Forward Guidance: Bank of Canada Will Officially Shift to a Neutral Bias Next Week
Next week is all about the Bank of Canada. While no one expects a change in interest rates, hopes are Wednesday’s policy statement and Monetary Policy Report will provide clues into just how long the central bank might remain on...
Canadian Retail Sales Pick Up in February
The information contained in this report has been prepared for the information of our customers by TD Bank Financial Group. The information has been drawn from sources believed to be reliable, but the accuracy or completeness of the information is...
European Update – Stocks Bounce after PMI Setback
Markets recover from initial post-PMI weakness European equity markets have recovered from earlier weakness, following another disappointing batch of PMIs from the euro area, with stocks being supported by a weaker euro. It’s going from bad to worse for the...
US: Retail Sales Surge in March
The information contained in this report has been prepared for the information of our customers by TD Bank Financial Group. The information has been drawn from sources believed to be reliable, but the accuracy or completeness of the information is...
Strong Retail Sales and Jobless Claims Boost Dollar, But Yen Outperforms
Dollar jumps broadly in early US session after very strong retail sales and jobless claims. Yen is the only one stronger than the greenback, thanks to pull back in global treasury yields. Euro, as well as benchmark German yield tumble...
Herman Cain: ‘My voice is needed’ to counter Fed and its ‘professor standard’
Prospective Federal Reserve nominee Herman Cain promised to pursue a stable dollar if confirmed to a central bank board that he thinks is too dominated by academics. In an op-ed for The Wall Street Journal, the former presidential candidate, Kansas...
US weekly jobless claims lowest since 1969; unemployment rolls shrink
The number of Americans filing applications for unemployment benefits fell to more than a 49-1/2-year low last week, pointing to sustained strength in the economy. Initial claims for state unemployment benefits dropped 5,000 to a seasonally adjusted 192,000 for the...
US retail sales soared 1.6% in March
U.S. retail sales surged in March at the fastest pace since late 2017, as spending on autos, gasoline, furniture, and clothing jumped. The Commerce Department said that sales increased a seasonally adjusted 1.6% from February, the strongest increase since September...
Oil Volatility is about to Kick into High Gear
2019 has delivered for the most part a one-way move higher for oil prices as OPEC + production cuts have successfully stabilized prices. WTI crude has rallied over 40% this year and prices could be ripe for a massive pullback...
British Pound Edges Lower Despite Strong UK Retail Sales
GBP/USD has posted slight losses in the Thursday session. In North American trade, GBP/USD is trading at 1.3015, down 0.20% on the day. On the release, British retail sales jumped 1.1% in March, crushing the estimate of -0.3%. Over in...
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