Author: FX

Fed officials flip-flop, NATO-Russia tensions escalate, Trump announced news tariffs, all leading to a strong week for USD while Comdolls sank. Source link

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It was a back-and-forth day for US equities. The market liked what it saw in the US PCE report and that initially kicked off a rally but midway through trading it was erased. Later in the day, the bulls regrouped for a strong close. Tesla, Intel and Boeing were among the winners.The gains weren’t enough to erased the losses from the rest of the week but they blunted the decline which wasn’t bad given that the market priced out about 12 bps of easing in the year ahead.On the day:S&P 500 +0.6%Nasdaq Comp +0.4%DJIA +0.7%Russell 2000 +0.8%Toronto TSX Comp +0.1%On…

The Canadian Dollar clamped down on bearish momentum on Friday.Despite cooling downside momentum, the Loonie still tapped 18-week lows against the US Dollar.The Canadian Dollar is now on the weak side of key moving averages against the Greenback.The Canadian Dollar (CAD) slowed its pace of losses against the US Dollar (USD) on Friday, but still remains firmly on the low side, testing 18-week intraday lows before battling back against the tide of Greenback pressure to cap off a week of sustained losses.Canadian Gross Domestic Product (GDP) growth rebounded in July, helping to provide some thin support for the Loonie on…

Last Friday I wrote about new Fed Governor Stephen Miran and his argument for cutting rates by 150 basis points before year end.The crux of it was that Trump’s immigration policy changes would “exert quite a lot of disinflation” by lowering the price of houses and rents. He also cited 1.5 million migrants leaving the country, which is on the extreme end of any reasonable estimates.In any case, when he laid out his broader argument, he cited a research paper that used a sudden surge in Cuban immigrants to Miami 45 years ago. The idea was that a flow of…

WTI crude oil prices are up 0.70 cents and they have been bid all week, in part because of reports suggesting that Russia is losing oil exporting capacity due to drone attacks.The Kremlin could have much bigger problems ahead if this latest WSJ report is true:President Trump told Ukrainian President Volodymyr Zelensky he was open to lifting restrictions on Ukraine’s use of American-made long-range weapons to strike inside Russia, but he didn’t commit to doing so during a meeting Tuesday, according to a senior U.S. official and a Ukrainian official.During the sideline discussion at the United Nations, Zelensky asked Trump…

Shares of Electronic Arts ($EA) were quickly halted after a report in the Wall Street Journal suggesting the company could be taken private.Electronic Arts is one of the big dogs in gaming, best known for its sports franchises like FIFA (now EA Sports FC) and Madden, alongside hits like Apex Legends, Battlefield, and The Sims. The business is split between live services — where the real money is, thanks to microtransactions, downloadable content, and in-game cosmetics — and full-game sales.They’ve built a steady cash machine on annualized sports titles and recurring revenue from Ultimate Team modes, which are essentially digital…

Australian Dollar regains ground as the US Dollar softens after in-line PCE data and weaker consumer sentiment.Focus turns to the RBA’s monetary policy decision on Tuesday, with markets expecting rates to stay unchanged at 3.60%.US labor market data back in focus with NFP due on Friday.The Australian Dollar (AUD) gains ground on Friday as the US Dollar (USD) loses momentum after Personal Consumption Expenditures (PCE) inflation figures came broadly in line with forecasts, while weaker consumer sentiment and renewed tariff worries dampened demand for the Greenback.At the time of writing, AUD/USD is trading around 0.6550, recovering modestly after a sharp…

The Dow Jones rebounded over 350 points on Friday, climbing back above 46,000.Fed rate cut expectations are still on track after PCE inflation met market forecasts.Despite a coolish print, inflation continues to hold on the wrong side of the Fed’s 2% annual target.The Dow Jones Industrial Average (DJIA) rebounded on Friday, paring away the midweek’s losses and recovering footing as investors self-soothe over odds of a follow-up interest rate cut in October. US Personal Consumption Expenditures Price Index (PCE) inflation came in about where median market forecasts predicted, keeping market hopes for an October rate trim on the high side.Inflation…

STAAR Surgical Company (NASDAQ:STAA) said in a presentation today that its $28.00 per share all-cash merger with Alcon provides its stockholders compelling, certain, cash value at a significant premium across multiple measures. It represents a 51% premium to STAAR’s closing stock Source link