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Fundamental analysis of Forex market

US Stocks Fall From Record Highs

US equities tumbled from all-time highs as investors weighed the start of the corporate earnings season and an increase in the total amount of bond offerings that triggered the rally ...
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Will Business Confidence Shake Up AUD?

The Australian dollar has started the week with a whimper. Currently, AUD/USD is currently trading at 0.7620. Australia releases the NAB Business Confidence early on Tuesday (1:30 GMT). Business confidence ...
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Euro Pauses after Solid Week

The euro has posted slight gains in the Monday session. Currently, EUR/USD is trading at 1.1914, up 0.13% on the day. The euro has been on a steady decline since ...
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Data Flurry to Inspire a Range Break?

Last week’s narrow AUD/USD trading range of 0.7588 to 0.7677 was the first sub-1 cent weekly range since November 2020. This week’s busy Australian data calendar could inspire clearer direction ...
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Weekly Economic & Financial Commentary: Reopening Boom, while Supplies Last

U.S. Review: Reopening Boom, while Supplies Last This week’s economic data kicked off with a bang. The ISM Services Index jumped to 63.7, signaling the fastest pace of expansion in ...
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The Weekly Bottom Line: A Few Dark Spots in Bright Economic Growth Prospects

U.S. Highlights U.S. equities jumped early this week and continued to move higher over the course of it despite the prospect of higher corporate taxes announced by the Biden administration ...
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Week Ahead: Lockdowns and “Re-Openings”, Big Data Dump, and Earnings Season Begins!

The talk last week was all about the expectation of an upcoming economic boom into the spring and over the summer months. Although there are current lockdowns spread throughout Europe ...
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Week Ahead: Fed’s Inflation Calm About to Get Tested

The Fed has clearly signaled they are not worried about inflation and that should worry financial markets. The Fed has repeated that inflation will be transitory, but financial markets have ...
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Week Ahead – US and China Data Could Reinforce Optimism but RBNZ to Sound Caution

As the dollar recedes on some scepticism around the aggressive bets of an early Fed tightening, US inflation and retail sales numbers due in the coming week could reignite those ...
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Canada Employment Surged Higher in March

Stronger-than-expected 303k employment gain cut the remaining shortfall relative to pre-shock levels in half Easing containment measures allowed some recovery in hospitality sector, but gains broadly based The unemployment rate ...
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Euro Drifting after FOMC Stays Dovish

The euro is almost unchanged in the Thursday session. Currently, EUR/USD is trading at 1.1880, up 0.07% on the day. The euro was red-hot early in the week, as EUR/USD ...
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US: Jobless Claims Increasingly an Outlier

SummaryThe second consecutive increase in weekly claims to 744K and the modest increase in the four-week average stand in contrast to nearly all other reads on the labor market at ...
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US: Funding Measures Include Raising The Corporate Tax Rate To 28%

Markets Minutes of the previous FOMC meeting showed that participants think that it would likely be some time until substantial further progress toward the committee’s maximum-employment and price-stability goals would ...
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Record Deficit, AstraZeneca, Dimon’s Letter, Cryptos Pullback

US stocks edged higher after a record deficit showed that US consumer and business demand is heating up, prompting investors to continue to buying reopening stocks. Market moves across most ...
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Rotational Spin

US markets paused for breath overnight, with Wall Street easing slightly after a frenzied Monday session. Rotational spin was the theme of the day, and yesterday’s lucky recipient was the ...
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Ivey PMI Could Boost Canadian Dollar

The Canadian dollar has reversed directions on Tuesday and posted slight losses. Currently, USD/CAD is trading at 1.2549, up 0.25% on the day.Canada Ivey PMI expected to climb The Ivey ...
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Recovery Optimism Sends Dax to Record High

Dax, FTSE gain groundEuropean stocks are bounding higher on Tuesday, rallying to record levels on signs of economic recovery, even as the region battles with its third wave of Covid ...
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Ka-Boom: Services ISM Hits Record High

SummaryThe ISM Services PMI surged more than eight points to 63.7 in March, signaling a record pace of expansion. The jump in the new orders and employment components is indicative ...
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Ka-Boom: Services ISM Hits Record High

SummaryThe ISM Services PMI surged more than eight points to 63.7 in March, signaling a record pace of expansion. The jump in the new orders and employment components is indicative ...
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Markets Await RBA Decision

