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Changes in capacity utilization for various industriesPrior 81.7%Canadian industries operated at 81.9% of their production capacity in the first quarter of 2023, a minor increase from 81.8% in the fourth quarter of 2022.The capacity utilization rate in the...

Prior was 41.4KUnemployment rate 5.2% vs 5.1% expected (5.0% prior)Participation rate 65.5% vs 65.6% priorFull time -32.7K vs -6.2K priorPart time +15.5K vs +47.6K priorAverage hourly wages for permanent employees +5.1% y/y vs +5.2% priorTotal hours worked -0.4% m/m,...

Headlines:Markets:NZD leads, JPY lags on the dayEuropean equities lower; S&P 500 futures flatUS 10-year yields up 3.7 bps to 3.751%Gold down 0.1% to $1,965.53WTI crude up 0.3% to $71.50Bitcoin down 0.2% to $26,590It's just one of those days where markets decided...

Here's a look at the changes in the Fed funds futures curve over the last one week and compared to a month ago:After the US jobs report on Friday last week, traders moved in to further price a higher for longer narrative by the Fed and that hasn't changed by much even...

Major currencies are almost no different from the earlier snapshot here. EUR/USD is down slightly by 0.2% to 1.0760 but keeping within a 25 pips range only for the day. Meanwhile, USD/JPY is up 0.5% to 139.60 but again the pair is rather confined in between large...

"It's true that some people want to decouple with China, but China will not decouple with the outside world and we're unwilling to do so. Our attitude is to proactively connect with others."The thought here is to keep maintaining that narrative, so as to ensure...

He also adds that those who do not respect this pledge will be at risk of financial sanctions. That is likely to allude to the fact that these are probably the bigger manufacturers but the question then comes down to how the prices will trickle down to consumers at...

Here's the snapshot as we look to get into European trading:As you can see, dollar pairs are mostly holding within 0.1% change to one another with the exception being USD/JPY. The pair is up 0.3% to 139.35 as it continues the push and pull alongside the bond market....

The dollar certainly kept things interesting on the week, after nudging lower following the weekly jobless claims data. It seemed like markets were content to keep the sideways action going but the slight action yesterday does set up some interesting technical...

It seemed like markets were content to wait on the US CPI data and Fed decision next week, so it definitely caught me by surprise that there was quite a modest reaction to the weekly initial jobless claims data here:The reading was the highest since October 2021 and...

There's no additional details on what this might be about but take note just in case. I will update this post later if there is any further information or even if there isn't.Update: It seems that it will be an announcement where Kishida will unveil the final version...

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...

The Wall Street Journal with the report on Chinese shopping-mall operator Wanda Properties and the slashing of their junk bonds:In January, Wanda Properties sold a $400 million bond, then another a month later, raising hopes of a junk-bond revival. Now, Wanda has been...

USD/JPY rose during the session from under 139.00 to around 139.25 as I post. Bank of Japan Governor Ueda spoke before parliament sticking to his support for easy monetary policy. There is more on what Ueda said in the bullet points above, but the summary is the man...