Any progress is good progress. CAD and MXN climb on NAFTA statement

NAFTA ministers say talks will extend past year-end deadline Highlights of the combined statement from NAFTA ministers: – Have substantially completed discussions on competition chapter, made progress in several other groups The delay isn’t great, but it’s not crippling by any means. Overall, there is more good news here than I expected. That’s reflected in…

US dollar loses its luster

USD gives back the New York session gains It’s been a 30-40 pip roundtrip for the US dollar today. It climbed early with USD/JPY ticking to 112.46 from 112.15 but in the last few hours it’s sank back down and is back to where it was before North America arrived. Copyright 2015 Forexlive.com

Canada keeps hammering the housing market with new rules

New rules finalized Rules, not rates, are how the housing market is controlled in the future. In the past 6 months, it’s been one new rule after another for Canadians. Today regulators financed a rule that would make borrowers qualify at 2 percentage points above the contract rate, even if they put 20% down. Copyright…