Mortgage refinance demand continues its free fall, as interest rates rise again
Rising mortgage interest rates continue to take their toll on demand, especially in the refinance market. Total mortgage application volume fell 2.8% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average...
“As Expected” Canadian CPI Data Disappoints USD/CAD Traders
As traders already know, inflation has been running hot these last few months! Recent inflation data from the US and the UK both beat already high expectations. The Canadian October CPI headline print was hot as well, at 4.7% YoY...
Canada: Inflation Heats Up Further in October
Consumer price inflation accelerated to 4.7% year-on-year (y/y) in October, up from 4.4% in September. Energy prices remained a key contributor to hotter inflation. Energy prices were 25.5% higher than a year ago, with gasoline prices up a whopping 41.7%....
Biden calls on FTC to probe anti-consumer behavior by energy companies as gas prices soar
US President Joe Biden speaks during an event to commemorate Veterans Day at The Tomb of the Unknown Soldier at Arlington National Cemetary in Arlington, Virginia on November 11, 2021. Nicholas Kamm | AFP | Getty Images President Joe Biden...
Sterling Jumps on Strong CPI, Euro Selloff Continues
Sterling jumps broadly today after much stronger than expected consumer inflation data, that raises the chance that BoE will “have to act” on interest rates soon. On the other hand, Canadian Dollar shrugs off strong, but inline with expectation CPI....
Canadian Dollar Flat ahead of CPI
The Canadian dollar is drifting ahead of the North American session. Currently, USD/CAD is trading at 1.2559, unchanged on the day. Canada will release October inflation reports later in the day. As is the case in the US, inflation is...
Ignore ‘hysterical people’ — inflation is not here to stay, economist says
A breakdown of the latest U.S. data indicates that inflation is confined to certain sectors and will not pose a threat to the recovery, according to Carl Weinberg, chief economist at High Frequency Economics. U.S. CPI inflation came in at...
GBPCAD Takes A Breather, But Downtrend Still In Play
GBPCAD has rebounded in recent sessions, finding fresh buy orders after hitting 1.6710, a low last reached in March 2020. Despite this bounce, the structure of lower lows and lower highs remains intact. The pair is also trading below both...
Dollar Extends Rally as Focus Turns to UK and Canada CPI
Dollar’s rally extends in Asian session, with EUR/USD breaching 1.13 key support zone. Meanwhile, USD/JPY also breaks 114.86 near term top. Sterling is so far very resilient as markets await inflation data from the UK. Canadian Dollar is just mixed...
EURUSD Elliott Wave View: Further Weakness Expected
Short Term Elliott Wave view on EURUSD suggests the decline from October 28 peak is unfolding as a 5 waves impulse Elliott Wave structure. Down from October 28, wave (i) ended at 1.1533 and rally in wave (ii) ended at...