The Australian dollar has started the week with slight gains. Currently, the pair is trading at 0.7626, up 0.25% on the day. US Nonfarm Payrolls easily outperforms Friday’s Nonfarm payrolls ...
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Weekly Economic & Financial Commentary: Activity Marches Higher

SummaryU.S. Review: Activity Marches Higher The improving public health position led to an easing of restrictions and pickup in activity across the country in March. Data this week show an ...
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Week Ahead: US Jobs Hiring Spree Suggests Reflation Trade is Back

CountryUS The US economy is about to run hot as a hiring spree has officially started. The dollar may have got its groove back as Treasury yields are rising again ...
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RBA to Stand Pat, Focus on Yield Containment as Aussie Settles Lower

The Reserve Bank of Australia meets on Tuesday for its policy meeting, with a decision expected at 05:30 GMT. No change in policy is anticipated at the April meeting despite ...
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Week Ahead – A Battle of Yields as RBA Meets, Fed and ECB Publish Minutes

With most markets closed on Monday for the Easter celebrations, it will be a fairly muted week as there’s not a lot on the agenda that can excite markets. The ...
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Week Ahead: Coronavirus Worsens, and the Bickering Begins Over Biden’s Infrastructure Plan

Monday is a holiday and many of the major markets will be closed. Now that month-end and quarter-end are behind us, as well as Non-farm payrolls and OPEC, the focus ...
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US March Employment: Real Progress

SummaryHiring stepped up in a major way in March, with employers adding 916K new jobs. More workers returned to the job market and the unemployment rate edged down to 6.0% ...
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NFP React: Jobs Roaring Back, Stocks Pop, Dollar Strengthens, Yields Higher, Oil and Metals Markets Closed, Bitcoin Higher

The hiring spree has officially started in the US and Wall Street knows that it will take several months of monstrous job gains to trigger the taper tantrum. The equity ...
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The Weekly Bottom Line: Emerging Markets Are Weathering the Storm

U.S. Highlights Economic data tilted positive this week, with consumer confidence and the ISM manufacturing index rising respectively to one-year and 37-year highs, auguring for a strong showing for Friday’s ...
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RBA: The Dynamics of QE and Yield Curve Control

The Reserve Bank Board meets next week on April 6.We expect that the Board will decide to maintain its current policy settings. These settings are the targets of 10 basis ...
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Dollar Could Hold Strong Again Today

Markets Biden’s leaked $2.25tn stimulus plan supported risk sentiment on US markets yesterday. Despite ambitions to fully fund the proposal by raising corporate taxes, WS finished a tech-lead rally up ...
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German Retail Sales, PMIs Eyed

The euro has recorded slight gains in the Wednesday session. Currently, the pair is trading at 1.1743, up 0.25% on the day.Will German Retail Sales lift euro? It has been ...
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Euro Area Inflation On The Rise But Far From Target

ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, ...
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Roar: Consumer Confidence Surges in Preview of Coming Spending Spree

Consumers certainly regained confidence in March. The headline print of 109.7 handily exceeded even the most optimist forecast with room to spare. After a run of mostly disappointing February data, ...
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Swissie Falls Despite Sparkling Swiss KoF

The Swiss franc is trading in negative territory in the Tuesday session. Currently, USD/CHF is trading at 0.9422, up 0.35% on the day. On the fundamental front, Switzerland releases the ...
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Oil Looks To OPEC For Direction

When: Thursday 29th March Oil prices were on a roller-coaster ride across the previous week, with swings on two consecutive days of 6%, as the bears and bulls tussled over ...
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Silver Unfollows Gold: Where Next?

Historically, gold and silver tend to be highly correlated assets, but their strong positive relationship slightly relaxed in the first quarter of the year, making investors wonder whether this deviation ...
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European Open: Brent And WTI Are Lower As Ever Given’ Is Refloated

Whilst the refloating of the large cargo has weighed on oil prices overnight, it remains unclear how quickly the Suez Canal will be reopened and fully operational. Asian Indices: Australia’s ...
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Weekly Economic & Financial Commentary: Softer Economic Data Do Not Signal a Change in Underlying Momentum

U.S. ReviewSofter Economic Data Do Not Signal a Change in Underlying Momentum This week’s larger-than-expected declines in durable goods orders as well as new and existing home sales do not ...
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The Weekly Bottom Line: Bad February Data a Temporary Setback

U.S. Highlights Markets see-sawed on the week as investors were pulled between positive economic news and concerns about rising bond yields and rising Covid-19 cases in Europe. Soft U.S. economic ...
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Week Ahead: Where Do We Start?

