The European Central Bank and the Bank of Japan will hold their first policy meetings of 2019 next week as concerns mount about a global downturn. GDP figures out of China could underscore the worsening outlook, while flash PMIs...
Canadian consumer price inflation was 2.0% y/y in December, up a bit from November's 1.7% pace. Markets were looking for a repeat of November's 1.7% pace. On a seasonally-adjusted basis, prices were up 0.2% month-on-month.
Much of the acceleration can...
Canadian Dollar strengthens mildly in early US session and is trading as the strongest one for today so far. Recovery in oil price has been supporting the Loonie through the day. And, further lift is given by stronger than...
Headline CPI dropped -0.1% mom in December versus expectation of -0.3%. Annually, CPI accelerated to 2.0% yoy, up from 1.7% yoy and beat expectation of 1.8% yoy.
Core CPI readings were steady. CPI core-common was unchanged at 1.9% yoy. CPI...
European Commission spokesman Margaritis Schinas once again told a regular news briefing that there is no request for Article 50 extension from the UK yet. But he pointed out that if the UK is going to leave after July...
European Commission publishes draft negotiating mandates with the US today. The negotiating directives cover two potential agreements with the U.S:
A trade agreement strictly focused on the removal of tariffs on industrial goods, excluding agricultural products;
A second agreement, on conformity...
Sterling weakens notably after rather poor December UK retail sales data.
Retail sales including auto fuel dropped -0.9% mom versus expectation of -0.7%.
Retail sales excluding auto fuel dropped -1.3% mom versus expectation of -0.5% mom.
Also, for the three...
European markets and US futures are trading sharply higher today building on the optimism around the US-China trade talks. We have seen significant increase in the numbers of investors who have added risk assets in their portfolio on the...
Stocks advance, safe-havens tumble on reports US could roll back China tariffs
In the UK, sterling surged without Brexit news; sentiment is improving
Today, Canadian inflation figures and Fed speakers may steal the show
Stocks jump, yen softens on...
USDCAD has been struggling below the 23.6% Fibonacci retracement level of the upleg from 1.2060 to 1.3663, around 1.3285 over the last seven days, following the bearish rally from the 19-month high of 1.3663. The price also remains below...
Yen trades generally lower in rather quiet markets today. Risk appetite strengthens mildly despite extended record run in US government shutdown. There were rumors that US is considering to roll back tariffs to facilitate trade negotiation with China. But...
Asian stocks trade broadly higher today following the extended rally in the US. There were rumors that Treasury Secretary Steven Mnuchin is considering to roll back tariffs on Chinese imports to facilitate negotiation. But such rumor was quickly denied....
In December, Japan all item CPI slowed to 0.3% yoy, down from 0.8% yoy and matched expectation. Core CPI, all item ex-fresh food, slowed to 0.7% yoy, down from 0.9% yoy and missed expectation of 0.8% yoy. Core-core CPI,...
Germany and China pledged to deepening cooperation in the finance sector and fight trade protectionism during Finance Minister Olaf Scholz's two-day visit to Beijing. And three pacts are signed, including agreements with the China Banking and Insurance Regulatory Commission and...
WSJ reported yesterday that US Treasury Secretary Steven Mnuchin was considering the idea of lifting some of even all of extra tariffs on Chinese imports to facilitate trade negotiation with China. But a Treasury spokesman quickly denied.
The spokesman said...
Chicago Fed President Charles Evans said "I'm not worried about inflation getting out of hand" and Fed is "at a good point for sort of pausing" rate hikes. Though, he "wouldn't be surprised if at the end of the...
Key Highlights
The US Dollar traded higher and broke the 108.00 resistance against the Japanese Yen.
There was a break above a major bearish trend line with resistance at 108.40 on the 4-hours chart of USD/JPY.
The US Initial...
As mentioned yesterday, I am still of the view that the dollar could weaken this year and boost buck-denominated metal prices. After all, the Fed has stopped hiking interest rates. You would think this would be good news for...
The latest inflation data out of Canada will hit the markets on Friday, at 1330 GMT. While these figures are always important for market expectations around future Bank of Canada (BoC) rate hikes, the loonie’s overall direction may depend...
In complex adaptive systems like modern financial markets, a change the price of any one market has a spillover effect into other markets. One of the best understood and most straightforward of these intermarket relationships is the impact of...