Yen Selling is Back, Dollar Attempting to Rally
Yen is back as the worst performer on improving risk sentiment and rising yields. Dollar is trying to rally in early US session following rise in treasury yields. But strength is mainly seen against European majors and Yen only. Canadian...
EURJPY Posts Double Top Near 7-Year High
EURJPY has posted a double top around the more-than-seven-year high of 144.25 over the last couple of weeks. The MACD oscillator is extending its positive momentum above its trigger and zero lines; however, the RSI indicator is pointing slightly lower...
SPACs wipe out half of their value as investors lose appetite for risky growth stocks
A trader works on the floor of the New York Stock Exchange (NYSE) in New York, June 16, 2022. Brendan McDermid | Reuters SPACs, once Wall Street’s hottest tickets, have become one of the most hated trades this year. The...
Crude Oil Is Consolidating
On Monday morning, the Brent price is balancing at $113 per barrel The commodity marker remains uncertain – the supply isn’t expanding as quick as it is expected to, and the demand might drop as well. China is cancelling lockdowns...
Dollar in Weak Recovery, Swiss Franc Retreats Mildly
Price actions in forex markets are indecisive today. Dollar is trying to rise after better than expected durable goods orders. It’s also support by recovery in treasury yields. But there is no follow through buying. Canadian Dollar is still the...
Russia Defaulted on its Foreign Sovereign Debt for the First Time in Over a Century
Markets The short squeeze on bond markets stopped on Friday. US Treasuries underperformed German Bunds during the WS risk rally (+3%). US yields rose by 4 bps (5-yr) to 5.9 bps (30-yr). German yields ended narrowly higher on the day....
Commodity Currencies Soft Despite Positive Sentiment, But Canadian Resilient
The forex markets are rather quiet in Asian session today, even though risk sentiment is positive. Most major pairs and crosses are staying inside Friday’s range, even though Yen is slightly stronger with Swiss Franc and Euro. Commodity currencies are...
Falling Commodity Prices Support Sentiment, Dollar Downside Risk Increasing
The forex markets were rather mixed last week. Yen ended as the worst performer, but Swiss Franc was the best. Canadian Dollar rose against all but Franc, while Aussie and Kiwi were weak. Euro was mixed together with Sterling wile...
Weekly Economic & Financial Commentary: The Housing Market Begins to “Reset”
Summary United States: The Housing Market Begins to “Reset” Fed Chair Powell presented the Federal Reserve’s semiannual Monetary Policy report to Congress this week. In his testimony, he acknowledged that tightening monetary policy in order to reduce inflation may result...
Forward Guidance: Canadian Economic Growth to Lose Steam Over the Summer
Canadian GDP likely continued its upward climb in April. We expect output to have risen 0.3% in the month, slightly more than Statcan’s initial 0.2% estimate a month ago. We look for a similar gain in May. This is despite...