Author: FX
Data released on Friday, showed the Canadian economy expanded 0.1% in October. Analysts at CIBC point out the upward revision to September and the modest growth in October/November leaves Q4 GDP tracking between 1% and 1.5%, which is above the Bank of Canada’s October Monetary Policy Report forecast of 0.5%. Key Quotes: “Statistics Canada provided a small dose of Christmas cheer, with news that the Canadian economy continued to grow (albeit only modestly) at the start of the fourth quarter. Combined with a slight upward revision to September, today’s data leave Q4 as a whole tracking around 1.3%. That’s above…
WisdomTree Dynamic Currency Hedged International Equity Fund declares quarterly distribution of $0.1710 Source link
According to analysts from Rabobank, the Brazilian Real is suffering from fiscal developments after the presidential elections. They still think the USD/BRL will be traded at 5.30 by end-2022 and by end-2023. Key Quotes: “We still see the USDBRL at 5.30 by end-2022 and by end-2023. We still see the USDBRL at 5.30 by end-2022 and by end-2023.” “The US dollar has recently seen huge swings in tandem with the Fed’s views on the US economy, dragging commodity currencies like the BRL along with it, while other advanced economies’ central banks struggle to keep up with the Fed’s hiking cycle.…
Japanese Yen is among the worst performers weakened by higher US yields. Dollar posts mixed results after US data. USD/JPY up on Friday, and down for the week. The USD/JPY broke above 132.80 and climbed to 133.15, reaching the highest level since Tuesday. US Treasury yields rose following several economic reports from the US and weighed on the Japanese Yen. US data: more positives than negatives The key report from the US was the Core Personal Consumption Expenditure Price Index which rose 0.2% in November, in line with expectations, and 4.7% from a year ago, a decline from the 5%…
Russia announced it might cut oil output early in January. US markets are due to close earlier on Friday amid the Christmas holidays. WTI retreated modestly after reaching a fresh monthly high. Crude oil prices are up on Friday, with the West Texas Intermediate (WTI) barrel nearing $80.00. Oil surges despite the soft tone of equities and US Dollar strength, helped by news coming from Russia, as Deputy PM Alexander Novak said that, due to the price cap, gas flows might be diverted from the EU to Asia. Additionally, he noted that Russia may cut oil output by 5%-7% in…
New Home Sales in the US unexpectedly increased in November. US Dollar Index stays in daily range above 104.00. Sales of new single‐family houses rose by 5.8% in November to a seasonally adjusted annual rate of 640,000, the data published jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Friday. This reading followed October’s increase of 8.2% and came in much better than the market expectation for a contraction of 4.7%. Market reaction This report doesn’t seem to be having a significant impact on the US Dollar’s performance against its major rivals. As…
Mexican Peso accelerates the upside versus US Dollar after breaking key technical level. US data in line with expectations, Mexican activity stagnates in October. The USD/MXN broke under 19.50 and quickly fell further hitting 19.40, for the first time since December 5. The pair remains near the low, under pressure as the US Dollar posts mixed results on Friday. Economic data from the US showed the Core Personal Consumption Expenditure Price Index rose 0.2% in November, in line with expectations. A different report showed Durable Goods Orders dropped 2.1%, against expectation of a 0.6% slide. The numbers did not have…
© Reuters. FILE PHOTO: Former mayor of New York Michael Bloomberg speaks with participants prior to a meeting with Earthshot prize winners and finalists at the Glasgow Science Center during the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, Nove (Reuters) – Billionaire Michael Bloomberg, the owner of Bloomberg News, is interested in acquiring either Wall Street Journal parent Dow Jones or the Washington Post, Axios reported on Friday, citing a source familiar with the matter. Axios, citing the source, said Bloomberg would be interested in a potential acquisition of either companies, but Dow Jones would be a stronger…
US PCE inflation eased as anticipated in November, Durable Goods Orders disappointed. GBP/USD is struggling to retain the 1.2000 mark as US Dollar demand increases. US Dollar demand increases ahead of the long weekend. Following a short-lived slide to 1.2022, a fresh daily low, GBP/USD trimmed losses and flirted with daily highs. It currently trades in the 1.2040 price zone as speculative interest is still digesting mixed United States macroeconomic figures. On the one hand, the Personal Consumption Expenditures (PCE) Price Index rose by 5.5% YoY in November from 6.1% in October, further indicating easing inflationary pressures in the country. On…
Canadian economy expanded by 0.1% in October as expected. USD/CAD continues to trade in negative territory near 1.3600. Real Gross Domestic Product of Canada grew by 0.1% on a monthly basis in October, Statistics Canada reported on Friday. This reading followed September’s 0.2% growth and came in line with the market expectation. “Advance information indicates that real GDP increased 0.1% in November,” Statistics Canada added in its publication. “Increases in the utilities, wholesale, and finance and insurance sectors were partially offset by decreases in the construction, retail, and mining, quarrying, and oil and gas extraction sectors.” Market reaction USD/CAD showed…