This could be one of the busiest weeks of the year for the markets or it could be extremely dull. The coronavirus is still plaguing Europe. With more lockdowns and ...
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Week Ahead: Has the US Economic Boom Been Mostly Priced in?

Vaccine rollout success in the US has Wall Street quickly pricing in rapid growth during the recovery stage. The trend in daily new cases is rising in the US but ...
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Week Ahead – US Jobs Report to Headline Quiet Easter Week

As markets reassess how soon European economies will be able to reopen, the March nonfarm payrolls report out of the United States will likely highlight the widening growth disparity between ...
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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 ...
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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 ...
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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 ...
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Stocks Markets Are A ‘Team’ Hame

Strong PMIs send Nasdaq reelingA 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 ...
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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, ...
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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 ...
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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, ...
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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% ...
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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 ...
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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 ...
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Could US Treasuries Draw Some Support From A More Fragile Risk Environment?

Markets Markets were still looking for a post-Fed equilibrium last Friday. US yields stayed near recent peak levels, but changes were limited (5& 10y + 1.5 bps, 30y -0.5bps). German ...
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Weekly Economic & Financial Commentary: Still on Track for a Robust Recovery Even After Soft Data This Week

U.S. ReviewStill on Track for a Robust Recovery Even After Soft Data This Week The worse-than-expected outcomes for February retail sales, industrial production and housing starts were in part due ...
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Forward Guidance: Race Between Vaccine Rollout and Virus Spread Heating Up

It would not be at all surprising to see flash Canadian wholesale and manufacturing sale reports for February soften albeit after very solid January gains (wholesale sales rose 4.0%, manufacturing ...
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The Weekly Bottom Line: Spring is Just Around the Corner

U.S. Highlights Most Federal Open Market Committee members see no interest rate hikes until at least 2024 despite a sharp upgrade to the growth outlook. Retail sales weakened on the ...
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The Weekly Bottom Line: Spring is Just Around the Corner

U.S. Highlights Most Federal Open Market Committee members see no interest rate hikes until at least 2024 despite a sharp upgrade to the growth outlook. Retail sales weakened on the ...
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The Weekly Bottom Line: Spring is Just Around the Corner

U.S. Highlights Most Federal Open Market Committee members see no interest rate hikes until at least 2024 despite a sharp upgrade to the growth outlook. Retail sales weakened on the ...
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Week Ahead: Coronavirus, MOAR Powell, and US Treasury Auctions

After a jam packed, Central Bank dominated week, things will begin to slow down as spring arrives. There were no major surprises from the FOMC, BOE, and BOJ last week, ...
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Week Ahead: Coronavirus, MOAR Powell, and US Treasury Auctions

After a jam packed, Central Bank dominated week, things will begin to slow down as spring arrives. There were no major surprises from the FOMC, BOE, and BOJ last week, ...
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Week Ahead: Financial Markets Remain Fixated with Bond Market Moves and Brace for Lots of Central Bank Speak

The focus for the upcoming week will stay with the bond market. Financial markets are worried with how high Treasury yields can go. Treasuries have declined for seven straight weeks ...
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Week Ahead – European PMIs to Chart the Euro’s Course

It seems like a relatively calm week for global markets. The sole central bank meeting will be that of the Swiss National Bank, which will likely be thrilled about the ...
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Will The Asian Bull Flattening Roll Over Into European And US Dealings?

Markets Core bonds got hammered yesterday. USTs significantly underperformed the German Bund, reversing much of (short-term yields) or more than (medium- to long-term) the losses in the wake of the ...
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BOE Hedges Comments from January’s Meeting: GBP/USD

The BOE left rates unchanged at 0.10% and left their bond buying program unchanged at 875 billion Pounds. In addition, the central bank noted that they will not tighten until ...
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The Fed Left Monetary Policy Unchanged. The Market Focused On The Meeting Of The Bank Of England

At the press conference, Federal Reserve Chairman Jerome Powell said that the current monetary policy is appropriate and there is no reason to change the volume of stimulus amid the ...
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Fed Time, Yields Surge

