Why Dollar Traders Should Care About US Bank Earnings
Several major US banks will report earnings on Friday. Along with Delta Airlines and UnitedHealth, this is the unofficial start of earnings season. Corporate earnings are integral to the economy, so naturally earnings season has an effect on forex. But given what’s been going on in terms of central bank policy in the world, bank […]
CIBC now sees the Bank of Canada hiking 25 basis points this month
Today’s jobs report showed the Canadian economy adding 104K jobs in December, far more than the 5K consensus. That follows a strong November CPI report and has the OIS market pricing in a 72% chance of another 25 bps hike at the January 25 meeting. CIBC shifted its call to a 25 bps hike after […]
European Central Bank Exec Wants Unbacked Crypto Treated as Gambling
Fabio Panetta, a Member of the Executive Board of the European Central Bank (ECB) has argued in favor of regulation that recognizes “the speculative nature of unbacked cryptos and treat them as gambling activities.” Panetta believes that “vulnerable” users of unbacked digital assets can be protected through the application of rules similar to the European […]