US Dollar Grasps for Support at Eight Month Lows
US Dollar Talking Point: Recommended by James Stanley Get Your Free USD Forecast It’s been a week now and the US Dollar is still grasping for support at the 101.77 level that had come into play last Monday. That price was tested through on Wednesday and then again yesterday but, as of yet, there’ve been […]
Mexican peso hits its highest level in a month, looking at 19.00
US Dollar remains weak against Emerging Markets currencies. USD/MXN testing 2022 lows near 19.10, closer to 19.00. Bearish pressure to alleviate above 19.50 The USD/MXN is falling again on Tuesday as it continues to move with a bearish bias, approaching the 19.00 psychological area. Earlier today it bottomed at 19.08, the lowest level in a […]
Goldman Sachs forecasts USD/JPY to 126 (12 month horizon), from 130 previously
Goldman Sachs on USD/JPY and the Bank of Japan. Analysts have lowered their USD/JPY forecasts significantly: “We have maintained our core view that USD/JPY should trade most closely with US rates this year, particularly given our forecast that the BoJ will be more patient in making further policy changes than the market expects,” GS notes. […]
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 […]
Can the Nonfarm Payrolls Beat Forecasts for a Ninth Consecutive Month?
Nonfarm Payrolls (NFP) have surpassed forecasts in the previous eight months. The NFP rarely meets expectations and frequently defies reality. Job growth above pre-pandemic levels cannot last forever. Higher interest rates and inflation have had an impact on the housing market, and possibly the labour sector as well. Nonfarm Payrolls (NFP) have exceeded expectations for […]