The Nasdaq is lower ahead of the FOMC policy decision that will likely deliver a much more upbeat outlook that should allow the Treasury yields to continue to climb higher ...
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Markets on Fed Watch, Vaccine Woes in Europe

After a mixed session in Asia, Europe is seeing a mildly lower start, with most sitting on the sidelines ahead of the much-anticipated FOMC meeting later today.Volumes are expected to ...
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Bank of England to Stick to ‘Cautionary Realism’ as UK Yields Surge

The Bank of England will announce its latest decision on Thursday (12:00 GMT) just hours after the Fed’s, likely keeping its monetary policy settings unchanged also. There is no press ...
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Aussie Yawns after RBA Minutes

The Australian dollar is having a quiet Tuesday session. Currently, the pair is trading at 0.7744, down 0.14% on the day. Aussie dips lower The RBA minutes were a non-market ...
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Technoking, Bitcoin And The Fed

Technoking of Tesla Elon Musk now gets investors to a very unusual and completely unprecedented series of absurd discussions on what does he mean by his new title. So, the ...
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NZ Dollar Steady Ahead of Consumer Sentiment

The New Zealand dollar is in positive territory in the Monday session. Currently, NZD/USD is trading at 0.7186, up 0.17% on the day. NZD looked strong throughout last week, but ...
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The Dollar And The Stock Market Continue To Show A Tendency Towards Growth

On Friday, the dollar index resumed its growth on the back of positive macroeconomic data and rising Treasury yields. The latter consolidated above 1.60% after the publication of PPI data ...
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Forex and Cryptocurrencies Forecast

First, a review of last week’s events:EUR/USD. Recall that the head of the Fed Jerome Powell literally brought down the American stock markets with his speech on February 4. Powell ...
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The Weekly Bottom Line: Economic Resiliency On Display Again

U.S. Highlights One year after the start of global lockdowns, it is starting to feel like the end is finally approaching. The new fiscal package signed into the law will ...
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Weekly Economic & Financial Commentary: European Economic Trends Remain Unsettled For Now

U.S. Review Inflation Begins Spring Bloom Inflation appears to be heating up. During February, the Consumer Price Index (CPI) rose 0.4% and the Producer Price Index (PPI) advanced 0.5%. The ...
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Week Ahead: Rising Treasury Yields Will Make this an Interesting FOMC Decision

The bond market seems determined to make this an interesting FOMC policy decision. Treasury yields have been surging after the Biden administration passed the $1.9 trillion COVID relief bill and ...
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Week Ahead: Packed Week with Fed, BOE, BOJ and Australian Jobs

With the central bank meetings this week, traders need to be on the lookout for hints as to when a change in monetary policy may be coming.After the BOC and ...
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Forward Guidance: Vaccine Developments Bring Forward Recovery Hopes and Inflation Fears

After falling behind peers, vaccine delivery in Canada is anticipated to ramp up significantly over the coming months. Canada is now expecting around 8 million doses by the end of ...
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Would ECB Bond-Buying Might Slow The Uptrend Of EMU Bond Yields?

Markets European and US bonds parted ways yesterday, driven by a different ‘domestic’ narrative. After cautious positioning ahead of the ECB decision, European bonds outperformed as the ECB put money ...
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European Central Bank Leans Against Rising Yields

Summary The European Central Bank (ECB) announced its latest monetary policy decision today. While policy interest rates and the total size of its Pandemic Emergency Purchase Program (PEPP) were left ...
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Oil Consolidates, Gold Rebounds

Oil markets continue to consolidate Having retraced nearly 50% of last week’s rally, oil markets rose modestly overnight, as both Brent and WTI consolidate recent gains. The official US crude ...
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Will the ECB Fight Rising Yields?

The European Central Bank (ECB) will wrap up its policy meeting at 12:45 GMT Thursday. Some senior policymakers have been vocal about fighting the rise in bond yields, but it ...
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Shady US CPI Data; 10 Year Auction and ECB ahead

The highly anticipated CPI data for February was released earlier today, and the core data was slightly worse than expected. The headline CPI print for the more closely watched YoY ...
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Shady US CPI Data; 10 Year Auction and ECB ahead

The highly anticipated CPI data for February was released earlier today, and the core data was slightly worse than expected. The headline CPI print for the more closely watched YoY ...
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Bank of Canada to Stand Pat, Keep One Eye on the Loonie as Recovery Gathers Steam

