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,...
A look at the changes in the key Bank of Canada forecasts
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,...
China gold concentrate imports sink 22% as tax proposal cools market
Gold is down $10 today after hitting a record high yesterday. Reuters is out with a report highlighting a drop in China gold and copper imports due to a potential tax change, citing four sources:Gold ore/concentrate imports to China fell 22.4% m/m in September to...
US September existing home sales 3.84M vs 3.86M expected
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,...
USDCAD little changed after interest-rate decision
The Bank of Canada cut right by 50 basis points which was as expected. The central bank wants to keep inflation near 2%. The focus is to maintain low, stable inflation while increasing growth. The central bank lowered the CPI forecast for 2024 and 2025. Core inflation...
The full statement from the Bank of Canada interest rate decision
The Bank of Canada today reduced its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. The Bank is continuing its policy of balance sheet normalization.The Bank continues to expect the global economy to expand at a rate of...
Macklem statement: We anticipate cutting our policy rate further
The press conference will begin at 10:30 am ET but the opening statement was pre-released:We took a bigger step today because inflation is now back to the 2% target and we want to keep it close to the target.Price pressures are no longer broad-basedWe need to stick...
Tech sector glimmers while consumer goods face headwinds
Stock heatmap by FinViz.com Wed, 23 Oct 2024 13:46:03 GMTSector OverviewToday's stock market heatmap reveals a mixed bag of performances across various sectors. The technology sector stands out with leaders like Microsoft (MSFT) gaining 0.43%, reflecting investor...
Bank of Canada rate decision: 50 basis point cut, as expected
Prior overnight rate was 4.25%The market was pricing in a 94% chance of a 50 bps cutThe OIS market was priced at 2.60% for end-2025 ahead of the decisionHighlights of the statement:If the economy evolves broadly in line with our latest forecast, we expect to reduce...
US stocks trading lower. McDonalds and Starbucks under pressure
The major US stock indices are trading lower. The Dow and the S&P are on pace for their third consecutive losing day. Remember all three indices are working on six weeks of gains. That string is at risk with more than half of the trading week remaining.A snapshot...
Bank of Canada rate decision ahead. What technical levels are in play for the USDCAD?
The Bank of Canada rate decision will take place at 9:45 AM ET. The expectations are for a 50 basis point cut.Adam summarized the decision here. Key takeaways:Bank of Canada is expected to cut rates by 50 bps on Wednesday, marking the first significant cut in the...
US equities set for a soft start. Texas Instruments highlights struggling industrial econ
SPX dailyS&P 500 futures are down 0.4% ahead of the open in what's become a familiar pattern. Over the past week, stock futures have been weak only to see buying throughout the day and decent closes.The index hit a record high on Thursday but has seen some mild...
Kickstart the FX trading day for Oct 23 w/a technical look at the EURUSD, USDJPY & GBPUSD
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,...
No comments from the Fed’s Bowman in initial remarks
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,...
Canadian National Railway highlights soft macro backdrop
I've been listening to corporate conference calls closely for hints about macroeconomic weakness. Railways have great insight into the goods macroeconomy, which has been struggling since the covid boom. Some comments in the conference call yesterday highlight caution...
Bank of Canada decision highlights the economic calendar as USD soars
USD/JPY has soared 200 pips today in its fourth day of gains as the FX market recalibrates to a stronger US dollar and US economy. The move brings the pair back into line with Treasury yields, which have also erased the decline that started in late July.USDJPY...
The USD continues its run to the upside led by the USDJPY. US stocks lower. Yields higher
The forex markets has the USD moving higher as the NA sesssion begins. The moves are being led by the USDJPY (and JPY crosses) with a gain of 1.24% after it broke back above its 200-day MA for the first time since July 31. After moving down from 161.94 to 139.57 from...
ECB’s Holzmann: I see a soft landing for Europe as guaranteed
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,...
ECB’s Centeno: Downside risks to growth are accumulating
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,...
ECB’s Knot: I’m pretty confident inflation will hit 2% in 2025
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,...