Week Ahead – Doves are Back in Control
US stocks rallied to record highs and dollar weakness returned as investors shrug off the hawkish tilt given at last week’s FOMC policy decision. A wrath of Fed speak showed that more policymakers are in the camp that inflation will...
Forward Guidance: Better Times ahead after Spring Wave Dented Canada’s GDP Recovery
Even as optimism builds alongside rising vaccination rates, backward-looking Canadian economic growth data will continue to reveal the bruising impact of containment measures during the spring wave of COVID-19. Statistics Canada’s preliminary estimate was for a 0.8% drop in April...
US Core PCE: Will it Cause US Fed Members to Change Their Views?
US Core PCE is said to be the Fed’s favorite measure of inflation. As mentioned in our Preview, it is wide encompassing, as it covers all households and nonprofit institutions servicing households. Therefore, the Fed is said to favor this...
The S&P 500 Index Set A New All-Time High On The Back Of US Labor Market Data And The Infrastructure Deal
The number of initial jobless claims in the US fell by 7,000 last week to 411,000. The labor market is showing steady recovery dynamics. With positive PMI data, the major US stock indices continue to rise confidently. The US S&P...
Japanese Yen Touches 3-Month Low
USD/JPY has posted slights gains on Thursday. In the North American session, USD/JPY is trading at 110.73, down 0.20% on the day. Despite today’s improvement, the yen remains under pressure. Earlier in the day, USD/JPY touched a high of 111.11,...
Gold Remains Rather Steady
The USD seemed to steady yesterday against a number of its counterparts, while US stockmarkets even retreated a bit and gold remained relatively stable after the wide drop of its price, experienced in the past week. Comments by Fed officials,...
CAD Shrugs Off Soft Retail Sales
The Canadian dollar is in positive territory for a third straight day. In Wednesday’s North American session, USD/CAD is trading at 1.2262, down 0.35% on the day. Retail sales fall sharply In Canada, the only events on the calendar this...
Euro Yawns as German PMIs Accelerate
The euro is almost unchanged in the Wednesday session. In North American trade, EUR/USD is trading at 1.1940, down 0.01% on the day. An important gauge of economic activity is the PMI reports, and the news was positive out of...
Asian Open: The Fed Guides Equities Higher, Copper Probes Resistance
We’re amidst another busy week for the Fed with 16 public appearances scheduled overall, with Powell, Mester and Daly hitting the wires overnight. Asian Futures: Australia’s ASX 200 futures are down -15 points (-0.21%), the cash market is currently estimated...
Pound Under Pressure, Falls Below 1.39
The British pound has reversed directions on Tuesday. In the North American session, GBP/USD is trading at 1.3913, down 0.14% on the day. The pair touched a low of 1.3860 in the Asian session. Pound rebounds after dismal week Last...