The Bank of Canada meets this week to set policy and will announce its decision on Wednesday at 15:00 GMT. No change is expected in either interest rates or the ...
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Oil Rally Continues, Gold Gains Ground

Oil resumes rise After tanking more than 3% in the previous session, oil is clawing its way higher as fears over supply disruption in Saudi Arabia ease and the US ...
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Oil Rally Continues, Gold Gains Ground

Oil resumes rise After tanking more than 3% in the previous session, oil is clawing its way higher as fears over supply disruption in Saudi Arabia ease and the US ...
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The US Dollar Pushes Higher Again

US dollar gains on US yields, inflation fears The dollar index pushed higher again overnight, rising 0.37% to 92.31. Rising US yields, structurally short positioning and a myopic fixation on ...
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March Flashlight for the FOMC Blackout Period: No Major Policy Changes but Perhaps Some Technical Tweaks

Summary We do not look for the FOMC to make any major monetary policy changes at its March 16-17 meeting. Moreover, we expect the Committee to clearly articulate that it ...
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Yield Continue To Drift Higher

Notes/Observations Focus remains on rising bond yields US $1.9T stimulus seen passing the House later this week ECB meets on Thursday and likely to emphasize its readiness to use the ...
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Weekly Economic & Financial Commentary: International Bond Yields Continue to Push Higher

U.S. Review Moving On Up Most of this week’s economic data came in at or above expectations, contributing to growing anxiety about how the Fed will unwind the extraordinary stimulus ...
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The Weekly Bottom Line: Coming Out of the Winter Lull

U.S. Highlights The ISM indexes diverged in February, with manufacturing improving and services falling on the month. However, both remain well in expansionary territory. Vehicle sales, meanwhile, fell 5.7% to ...
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Forward Guidance: Job Growth to Return as Optimism Fills the Air

We look for next week’s Canadian employment report to show that the 2-speed labour market persisted in February with travel and hospitality services remaining exceptionally weak while other sectors continue ...
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Week Ahead: And You Thought Last Week Was Interesting? ECB, US Auctions, and Inflation

Last week, markets were on edge as yields and the US Dollar continued to rise and stocks were mixed. Federal Reserve Chairman Jerome Powell spooked traders when he reiterated that ...
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Week Ahead: Dollar Rally Continues as US Yields Rise

The taperless tantrum could continue across financial markets now that it seems clear Fed Chair Powell won’t react until he sees disorderly market conditions or if financial conditions tighten further ...
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Week Ahead – Will ECB Make a Stand Against Rising Yields?

With bond markets going berserk lately, investors will turn to the European Central Bank meeting on Thursday. Some senior policymakers have been vocal about ‘fighting’ this rise in yields, but ...
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Focus Remains On Yields Ahead Of US Jobs Report

Notes/Observations Global bond yield rally fuels concerns and curbs risk appetite. Traders note the lack of a well-defined red line being set by the Fed had convinced many that key ...
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NFP Preview: When Will Jobs Growth Get Back into Gear?

After a blistering recovery from the pandemic-induced recession through Q2 and Q3 of last year, the US labor market has downshifted sharply. Over the last three months, the NFP report ...
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US Yields Rise, FTSE Slips, Powell in Focus

European bourses are trading on the back foot following a weak handover from Wall Street and a sustained sell-off in Asia. Bond yield concerns are back to haunt investors after ...
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Crude Oil Shrugs Off OPEC+ Output Cuts Rollover

Bond-driven risk aversion dominated broader markets on Wednesday but crude shrugged it off on optimism that OPEC+ will rollover cuts. The US dollar as the top performer while the kiwi ...
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New Zealand Dollar Slips

The New Zealand dollar is down considerably in Wednesday trading. Currently, NZD/USD is trading at 0.7245, down 0.65% on the day. New Zealand dollar stabilizes The New Zealand dollar finds ...
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European Open: Australian GDP Beats, Index Futures Point Higher

Europe is set for a positive open after sentiment remained buoyant overnight, whilst the dollar could face further pressure over the coming session/s. Asian futures: Australia’s ASX 200 index rose ...
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What Does the UK Budget Hold for Sterling?

