Share: The Bank of Canada (BoC) announced on Wednesday that it left the benchmark interest rate unchanged at 5% following the October policy meeting. This decision came in line with the market expectation. BoC Governor Tiff Macklem will explain the policy decisions and comment on the policy outlook in a press conference starting
Share: Australian Dollar moves upward toward a major level after stronger Aussie CPI data. Australia’s CPI climbed to 1.2% in Q3, exceeding the market consensus of 1.1%. US Dollar received upward support from upbeat PMI figures from the United States. The Australian Dollar (AUD) continues to gain ground, trading higher for the third
Share: Australian Dollar extends gains as the US Dollar declines. Australia’s Manufacturing PMI eased to 48.0, while the Services PMI dropped to 47.6. China may approve over 1 trillion yuan in additional sovereign debt issuance. US Treasury Department confirmed the meeting with China to discuss bilateral economic policy matters. The pullback in US Treasury
Share: Canadian Dollar catching some lift as the broad-market US Dollar Index recedes. The Bank of Canada lands with its next rate call on Wednesday. Market sentiment is improving on Monday, sending the Greenback lower. The Canadian Dollar (CAD) is finding some lift to kick off the new trading week, bolstered by investors
Share: The Euro clings to daily gains vs. the US Dollar. Stocks in Europe extend the multi-day decline on Monday. EUR/USD keeps hovering around the 1.0600 zone. The USD Index (DXY) comes under pressure and disputes 106.00. Eurozone flash Consumer Confidence is due in the domestic docket. The Chicago Fed National Activity Index ticks higher in September.
Share: The Canadian Dollar ended the trading week flat against the US Dollar. A Retail Sales beat sees little positive momentum for the Loonie as markets remain USD-focused. Steady Crude Oil prices aren’t hurting the CAD, but aren’t helping it either. The Canadian Dollar (CAD) is seeing some minor lift on Friday, but
Share: Pound Sterling dropped after data showed that UK Retail Sales declined by almost 1% in September. The decrease in Retail Sales suggests a weakening household’ spending, which is the main driver of the UK economy. The Bank of England is widely expected to leave interest rates unchanged. The Pound Sterling (GBP) retreated after the
Share: Gold price extends upside as Israel prepares to attack Hamas group. Fed Chair Powell supported neutral interest rates amid higher US bond yields. 10-year US Treasury yields jump above 4.9% amid unsustainable Congress budget deficits. Gold price (XAU/USD) rose sharply as Middle East tensions kept escalating and the Federal Reserve (Fed) Chair
Share: The Greenback lost substantially on Thursday after Powell did not bring anything new to the table. A very light data calendar on Friday offers room for traders to digest past week events. The US Dollar Index strengthened somewhat on Friday amid escalating tensions in the Middle East. The US Dollar (USD) lost
Share: The US Dollar struggles to find demand at the end of the week. Markets are digesting Powell’s words on Thursday. US Treasury yields are retreating and the odds of a hike in December declined. The US Dollar (USD) measured by the US Dollar Index (DXY) oscillates between gains and losses in the
