30 a.m. ET, the Bank of Canada Business Outlook Survey is released giving investors an analytical view of the economy in the near term. Canadian Full Employment figures are released on Friday along with U.S. Non-Farm Payrolls.

It is the start of a new month and the last quarter before the end of the year. WTI Crude Oil still traded above $50 U.S. per barrel at $50.86. Gold is still trending lower from last months high of $1,357 U.S. per ounce after geopolitical tensions escalated between the United States and North Korea. The risk haven asset traded at $1,273 this morning. At 9:45 a.m., Manufacturing Purchasing Managers Index for September is released followed by the Institute for Supply Management Construction Spending and Manufacturing at 10 a.m. The biggest event risk will come from the Manufacturing ISM numbers with expectations of 57.5 vs previous of 58.8. Federal Reserve Bank of Dallas President Robert Kaplan will be speaking on the districts economic growth outlook for rates and the price of oil.

Commentators expect a range today of $1.2439 to $1.2551

Manufacturing PMI released in Europe this morning, and it was mainly mixed. France was the only country that printed better than expected while Germany posted in line with expectations and Italy and the euro-zone fell short of expectations. The Unemployment Rate in August for the euro-zone also didn’t meet expectations and printed at 9.1%. The most significant influencers at the moment are Chancellor Angela Merkel’s poor results in German’s Federal Election and speculations of imminent tapering from the European Central Bank. The euro is currently trading at $1.4684.

Experts expect a range today of $1.4650 to $1.4739

U.K. PMI Manufacturing in September fell just shy of expectations at 58.1. Political risk is on the agenda for Wednesday when Prime Minister Theresa May will speak. The market has priced in an 83% chance of a rate hike in November. The pound sterling is currently trading at $1.6598.

Those in the know expect a range today of $1.6547 to $1.6649

The Australian dollar continues to trade soft to start the week. The primary focus will be on the Reserve Bank of Australia rate announcement at 11:30 p.m. EDT. The central bank is expected to hold policies unchanged and keep target rate at 1.50%.

Oil (WTI): $50.32 U.S. per barrel

Gold: $1,275.55 U.S. per ounce

Silver: $16.67 U.S. per ounce

Copper: $2.9470 U.S. per tonne

Dollar Index: 93.52

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