The revised version of the United States-Mexico-Canada Agreement (USMCA), or CUSMA in Canada, is now heading to President Trump's desk. The deal was signed trilaterally by the three parties involved on December 10 2019, and subsequently approved by the...
The ECB meeting next week is set to focus on the strategic review and not on new policy messages. Media reported that ECB governing council members received documents concerning the strategic review, which will officially be launched next...
U.S. Review
2020 Is Off to a Good Start
Most of this week's economic reports showed the economy ended 2019 with strong momentum, while the Senate passage of the USMCA and the signing of Phase I of the China trade...
U.S. Highlights
Data releases over the week reinforce the main themes in the U.S. economy: solid consumption, housing market recovery, faltering business investment and soft inflation.
The phase one trade deal was formally signed, committing China to increase its...
The Bank of Canada held interest rates steady throughout 2019 and is widely expected to do so again at its first meeting in 2020. While a run of soft economic data toward the end of last year suggests a...
The World Economic Forum in Davos usually provides ample headlines for the oil industry, but this year one strategic player will be absent. Russia’s president Vladimir Putin plans on staying at home to see through a constitutional shake-up he...
Risk sentiment generally stayed on a strong footing this week as investors heaved a sigh of relief after the US-China phase one trade deal was finally signed . While the bulk of the deal was already known, we learned...
It’s going to be an action-packed week, with three major central bank meetings and a storm of economic data likely to keep traders glued to their screens. The European Central Bank is unlikely to signal anything radical, so the...
On January 15th, the U.S. and China signed phase one of a trade deal. The deal removes the threat of additional U.S. tariffs and cuts the existing tariff rate on over $110 billion in Chinese goods in half...
Dollar strengthens broadly today but upside is somewhat limited by mixed US economic data. Canadian Dollar is following as the second strongest as oil prices recover mildly. On the other hand, both Swiss Franc and Euro are paring some...
US housing starts jumped 16.9% mom to 1.61m annualized rate in December, well above expectation of 1.38m. That's the largest percentage gain since October 2016. Building permits dropped -3.9% mom to 1.42m, below expectation of 1.47m.
Industrial production dropped -0.3%...
St. Louis Fed President James Bullard indicated he's comfortable to wait for the impacts of the three rate cuts last year before deciding the next month on interest rates. He told Reuters, "we eased substantially in 2019" and, "we...
Eurozone CPI was finalized at 1.3% yoy in December, up from November's 1.0% yoy. the highest contribution to the annual euro area inflation rate came from services (+0.80%), followed by food, alcohol & tobacco (+0.38%), non-energy industrial goods (+0.12%)...
UK retail sales contracted sharply in December. Headline sales dropped -0.8% mom versus expectation of 0.8% rise. Ex-fuel sales dropped -0.6% mom versus expectation of 0.5% rise. "Anecdotal evidence from a number of stores stated that goods did not...
NZDJPY restored positive momentum after diving as low as 71.22 last week and is now approaching the 73.51 top registered in late-December.
The upward-sloping RSI is endorsing the positive move, but some caution could be justified as the Stochastics have...
Brent futures bounced off the short-term ascending trend line on Wednesday, failing to extend the downward move. Currently, the commodity is trying to overcome the 40-day simple moving average (SMA) and the 64.85 resistance level. The RSI turned higher...
UK data this week has been dismal. UK retail sales was the latest release to disappoint:
MoM -0.6% vs +0.6% exp.
YoY +0.9% vs 2.9% exp.
Expectations were running high for December retail sales as the data included black Friday...
The Dax is at a key level and might break the resistance on the weekly chart of 13600.85 (GER30).
This is a key level as of course compared to its US counterparts it has been lagging somewhat on that front...
USDCAD is retreating below the 50- period simple moving average (SMA) in the four-hour chart which nicely kept the bears under control on Thursday.
Technically the pair could perform neutral to negative in the short-term as the RSI is slipping...
GBPJPY is trading sideways over the last month, struggling within the 50.0% Fibonacci retracement level of the downleg from 147.95 to 140.80 near 144.40 and the 141.10 support level. However, looking at the very short-term timeframe the pair rebounded...