Aussie Higher After Jobs Data
Details better than headline On the headline, the June employment report for June didn’t look too impressive, with a mere net 500 jobs added in the month. However, drilling down into the details showed that 21,100 full-time jobs made up...
Oil Mixed After EIA Report Shows Large Drawdown
Oil rose on Wednesday after the release of the Energy Information Administration (EIA) weekly crude inventories report showed a larger drawdown than anticipated at 3.1 million barrels of crude, a surprise buildup of 3.6 million barrels of gasoline and a...
Crude Oil Price Drops After Iran Approaches US For Talks
The price of crude oil declined sharply in overnight trading after US Secretary of the State, Mike Pompeo said that Iran had approached the US for talks. While not much information was shared, investors interpreted this to mean that the...
Japanese Trade and CPI Data Eyed ahead of Upper House Elections
Trade and inflation numbers will be watched out of Japan this week ahead of the weekend elections for Japan’s upper chamber. The June trade data is due on Wednesday at 23:50 GMT, while the inflation figures for the same month...
The US Dollar Is Condolidating
The US dollar is changing slightly against a basket of major currencies. The US dollar index (#DX) closed trading session with a slight increase (+ 0.13%) yesterday. Trading activity and volatility in the foreign exchange market declined as investors focused...
GBP/NZD: Kiwis Might Have Lost CWC but NZD on Top in FX Battle
You can’t help but feel sorry for the New Zealand cricket team after Sunday’s final against England, who became world champions for first time after an incredible win in the super over. While the kiwis agonisingly lost that particular fight,...
European Update – Investors Unconvinced by Data
Mixed picture across Europe Its been a mixed start to trade on Monday, with Chinese data initially giving a boost to the basic resource sector and sentiment on the whole. The data was a mixed bag which may explain why...
Weekly Economic and Financial Commentary: “To Call Something Hot, You Need to See Some Heat”
U.S. Review Fed Rate Cut Approaching in July Fed Chair Powell did nothing during his Semiannual Monetary Policy testimony to Congress this week to push back against the market’s view that the Fed will cut rates at its July 30-31...
The Weekly Bottom Line: Bank of Canada Signals High Bar to Cuts
U.S. Highlights In a busy week for Fed communication, Chair Powell gave his semiannual testimony to Congress where he confirmed that crosscurrents hitting the outlook would likely require some additional accommodation. The Fed Chair also noted that he doesn’t see...
Forward Guidance: Inflation Data to Keep BoC on the Sidelines, For Now
Comments from US Fed Chair Powell this week reinforced expectations for a rate cut at the end of July, and we think a follow-up move is likely in September. “Muted” inflation trends give the Fed flexibility to provide a bit...
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