Forward Guidance: Canada GDP Data to Highlight Resilience Through Second Wave
Next week’s Canadian GDP report is expected to confirm the economy continued to grow in January, despite virus-containment measures that put a lid on retail sales and kept the hospitality sector sharply depressed. We see little reason to deviate from...
Sterling Forms Double Bottom Ahead Of The UK Retail Sales
The British pound rose against the US dollar ahead of important UK retail sales numbers. The median estimate is for the country’s core retail sales to rise from -8.8% in January to 1.9% in February. This will lead to an...
After SNB Decision, Will Swiss Franc Resume its Decline?
The Swiss franc is unchanged in Thursday trading. Currently, USD/CHF is trading at 0.9353, down 0.02% on the day. Swiss franc steady as SNB holds the course There were no surprises from the Swiss National Bank, which held its policy meeting...
Stocks Markets Are A ‘Team’ Hame
Strong PMIs send Nasdaq reeling A few stories are circulating in Asia today to pique the market’s interest. Strong PMIs from the US and Europe overnight saw the cyclical rotation trade reappear in equities, with the tech-heavy Nasdaq tumbling 2.0%....
Global Flash PMIs Impress, Disappointing Durables, Oil Rebounds Despite Suez Canal Still Blocked
US stocks rallied after Fed Chair Powell and Treasury Secretary Yellen reinforced their bright outlook for the economy and stance on inflation, government debt, need for revenue for permanent spending, and ultra-dovish commitment for the labor market. The Powell/Yellen put...
Pound Dips On Soft Inflation
The British pound is in negative territory in the Wednesday session. Currently, GDP/USD is trading at 1.3709, down 0.32% on the day. Pound struggling to stay above 1.37 The British pound remains under pressure, as GBP/USD fell below the 1.37...
NZ Dollar Plunges on Housing Reforms
The New Zealand dollar has plummeted in Tuesday trade. Currently, NZD/USD is trading at 0.7024, down 1.94% on the day. Earlier in the day pair fell as low as 0.7020, its lowest level this year. NZ dollar plunges on new...
Pound Falls as Unemployment Claims Soar
A mixed jobs report is dragging on the pound. The ILO employment report revealed that unemployment unexpectedly ticked lower to 5% in the three months to January, down from 5.1% in December and below the 5.2% expected. The unemployment rate...
TRYing Times & EM FX Volatility
Turkish Lira fireworks are back with a bang in the EM scene. TRY plunged at the start of Monday trading after Erdogan fired central bank governor Naci Agbal following a rate hike. EM currencies were pressured across the board, prompting...
Eurozone PMIs May Nudge Higher but Unlikely to Ease Euro’s Vaccine Pain
As Europe’s vaccine drama unfolds, the flash March PMI prints for the euro area may generate some positive headlines for the region’s struggling economy on Wednesday (09:00 GMT). The easing of certain lockdown restrictions in some countries probably led to...
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