Bank of Canada to Stand Pat, Keep One Eye on the Loonie as Recovery Gathers Steam
The Bank of Canada meets this week to set policy and will announce its decision on Wednesday at 15:00 GMT. No change is expected in either interest rates or the pace of asset purchases. But following the better-than-anticipated GDP performance...
Oil Rally Continues, Gold Gains Ground
Oil resumes rise After tanking more than 3% in the previous session, oil is clawing its way higher as fears over supply disruption in Saudi Arabia ease and the US dollar rally pauses for breath. Oil markets fell overnight as...
Oil Rally Continues, Gold Gains Ground
Oil resumes rise After tanking more than 3% in the previous session, oil is clawing its way higher as fears over supply disruption in Saudi Arabia ease and the US dollar rally pauses for breath. Oil markets fell overnight as...
Dollar Pares Gains as Yields Retreat, Stocks Rebound
Dollar retreat broadly today as 10-year yield pares gain after failing to sustain above 1.6 handle again. NASDAQ is also set for a rebound while DOW might try to extend the record run. At the time of writing, Yen, Euro...
XAU/USD Outlook: Limited Correction To Precede Bearish Continuation
Spot gold rose from new nine-month low ($1676) on Tuesday, as dollar bulls are pausing and technical studies on daily chart are oversold, providing temporary support to the metal. Overall picture remains negative for gold, as global growth recovery and...
USD/JPY Outlook: Overbought Daily Studies Warn Of Correction Before Bulls Continue
Bulls are taking a breather on Tuesday, following strong bullish acceleration in past eight days which peaked at 109.23 today (the highest since June 8), but faced headwinds from 200WMA (109.00) and Fibo 38.2% of 2015/2016 125.84/98.99 fall (109.25). Bulls...
The US Dollar Pushes Higher Again
US dollar gains on US yields, inflation fears The dollar index pushed higher again overnight, rising 0.37% to 92.31. Rising US yields, structurally short positioning and a myopic fixation on growth-driven inflation continue to lift the greenback, notably versus G-7...
Sterling Strengthening While Yen Selloff Continues
Dollar retreats mildly in Asian session today as overall market sentiments improved some what. Major Asian indices, except China, recovered notably, following DOW’s rally. But weakness in US tech is keeping upside capped. Selloff in Yen and Swiss Franc, and...
‘Significant long-term scarring’ in services will limit pent-up consumer demand and suppress inflation, economist Stephen Roach predicts
Economist Stephen Roach said Monday he believes Wall Street is overestimating a consumer comeback. According to the Yale University senior fellow, demand will snap back like a rubber band later this year as the V-shaped recovery loses momentum. “With vaccines rushing...