US: Durable Goods Orders Rebounded in March
Durable goods orders rose 2.7% in March. Core capital goods orders suggest the economy has momentum going into Q2, but core capital goods shipments still suggest weak business spending in tomorrow’s Q1 GDP report. Orders Rebounded in March, Q1 Business...
FX Market Dynamics Foreshadows The Possible Troubles
Stock indices struggle to stay on highs, while the forex market gives a sign to the possible downward reversal. Stocks Key US indices, S&P500 and Nasdaq, are declining within 0.2% after touching the historical highs area. Strong corporate earnings in...
USD/INR: Indian Rupee Below Rs70 Per Dollar On Oil
Last month, on the 19th March, the Indian rupee hit a major resistance area against the US dollar, prompting us to write an aptly-titled article: “USD/INR: Indian Rupee hits major hurdle, could reignite EM currency concerns.” As it turned out,...
BOC Drops its Hawkish Bias, USD/CAD Breaks Above 1.3500
To the surprise of no informed market participant, the Bank of Canada left interest rates unchanged at 1.75% in today’s monetary policy meeting. A pre-meeting Bloomberg poll of 24 economists showed this result was unanimously expected, so the “decision” itself...
Bank of Canada Rate Hold Comes with a Growth Downgrade
Matching expectations, the Bank of Canada held its overnight interest rate unchanged at 1.75% this morning. The tone of accompanying communication tilted dovish, perhaps more than markets anticipated given the immediate further decline in yields and the dollar. Compared with...
Dollar Continues March Higher as the Stock Rally Pauses
The dollar continues to march on higher, while global yields fell as markets await the next wrath of earnings. The S&P 500 and Nasdaq both closed above their prior record high closes yesterday and investors are continuing to run to stocks...
European Update – US Earnings Fail To Lift Stocks
Market bounce quickly fades after encouraging earnings We’re seeing another mixed session in Europe on Wednesday, with stocks here and in Asia clearly not encouraged by the earnings reports in the US that prompted a record close in the S&P...
The Aussie Gets Slammed With CPI Data Miss
Australia’s Inflation appears to have left the building for today’s CPI report. With headline data missing expectations and moving further away from the target band, rate cut-calls are likely on the rise. In February, the RBA downgraded Q2 CPI and...
Australian Q1 Inflation – CPI Flat In The Quarter Highlighting Very Little Inflationary Pressure
March Quarter CPI Headline CPI 0.0%qtr/1.3%yr Trimmed mean 0.28%qtr/1.6%yr Weighted median 0.10%qtr/1.2%yr Inflation surprises to the downside – the return of Godot The March Quarter CPI was flat (0.0%) compared to the market median of 0.2% and Westpac’s forecast for...
Yen Drifting as BoJ Inflation Matches Forecast
USD/JPY continues to trade quietly. In the North American session, the pair is trading at 111.92, down 0.02% on the day. On the release front, it’s a quiet start to the week. The sole U.S. event was Existing Home Sales....
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