The early Statistics Canada estimate for 1.2% annualized growth in Q4 is well above the Bank of Canada's MPR forecast for a flat reading. It came as November GDP rose 0.2% compared to the 0.1% advanced reading and December accelerated to +0.3% m/m.CIBC highlights that...
White House: US not looking for war with Iran
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ECB’s Lane: We need more confidence that inflation is headed to 2%
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FOMC preview: Say goodbye to “additional policy firming” then wait for Powell
Saddle up and get ready to the FOMC decision at 2 pm ET. As a reminder, there won't be an updated dot plot released with this decision but Federal Reserve Chairman Jerome Powell will hold his usual press conference at 2:30 pm ET.As a reminder, here is the most-recent...
The EURUSD moved up and back down as the traders setup for the Fed decision. What now?
The EURUSD raced higher in the US morning session but after breaking through the 200 day MA and moving up toward the 100 bar MA on the 4-hour chart, momentum faded and the price rolled over.THe price has since moved back down toward the 200 day AM at 1.0840. That MA...
Crude oil tests its 200 hour MA at $75.78
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European equity close: Mixed bag as the month ends
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Nasdaq index moves down to test the 100 hour MA. Key short term target/bias level.
The Nasdaq index is the biggest decliner of the three major stock indices with a fall of 1.4%. That decline has taken the price of the index down toward its rising 100-hour moving average currently at 15226.50. A move below that level would increase the bearish bias...
FTX expects to pay customers in full in bankruptcy liquidation
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AUDUSD bounces after failed break lower,but is now finding willing sellers near swing area
The AUDUSD moved lower earlier in the day and in the process fell below a key support target defined by the 200 day moving average at 0.6574, and the 50% midpoint of the move up from the October low. That level comes in at 0.65699. The inability to stay below those...
UK police holding $2.6 billion in bitcoin in money laundering trial
The FT reports from a trial in London where Jian Wen, 42, is accused of laundering bitcoin on behalf of her former employer, who is a fugitive from Beijing authorities.The report says that in 2018, UK police seized four separate devices containing more than 61,000...
January OPEC output fell by 410k bpd – survey
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US weekly EIA crude oil inventories +1234K vs -2150K expected
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USDCHF breaks below a key floor and that opens the downside for the sellers
The USDCHF fell below a KEY FLOOR LEVEL that I have been monitoring from a technical perspective at 0.86058. That break opened the door for further downside momentum the price has since fallen below its 200 bar moving average on the 4-hour chart at 0.8583 (see chart...
USDJPY extends lower and showing signs of breaking
The USDJPY is making a run to the downside and in the process is breaking to a new low for the day and new low for the week. The price is falling below it 100 bar moving average on a 4-hour chart at 146.96, and is also below a swing area between 146.96 – 147.067....
Big moves as the market sniffs out a dovish Fed. Bank worries hitting
The bond market is really going for it.US 2-year yields are down 17 basis points to 4.20% and 10s are down 11 bps to 3.94%. The market is back to pricing in 147 bps of rate cuts this year from 130 bps earlier this week.That's spilled over into a sharp drop in USD/JPY...
Broader indices move lower at the US stock open
With AMD, Microsoft and Alphabet announcing yesterday after the close and the market not digesting those earnings well (or pieces of them), the broader indices are lower with the NASDAQ index down by -0.85% leading the downside..A snapshot of the market currently...
The USD is lower after weaker employment cost data. Kickstart video looks at 3 major pairs
The USD is moving lower after the lower-than-expected employment cost index data for the fourth quarter (a favored economic number of the Federal Reserve). The FOMC doesn't meet today and announced its rate decision at 2 PM ET. No change is expected but the market...
US dollar sags after wage data, jobs and Treasury borrowing data
The US dollar is under pressure after a trio of somewhat dovish announcements today:ADP employment was below estimates at 107K compared to 145K expectedThe Treasury increased long-dated auction sizes in-line with estimates but not as much as fearedQ4 US wage data...
Canada November GDP +0.2% vs +0.1% expected
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