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Day: September 8, 2021

BOC Stood Pat but Delivered Cautiously Optimistic Message

The loonie recovered modestly after the BOC meeting. As widely expected, policymakers left the overnight rate unchanged at 0.25% and QE purchases at CAD 2B/ week. Yet, they remained cautiously optimistic over the medium term economic outlook, despite disappointing GDP data in 2Q21 and July. We expect the central bank to continue to taper the …

BOC Stood Pat but Delivered Cautiously Optimistic MessageRead More

Job openings soar to 10.9 million as companies struggle to fill positions

Job openings outnumbered the unemployed by more than 2 million in July as companies struggled to fill a record number of vacancies, the Labor Department reported Wednesday. The department’s Job Openings and Labor Turnover Survey, which the Federal Reserve watches closely for signs of slack in employment, showed 10.9 million positions open. That was much …

Job openings soar to 10.9 million as companies struggle to fill positionsRead More

USD/CAD: Loonie a loser as Bank of Canada cites supply chain risks

The BOC’s monetary policy statement confirmed the risks to the global economy, especially for export-dependent, growth-sensitive currencies like the Canadian dollar… Back in July, the Bank of Canada (BOC) tapered its weekly asset purchases from CAD $2B to $3B in a small step toward “normalizing” monetary policy…and since then, just about everything has gone poorly …

USD/CAD: Loonie a loser as Bank of Canada cites supply chain risksRead More

BoC Doesn’t Overreact to Soft GDP Data

Policy rate, QE pace, forward guidance all unchanged Statement discounts last week’s disappointing GDP data Recovery still expected to strengthen but risks remain The Bank of Canada left its key policies unchanged today and didn’t sound as dovish as it could have following last week’s disappointing GDP data. As is standard practice at meetings without …

BoC Doesn’t Overreact to Soft GDP DataRead More

Euro and Swiss Franc Soften in Mixed Markets, Canadian Also Weak

Euro and Swiss Franc weaken mildly in mixed markets today. New Zealand Dollar firms up together with Yen and Dollar. Meanwhile, Canadian Dollar is also soft, awaiting BoC policy decision. Major European indices are trading in red, but losses are limited. US futures also point to slightly lower open. Gold is trying to reclaim 1800 …

Euro and Swiss Franc Soften in Mixed Markets, Canadian Also WeakRead More

Gold Bearish Rejection From The Top

Gold is currently moving down. I had a perfect sell from the top which is running in profits. As the price is breaking below the MAs and 78.6 fibonacci we could see a support. If you see the daily chart, you might notice a potential head and shoulders emerging pattern. Watch for a rejection at …