Canadian Retail Sales Bounced Back Solidly in May
Highlights: Retail sales rose 2.0% both in nominal and volume terms to reverse a big 0.9% drop (-1.1% volumes) in April. Retail sale volumes are tracking a solid rebound in Q2 as a whole after a soft start to the...
Canadian Inflation Jumped to a Six-Year High in June, Core at 2% Again
Highlights: After May’s CPI fell short of expectations, inflation surprised to the upside in June with the headline rate jumping to 2.5% from 2.2%. The pickup in inflation relative to this time last year (when headline was at 1.0%) reflects...
Why UBS cloned an economist
Daniel Kalt appears in a private client meeting room at a branch of UBS, overlooking Lake Zurich. The Swiss bank’s regional chief economist and chief investment officer turns to look at me. I recognize his chiseled features, his slight smile...
Your first trade for Friday, July 20
The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Weight Watchers Brian Kelly was a buyer of SPDR Gold Shares Dan Nathan was a buyer of Target Guy Adami was a...
Canada: Consumer Prices Up 2.5% in June, Core Measures Average 2%
Consumer prices were up 2.5% year-on-year in Canada in June, up from 2.2% in May and above the consensus forecast for 2.3%. Adjusted for seasonal patterns, prices rose 0.1% month-on-month. Several items saw price growth accelerate year-on-year, led by energy...
May Thaw Brings Canadians Back to the Shops
Canadian retail sales climbed 2.0% in May, a solid recovery from April’s (revised) 0.9% drop, which Statistics Canada attributed to inclement weather in many parts of the country. The sales gain was all due to more goods being sold, as...
Dollar Could Weaken But Not Because of Trump
The US dollar was on course to end sharply higher yesterday until Donald Trump spoke. While the greenback has steadied and could still push higher, market participants are now in no doubt what the President thinks of the currency’s growing...
Democratic Sen. Heitkamp: Benefits of tax cuts to US workers have been ‘eaten up’ by Trump’s tariffs
Sen. Heidi Heitkamp told CNBC on Friday that the benefits of President Donald Trump’s tax cuts have been negated as a result of his aggressive steel and aluminum tariffs. “We’re the ninth most dependent on imported steel,” the North Dakota...
Dollar Sharply Lower as Trump’s Reliable Ally Challenges Him on Tariffs, Canadian Dollar Jumps on Strong Data
Dollar suffers steep selloff in the early US session as WSJ reports that Senate Finance Committee Chairman Orrin Hatch sent a letter to Trump requesting him to reconsider his trade policies. And Hatch warned that GOP senators may be ready...
Trump hits the Fed again in tweet: ‘Tightening now hurts all that we have done’
President Donald Trump criticized the Federal Reserve’s monetary policy again. Tweet Link “The United States should not be penalized because we are doing so well. Tightening now hurts all that we have done. The U.S. should be allowed to recapture...
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