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Culprit for commodity-bloc weakness - BMO Capital Markets

FXStreet (Guatemala) - Stephen Gallo, European Head of Currency Strategy at BMO Capital noted the extent to which commodity bloc currencies have been affected by a particular culprit.

Key Quotes:

"Apart from general weakness in commodity prices, the approaching end of Fed QE and smaller increments of USD liquidity may also be a culprit for commodity bloc currency weakness this week. Both factors could easily be feeding off one another as well."

"This dynamic would at least help explain USD/CAD’s buoyant price action this week which was occurring independently of its main drivers and before the release of yesterday’s weak retail sales print.

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