Pound Rebounds on Brexit Optimism
The British pound is flying in the Monday session. GBP/USD is currently trading at 1.3368, up 1.14% on the day. In the European session, the pound climbed as high as 1.3445, before retreating back below the 1.34 level. Brexit causing sterling...
Will A Brexit Breakthrough Ever Come?
Brexit talks failed to deliver a breakthrough on Sunday, but both the UK and EU have agreed to continue negotiations ahead of December 31. No progress has been made on the major sticking points, but the extension provides hope that...
Weekly Economic and Financial Commentary: Winter Is Here
U.S. Review Winter Is Here Emergency authorization of the Pfizer-BioNTech COVID vaccine appears imminent, but the virus is running rampant across the United States today, pointing to a grim winter. Despite continued negotiations, additional COVID-relief remains elusive (see topic of...
The Weekly Bottom Line: Economic Progress Shows Signs of Waning
U.S. Highlights The S&P 500 edged lower this week on the back up in weekly jobless claims and sentiment that negotiations over the additional relief package have come to a standstill. On the economic front, besides jobless claims, optimism among...
Forward Guidance: Deluge of Data to Foreshadow Second Wave Blow to GDP Growth
A torrent of data next week will likely confirm that the Canadian economy grew – albeit at a slower pace – in October. But that was before a wave of new virus containment measures delivered a sharp sting to the...
Week Ahead: A New Brexit Deadline, Coronavirus, Central Banks, and Economic Data
Things are not looking so hot for a Brexit trade deal. Although the UK’s Boris Johnson and EC President Ursula von der Leyen met for dinner on Sunday night, hopes are slim that the two sides can reach an agreement...
Week Ahead – Fed Could Under-Deliver as Others to Sit Out; Flash PMIs May Test Market Optimism
Markets will go into high gear in the coming week as a jam-packed schedule looks sure to inject plenty of excitement before traders disappear for the festive period. The Federal Reserve will be headlining the week as speculation is rife...
Weekly Focus: EU Paves Way for Stimulus as Vaccine Campaign Kicks Off
It has been another busy week in the EU. It removed a key obstacle to adopting its new budget for 2021-27 and its recovery fund, next generation EU. The breakthrough came as Poland and Hungary agreed to lift the veto on...
Pound Flat as Manufacturing Data Jumps
The British pound is showing little movement in the Thursday session. GBP/USD is currently trading at 1.3304, up 0.06% on the day. GDP slows in October The monthly GDP report slowed to a crawl in October, with a gain of...
Waiting on Stimulus Breakthrough
Wall Street opened a little lower on Thursday as we await the FDAs decision on the Pfizer vaccine and US lawmakers push ahead with stimulus talks. Following statements earlier this week, the decision to grant emergency use authorisation to the...
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