The Chancellor of the Exchequer will unveil the latest UK Budget on Wednesday at 12:30 GMT. It will likely include another massive round of spending to safeguard jobs and boost ...
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Loonie Remains Choppy Ahead Of Canadian GDP, OPEC+ Decision

Fourth quarter GDP numbers will be watched out of Canada on Tuesday (13:30 GMT) as the recovery is expected to have lost steam. Nevertheless, the Canadian dollar has been edging ...
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US: Manufacturing Sector’s Recovery Continues Unabated

TD Bank Financial Grouphttp://www.td.com/economics/The information contained in this report has been prepared for the information of our customers by TD Bank Financial Group. The information has been drawn from sources ...
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Can the RBA Shoot the Aussie Down?

The Reserve Bank of Australia (RBA) will conclude its March policy meeting at 01:30 GMT Tuesday. The domestic economy is doing well and commodity prices have soared, but the RBA ...
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Weekly Economic & Financial Commentary: The U.S. Economy Continues to Start 2021 on a High Note

U.S. Review The U.S. Economy Continues to Start 2021 on a High Note In January, personal spending increased at a robust 2.4% pace, while personal income soared 10.0%. The core ...
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The Weekly Bottom Line: BoC Govenor Strikes Cautious Tone

U.S. Highlights Federal Reserve Chairman Powell reassured markets that there will be no early tightening of monetary policy or drawdown of asset purchases even with a brighter economic outlook. Consumers ...
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Week Ahead: When Doves Cry

Fed Chairman Powell provided testimony to Congress last week regarding Monetary Policy. He noted that the Fed was in no hurry to take its foot off the easing pedal and ...
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Week Ahead – Rising Yields Spook Markets

Powell fails to ease concerns Everyone is watching the bond markets at the moment, as yields accelerate higher and investors become increasingly anxious. That is dominating the headlines and it’s ...
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Week Ahead – NFP to Guide Yields, RBA Could be a Yawn, Pound Turns to UK Budget for Boost

As a new month starts, investors will have their eyes locked on the latest nonfarm payrolls numbers out of the United States amid an accelerating selloff in bond markets. The ...
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Forward Guidance: Canada GDP to Confirm Economy Weathered Second Wave

We expect GDP rose 7.5% at an annualized rate in Q4 of last year, on the back of a 0.3% increase in December output (in line with Statistics Canada’s preliminary ...
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USD Gains As Yields Rise

The USD tended to gain against a number of its counterparts yesterday, while US stockmarkets displayed sharp drops as USD enjoyed safe haven inflows and USD buyers were also encouraged ...
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Australian Dollar Flirting with 80

The Australian dollar has posted slight gains on Thursday. Currently, AUD/USD is trading at 0.7976, up 0.011% on the day. Australian dollar crosses into 80 territory The Australian dollar has ...
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With Powell Out the Way, Dollar Turns to Data Barrage

The testimonies by Fed chief Powell before Congress confirmed the central bank won’t overreact to any inflation episode but didn’t reveal anything new. The spotlight now falls on the next ...
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Just Like The Good Old Days: Yields, Stocks, Commodities, And USD/JPY All Higher!

Things seem like they are back to normal, regardless of Jay Powell says: Higher stocks, higher yields, higher USD/JPY higher, higher Crude. They all seem to be acting in harmony ...
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GBP/USD: The #1 Most Important Factor Powering Cable’s Relentless Rally

Through a global pandemic, Brexit, US political upheaval, and countless other storylines, there has been one constant in the FX market over the past 6-12 months: A relentless bid for ...
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Resolute – Review Of The RBNZ Monetary Policy Statement, February 2021

As expected, the RBNZ left all monetary policy settings unchanged today. The RBNZ resolutely expects to keep policy stimulatory for an extended period. Inflation is rising right now, but the ...
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Weak Retail Sales Cool off NZ Dollar

The New Zealand dollar has posted small gains in the Tuesday session. Currently, NZD/USD is trading at 0.7313, down 0.22% on the day. Retail Sales slide The New Zealand economy ...
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The US Dollar Continues To Fade

Cyclical rotation pushes dollar down The US dollar found no solace in higher longer-end bond yields overnight, likely because the move was mirrored to some extent among other developed market ...
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Euro Starts Week with a Yawn

The euro has posted small gains in the Monday session. Currently, EUR/USD is trading at 1.2127, down 0.11% on the day. German Business Climate improves German data started the week ...
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GBP/USD Holds Above 1.40 As UK Prepares For Lockdown Easing

The pound remains on the front foot ahead of Boris Johnson’s highly-anticipated speech to unveil ‘cautious’ plan to lift England’s lockdown. Much of the details have already been leaked ahead ...
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Asian Open: Copper Sends Commodity FX To New Highs

