Forward Guidance: Inflation Data to Take Centre Stage
Inflation reports will steal the spotlight next week, with annual Canadian price growth expected to climb to 4% in August compared to a year ago—the fastest pace since 2003. But much of that rise is from very low levels last...
Dollar Rebounded as DOW’s Selloff Posts a Warning to Risk Sentiment
Dollar ended as the strongest one last week, with some held from the late selloff in US stocks. Yen was the second strongest on risk aversion while Swiss Franc was not too far away. Commodity currencies, on the other hand,...
Week Ahead: Focus Shifts to Pricing Pressures
Country US The focus in the US shifts from the labor market to pricing pressures. Tuesday’s release of the August inflation report could move some Fed members into joining the ‘inflation is persistent’ camp. Prices that Americans pay for everyday...
Bank of America announces new CFO, technology and legal heads in sweeping management overhaul
Bank of America CEO Brian Moynihan announced the most sweeping management overhaul of his 12-year tenure atop the giant financial institution. In a memo distributed to employees on Friday, Moynihan named a new chief financial officer, technology head, general counsel...
Democrats may rein in big estates without reforming the estate tax
Drew Angerer | Getty Images News | Getty Images Democrats may scuttle tactics used by the rich to pass wealth to heirs with little to no tax, part of a broader plan to raise money for an expansion of the...
60-year veteran of Wall Street Art Cashin reflects on 9/11 and what it took to rebuild
A day before the 20th anniversary of 9/11, veteran trader Art Cashin reflected Friday on the impact of the terrorist attacks on Wall Street, the country and him personally. Cashin, who has been an NYSE member since 1964, was in...
Canadian Employment Change in Line as Data Continues to Show Improvement
Canada’s employment change for the month of August came in roughly as expected: +90,200 vs +100,000 expected. The breakdown between full-time jobs and part-time jobs had a nice distribution, with three-fourths of the jobs going to full-time positions and one-fourth...
British fintechs are jumping into the booming buy now, pay later market
A Mastercard debit card from U.K. digital bank Monzo. Monzo LONDON — Monzo and Revolut, two of Britain’s best-known financial technology firms, are planning to enter the booming “buy now, pay later” industry. Buy now, pay later, or BNPL, plans...
Producer inflation accelerated in August, as wholesale prices rose record 8.3% from a year ago
Prices that producers get for final demand goods and services surged in August at their highest annual rate since at least 2010, the Labor Department reported Friday. The producer price index rose 0.7% for the month, above the 0.6% Dow...
CAD Rebounds on Strong Job Data, USD Turning Weaker
Canadian Dollar rebound strongly in early US session after stronger than expected job data. Commodity currencies are also generally firm with European stocks and US futures, followed by Sterling. On the other hand, Yen, Swiss Franc and Dollar are turning...