Forward Guidance: Expiration of Policy Supports, Unpredictable US Trade Policy Cloud Outlook Despite Sunnier Data
Early economic data from the recovery should continue to be upbeat over the next week. Persistently strong residential building permit issuance means Canadian housing starts probably ticked up in July from the 212k annual rate in June after not slowing...
Week Ahead – Dollar Eyes US Stimulus Talks, Retail Sales; UK GDP and RBNZ in Focus Too
Congressional talks in the United States on a new virus relief package will dominate the market headlines yet again in the coming week as the durability of the latest risk-on episode rests on a deal being reached. But investors will...
There Is A Variety Of Trends On Currency Majors. Investors Expect Data On The Labor Market
The US dollar has become stable against a basket of currency majors. The US dollar index (#DX) closed yesterday’s trading session with a slight decline (-0.09%). Traders monitor the talks in Washington on new measures to stimulate the American economy....
NFP Preview: Will the Jobs Report Save the US Dollar?
When it comes to the FX market, the elephant in the room is the US dollar. The greenback is in the midst of a sharp downtrend against all of its major rivals with the US dollar index testing its lowest...
US Jobs Picture Stabilizing with Renewed Drop in Claims
A decline in initial jobless claims for both regular and PUA benefits alongside a drop in continuing claims suggests the jobs recovery has not gone into reverse. Nevertheless, tomorrow’s payroll report could be wild. Cross-the-Board Improvement in Claims Figures By...
Asia Morning: U.S. Stocks Climber Higher, Dollar Weaker
On Wednesday, U.S. stocks ended again in positive territory, led by blue-chip stocks. The Dow Jones Industrial Average jumped 373 points (+1.39%) to 27201, the S&P 500 gained 21 points (+0.64%) to 3327, and the Nasdaq 100 was up 28...
Nonfarm Payrolls: Great Expectations?
The US employment report will hit the markets at 12:30 GMT Friday, and forecasts suggest the American economy added another 1.6 million jobs in July. Why is the consensus so optimistic even though the US recovery is losing steam? The...
Euro-Zone’s Producer Price Index Rose For The First Time In Five Months In June
For the 24 hours to 23:00 GMT, the EUR rose 0.32% against the USD and closed at 1.1799. On the macro front, Euro-zone’s producer price index rose 0.7% on a monthly basis in June, recording its first increase in prices...
USD/CAD Steady as Canada Manufacturing PMI Rises
The week started slowly for USD/CAD, as Canadian banks were closed for a holiday. Tuesday has started in the same fashion, with limited movement from USD/CAD. Canada Manufacturing PMI shows expansion Canada’s manufacturing sector has been hit hard by the...
USD Wobbles Despite Positive Financial Data
The USD’s resurgence seems to be taking a breather, as investors seem to worry about the new fiscal stimulus package brewed in Washington. On the flip side, it should be noted that US financial data yesterday tended to be mixed...
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