AUD and NZD pairs rallied into the weekly close on Friday as commodities and, in particular copper, pushed aggressively higher. Commodities chalked up another broad rise last week, with the ...
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Weekly Economic & Financial Commentary: Q4 GDP Data Top Expectations, but Q1-2021 Looking Shakier

U.S. Review A Consumer and His Stimulus Check Are Soon Parted Stimulus checks from the year-end COVID-relief package arrived in January, and we learned this week that retailers raked in ...
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The Weekly Bottom Line: Economy Progresses in January

U.S. Highlights The week’s data confirmed that the U.S. economy continued to make progress early in 2021. That progress looks likely to get a substantial shot in the arm from ...
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Forward Guidance: Canadian Business Investment Intentions to Show Two Gear Economy

Divergence between the hospitality sector and the broader economy has been a key theme in recent months. Next week’s release of (the usually closely watched) annual investment intentions survey from ...
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Week Ahead: Powell vs Inflation

Inflation and inflation components of economic data were sharply stronger last week than in previous months. Yet, one central bank speaker after the next continued to march out and say ...
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Week Ahead – Dollar Realigns With US Fundamentals, RBNZ Meets

There’s been a striking change in the dynamics of the FX market lately, with the US dollar no longer trading exclusively as a safe haven and instead reacting to American ...
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Canadian Dollar Hits 4-Week High

The Canadian dollar has posted slight gains on Friday. Currently, USD/CAD is trading at 1.2646, down 0.24% on the day. Canadian dollar closes in on 1.26 line The Canadian dollar ...
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Asian Open: US Data – All On The Rise

A slew of US data overnight saw inflationary inputs, unemployment and housing permits rise in tandem. Welcome to 2021! A slew of US data overnight saw inflationary inputs, unemployment and ...
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Canada ADP Jobs Report Plunges

The Canadian dollar is down slightly in the Thursday session. Currently, USD/CAD is trading at 1.2703, up 0.02% on the day. Loonie yawns as ADP nonfarm payrolls slides Canada’s ADP ...
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Equity Win Streak Comes To An End Amid Focus On Rising Yields

Market movers today Focus in the ECB minutes today will be on any discussion regarding rate cuts and strength of the euro. February euro consumer confidence is also released today ...
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Pound Powers Higher ahead of UK Data

The latest batch of British data will hit the markets on Friday. Retail sales will be released at 07:00 GMT ahead of the PMI business surveys at 09:30 GMT. Forecasts ...
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Asian Equities Mostly Lower

Asian equities mostly lower Equities paused the US overnight, the S&P 500 falling slightly by 0.06%, the Nasdaq falling 0.34% which the Dow Jones managed to edge 0.20% higher. The ...
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Euro Down Despite Sharp Confidence Data

The euro is showing slight losses in the Tuesday session. Currently, EUR/USD is trading at 1.2110, down 0.15% on the day. German economic confidence accelerates The German economy continues to ...
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RBA Indicates Support to Continue

The Australian dollar has posted slight gains on Monday, continuing the trend we saw at the end of the last week. Currently, AUD/USD is trading at 0.7777, up 0.20% on ...
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Asian Open: Firmer Asian GDP And Vaccine Rollouts Buoy Sentiment

The global vaccine rollout and stronger GDP across Asia retained a positive tone for equity markets, sending the yen lower and the Nikkei to a 30-year high. Japan’s GDP (growth ...
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Strong Canada Data Boosts Loonie

The Canadian dollar has started the week with gains. Currently, USD/CAD is trading at 1.2643, down 0.40% on the day. It has been a busy start to the week for ...
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5 Themes & 6 Charts To Watch

Meme stocks continue to make waves but economic data and central banks are afterthoughts at the moment. As the market continues to look past the virus, few themes have emerged ...
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Weekly Economic & Financial Commentary: Mixed Finish to 2020, Soft Start to 2021

U.S. Review Inflation Comes Back in Focus Market attention was concentrated on the January consumer price data, as inflation has come back into focus. There is renewed concern among market ...
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The Weekly Bottom Line: Moving In The Right Direction

U.S. Highlights The headline Consumer Price Index rose 0.3% in January and was up 1.4% year-on-year. Removing food and energy prices, the core index was flat on the month and ...
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