USD/CAD: Dueling Jobs Report Disappointments, Bears May Target 1.21 Next
Traders are still weighing which of the two abysmal jobs reports was worse, but the technical picture is far clearer… Two jobs report duds It was a proverbial “shootout at the 49th parallel” with both the US and Canada releasing...
Forward Guidance: Capacity Pressures Weigh on Manufacturers; Vaccinations Accelerating
Statistics Canada already provided a preliminary estimate that manufacturing sales bounced back a sizeable 3.5% in March (after a 1.6% February pullback) as curtailments on auto production related to the global semi-conductor shortage eased. Those disruptions pushed finished motor vehicle...
Cathie Wood loves the setup for her stocks after sell-off, expects big returns from her strategies
Cathie Wood, founder of Ark Invest, said Friday that the pullback in technology stocks is not a cause for concern, and that her long-term bets will pay off over time. “I love this setup,” she said Friday on CNBC’s “Closing...
Green Dot joins corporate exodus from California as fintech firm moves to Austin
Packages containing a Green Dot Corp. prepaid Mastercard Inc. debit card and Visa Inc. debit card, left, are arranged for a photograph in Washington, D.C., U.S., on Thursday, Feb. 15, 2018. Andrew Harrer | Bloomberg | Getty Images Another corporation...
At least 7 million people are likely to get unemployment tax refunds
Samuel Corum/Bloomberg via Getty Images At least 7 million people likely qualify for tax refunds on unemployment benefits received last year, a new report suggests. The American Rescue Plan, which President Joe Biden signed in March, waived federal tax on...
Labor secretary says pandemic is still weighing on economy but confidence is coming back
Labor Secretary Marty Walsh said Friday the Covid-19 pandemic is still weighing on jobs, but he projected optimism about recovery of the U.S. economy as vaccinations continue, saying, “We are starting to see the confidence come back.” Walsh’s comments on...
U.S. Chamber of Commerce blames weak jobs report on enhanced unemployment benefit, kicks off lobbying effort
A help wanted sign is posted at a taco stand in Solana Beach, California. Mike Blake | Reuters The largest business lobbying group in America on Friday blamed a $300-per-week federal jobless benefit for enticing Americans to stay at home...
Week Ahead – US and UK Data to Lead Quiet Week as Dollar Can’t Make Up its Mind
After plenty of excitement from central banks and top-tier economic releases in the past couple of weeks, things will take a backseat over the next seven days. The slower news pulse could give way to some sideways action in currency...
April’s expected hiring boom goes bust as nonfarm payroll gain falls well short of estimates
Hiring was a huge letdown in April, with nonfarm payrolls increasing by a much less than expected 266,000 and the unemployment rate rose to 6.1% amid an escalating shortage of available workers. Dow Jones estimates had been for 1 million...
CADJPY Stretches to Near 40-Month High; Positive Backing Intact
CADJPY appears to be taking a breather around its fresh multi-year high after its recent aggressive rally found traction off the 85.41 level and the Ichimoku cloud’s upper boundary. The soaring simple moving averages (SMAs) are shielding the upwards structure,...
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