Author: FX

Canada’s Q3 GDP delivered a major upside surprise, lifting CAD and raising the bar for BoC easing. Markets now see USD/CAD capped near 1.41 with potential toward 1.38 by year-end, TDS’ analysts note. USD/CAD seen capped at 1.41, targeting 1.38″Q3 GDP surprised sharply to the upside with a 2.6% q/q annualized gain, well above expectations for a muted rebound from Q2 (TD/market: +0.5%). Not all details were as upbeat with domestic demand down 0.1%, but historical revisions did also produce a positive level shock to 2024Q4.””Industry-level GDP rose by 0.2% m/m in September to match expectations, as upward revisions translated…

The major US indices are trading higher in the shortened trading day today. The major indices will close at 1 PM ET.The gains of modest with the S&P up 0.24%, the Dow industrial average up 0.29%, and the NASDAQ index up 0.32%. Each of the major indices have been higher for 4 consecutive days. Can they make it 5?Meta shares are up 1.17%Nvidia shares are down -1.04%. Microsoft is higher by 1.23%, Alphabet is unchanged. Amazon is up 1.19% as hopes for Black Friday sales propelled it. Broadcom is up 0.94% and chipping away at the -1.84% decline for the…

Market Overview and Sector DynamicsThe U.S. stock market painted a mixed picture today, with notable gains in select technology and consumer cyclical stocks, alongside pockets of decline within key sectors. Overall sentiment remains cautious but optimistic, with investors digesting the latest economic indicators and earnings reports.📈 Technology Sector: Mixed ResultsGoogle (GOOGL) Surges: Google emerged as a standout performer, climbing 1.24%, reflecting sustained investor enthusiasm in the internet content segment.Intel (INTC) Leads Semiconductors: In an impressive gain, Intel shot up by 4.42%, spotlighting renewed interest in semiconductor infrastructure, while Nvidia (NVDA) slipped by 0.83%, suggesting investor hesitancy around certain high-growth areas.Oracle…

The USDCHF is experiencing choppy two-way price action today as buyers and sellers fight for control. On the topside, the rally stalled inside a key swing zone between 0.8066 and 0.8076. The high reached 0.8071 before rotating lower, reinforcing the importance of that resistance area. A break above it is required to shift momentum and give buyers greater control. Until that happens, sellers remain very much “in play.”On the downside, focus is on the 100-bar MA on the 4-hour chart and the 61.8% retracement of the October downswing, both clustering near 0.8027. That zone needs to be broken—and held below—…

Canada GDP came in much stronger 2.6% versus 0.5% expected. According to StatCan “the rise in the third quarter was driven by a strengthening trade balance, as imports dropped and exports edged up. Increased capital investment was driven by government capital spending, as business investment was flat. Overall growth was dampened by declines in household and government final consumption expenditures as well as a slower accumulation of business inventory.”It is an interesting development which may have economist looking more closely at the flow of goods into the country. I can see Canada shunning American goods in reaction to tariffs on…

Silver is approaching its record high, with Gold also rising, as markets price in further interest rate cuts and declining inventories in China boost momentum, Commerzbank’s commodity analyst Barbara Lambrecht notes. Silver nears all-time high amid rate-cut optimism “Precious metal prices have also risen recently, driven by significantly increased expectations for interest rate cuts. While Gold remains more than $200 — or roughly 5% — below its record high, Silver is already within striking distance: At close to $54 per ounce, it is nearly back to its all-time high from mid-October.” “The Gold/Silver ratio has fallen to a new yearly…

Prior -1.6% (revised to -1.8%)GDP Q3 Q/Q +0.6% vs -0.4% prior (revised to -0.5%)GDP for September M/M +0.2% vs +0.2% expectedPrior -0.3% (-0.1%)GPD for October preliminary -0.3% This is a huge surprise for Canadian GDP. The BoC projected +0.5%, so this blows it out of the water (although it was mainly driven by a big fall in imports). The central bank can comfortably sit back and not even thinking about cutting rates further. StatCan said: “the rise in the third quarter was driven by a strengthening trade balance, as imports dropped and exports edged up. Increased capital investment was driven…

Inflation perceptions over the previous 12 months seen at 3.1% (unchanged)Inflation expectations 12 months ahead seen at 2.8% (previously 2.7%)The qualitative measure continues to show an increase in the percentage of number of respondents expecting inflation to be higher in the next 12 months, now seen at 85.6% (previously 85.2%). As for the 2.8% median noted above and in the chart below, that’s the same as per August and the highest since May. This article was written by Justin Low at investinglive.com. Source link

The Euro is showing a mild positive tone against the British Pound on a calm trading session on Friday, yet with bulls struggling to find acceptance above a previous support, now turned resistance, in the area between 0.8765 and 0.8770.A batch of Eurozone releases has not been particularly supportive of the Euro on Friday. German Retail Sales declined 0.3% in October, against expectations of a 0.2% increase, while import prices contracted at a 1.4% year-on-year pace, less than the -1.6% expected, which has eased the negative impact on the Euro.In France, the GDP confirmed the preliminary estimations of a 0.5%…

EUR/GBP has pulled back down to a MAJOR area of interest! Are we looking at the best place to jump into EUR/GBP’s longer-term uptrend? We’re checkin’ out the 4-hour time frame: EUR/GBP 4-hour Forex Chart by TradingView Improved risk sentiment and a bit of profit-taking after the anticipated U.K. Autumn Budget release pushed traders back into the British pound over the last few days. The euro, meanwhile, is having a tougher time holding its ground. Risk-taking flows seem to be sliding toward the “riskier” currencies, and a run of mixed mid-tier Euro Area data is not giving EUR much help.…