Elliott Wave View: USDCAD Looking For More Upside
Short-term Elliott wave view in USDCAD suggests that the cycle from 01 Jun 2021 low is unfolding as a double correction. The structure remains incomplete favoring more upside extension. Up from that low, the pair has ended the first leg...
Stocks making the biggest moves after hours: Lululemon, Boston Beer, GameStop & more
Pedestrians wearing protective masks walk past a Lululemon store in San Francisco, California, on Monday, March 29, 2021. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines after the bell: Lululemon — Shares of the...
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...
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...
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...
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...
Dax Falls Over 1% in Pre-ECB Trading
The Dax accelerated lower on Wednesday, extending weakness into the second consecutive day and being on track for the biggest one-day loss since July 19. Global stocks eased on worries about the slowing pace of global economic recovery, with European...
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...
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,...
Canadian Dollar Turns Weaker ahead of BoC, Dollar Extending Rebound
Dollar’s recovered continued in Asian session today, partly supported by hawkish comments from a Fed official. Mixed sentiments in the stock markets also stabilized the greenback. Instead, commodity currencies continued to reverse some gains. Main focus today will turn to...