Week Ahead – Will We Have Action in Jackson?
Country US The upcoming week is all about the Federal Reserve’s symposium in Jackson Hole, Wyoming. A couple months ago, this gathering was eyed as a potential time for the Fed to formally announce its plan on tapering asset purchases,...
New Zealand Dollar Steadies
The New Zealand dollar has stabilized on Friday but is in negative territory for a fifth straight day. NZD/USD is currently trading at 0.6824, down 0.04% on the day. What’s next for RBNZ? It was quite the week for the...
Week Ahead – Fed Taper: Will They or Won’t They? Splits Loom Over Jackson Hole
The upcoming week will kick off with a bang as the flash PMI readings for August will flood the markets on Monday. However, it might go all quiet after that before Fed officials gather at Jackson Hole later in the...
Forward Guidance: Canadian Business Optimism Clouded by Escalating Input Costs
A quieter flow of economic data next week will highlight the ongoing recovery in hard-hit service sectors. Our own tracking of credit card transactions is pointing to an increase in food services sales that exceeds the 4.2% rebound in retail...
Oil’s Losing Streak, Gold Hangs On
Oil extends slide Oil prices are plunging closer to bear market territory on fears global crude demand forecasts for the remainder of the year will see drastic reductions. Visions of the US economy being fully reopened and with kids attending...
Jittery Markets Post-Fed
It’s been a very strange start to trading on Thursday, with stock markets suffering heavy losses as the rotation into safety gathers significant pace following the release of the Fed minutes. It’s easy to point to the Fed minutes as...
The Dollar Has Fought Its Way Up, The Rally Is Just Beginning
Global equity markets strengthened their decline, and the dollar gained momentum after Fed minutes indicating a readiness to start QE tapering as early as this year. The dollar index rose to its highest level since November 2020, surpassing the reversal...
Caution ahead of Fed Minutes
A day of caution in the markets, with Europe a mixed bag and the US opening marginally lower as we await FOMC minutes later in the session. Given how much Fed commentary we’ve had over the last couple of weeks,...
Oil Under Pressure, Gold Rises
Oil continues to suffer recovery nerves The weaker than expected US Retail Sales data and ensuing US dollar strength weighed further on oil prices overnight. Confidence is being weakened anyway by softer China data earlier in the week and ratcheting...
OPEC+ Shuns US Request, Gold Eyes $1,800
Oil under pressure even as OPEC+ shuns US request Oil prices coming under further pressure on Tuesday after rebounding off its lows once more at the start of the week. This came after OPEC+ sources claimed the group sees no...