Dollar Plunges as Fed Says Disinflation Now in Play
The dollar tumbled on Thursday after the U.S. Federal Reserve said it had turned a corner in the fight against inflation, giving markets a confidence boost that the end of its rate-hike campaign is near. Source link
USD/CAD bounces off multi-week lows near 1.3300
USD/CAD picks up some pace and retests 1.3330. US headline, Core PCE drifted lower in December. US Consumer Sentiment comes next in the docket. USD/CAD now gathers some upside traction and revisits the 1.3330 region on Friday, leaving behind at the same time earlier lows in the vicinity of 1.3300, an area last traded back in late November […]
Bank of Canada is to set back Loonie. Forecast as of 25.01.2023
2023.01.25 2023.01.25 Bank of Canada is to set back Loonie. Forecast as of 25.01.2023 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The Bank of Canada is about to end its monetary tightening cycle, which sets back the USDCAD even amid the rise in the oil market. Should one sell the loonie versus major currencies? Let’s discuss the market outlook and make […]
An explicit signal of a pause will weaken CAD – MUFG
Later today, we have the Bank of Canada policy meeting. Economists at MUFG Bank do not expect a big reaction on the CAD unless the BoC explicitly signals a pause. Approaching terminal rate? “While we believe there is a good chance today’s 25 bps hike could be the last, we are less sure that the […]
A bumpy ride for retailers that is going sideways – CIBC
Data released on Friday showed retail sales in Canada dropped 0.1% in November, an improvement from the preliminary estimate of a 0.5% slide. Analysts at CIBC point out that some of the detail wasn’t as encouraging, and the underlying trend still shows retail sales moving broadly sideways in volume terms. They expected the Bank of […]
Bank of Canada appoints Nicolas Vincent as deputy governor
Nicolas Vincent The Bank of Canada appointed a Montreal professor as its latest Depute Governor. He will have a seat on Canada’s governing council. He will fill a two-year term in the newly-created external, non-executive Deputy Governor position. In creating the new position, the BOC said it wanted to “ensure a diversity of perspectives, thought […]
BofA Sees Gold Over $2,000 Oz in Coming Months
ank of America Securities expects gold prices to head over $2,000 oz in the coming months on the back of developments in US interest rates and foreign exchange markets, it said today. Source link
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 […]
Shaw Communications, Li Auto, Southwest and others
Check out the companies making headlines before the bell:Shaw Communications (SJR) – Canada’s Competition Tribunal dismissed an attempt by the country’s competition watchdog to block the $26 billion acquisition of the telecom company by rival Rogers Communications (RCI). Shaw surged 10.1% in the premarket, while Rogers gained 0.4%.Li Auto (LI) – Li Auto said it […]
Oil falls but poised for biggest weekly gain since early Oct on China hopes
Oil fell on Friday as the market assessed the aftermath of interest rates hikes at central banks, but was poised for the biggest weekly gains in 10 weeks amid supply disruption concerns and hopes for a recovery of demand in China. Brent crude futures fell $1.80, or 2.2%, […]