Canadian Dollar Falls, CPI Rises
The Canadian dollar is flat in the European session. Currently, USD/CAD is trading at 1.2603, down 0.01%. On Wednesday, the Canadian dollar fell by 0.40% as USD/CAD pushed into 1.26-territory. How will BoC deal with surging inflation? The Federal Reserve...
US Oil Falls Through Key Support
WTI crude tumbled after OPEC warned of supply surplus. The rally has stalled after the bulls struggled to lift offers at 85.00. On the daily timeframe, the RSI’s double top in the overbought area indicates an overextension. A break below...
EURJPY Descending Move Continues As Bearish Forces Linger
EURJPY continues its descending move after the October high, powered by lingering negative forces. Moreover, its 50-period simple moving average (SMA) has crossed below the 200-period SMA completing a ‘death cross’ and increasing fears of a sustained bearish outlook.The short-term...
‘Criminals love buy now, pay later’: How fraudsters exploit popular interest-free payment plans
The Klarna logo displayed on a phone screen. Jakub Porzycki | NurPhoto | Getty Images LONDON — Buy now, pay later services aren’t just popular among consumers. They’re also proving to be a hit with criminals. Fraudulent activity is on...
NZD Rises Mildly on Firm RBNZ Rate Expectations, Euro Still Pressing Key Support
New Zealand Dollar trades mildly higher today, after an RBNZ survey shows firm expectation of more rate hike ahead. On the other hand, Canadian Dollar weakens broadly as WTI crude oil’s pull back extends below a near term support level....
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....
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