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USD/CAD – Loonie Decouples from Oil Price Fall

The loonie was not dragged down by a tumble in oil prices and managed to eke out gains after the Canadian and U.S. bond yield spreads narrowed due to the softness of the big dollar. The USD was being sold off in exchange for investors looking for safety and headed into EUR, CHF and JPY. […]

USD/CAD – Loonie Slightly Lower After Oil Drop

The USD was under pressure at the start of the week, but the CAD was not of the currencies that capitalized on the big dollar’s pain. Commodity prices tumbled and with that any hopes of loonie gains. Safe haven trades such as EUR, JPY and gold advanced against the USD. The CAD got a temporary […]

FX Markets Continue To Debate FOMC’s Policy Trajectory

Jan-worst opening month for global equities in 7-years Feb 3-worst day for the dollar in 7-years Recent dollar move would usually be associated with a Fed policy move Is the market pricing in a policy error by Fed? Last week saw the ‘buck’s’ biggest weekly decline against the dollar index in seven-years (-3%). Even U.S […]

5 Things The Markets Are Talking About

Credit Suisse shares plunge, oil’s wild ride and it’s Bank of England decision day. Here are some of the things people in markets are talking about today. 1. Credit Suisse plunge Shares in Credit Suisse Group AG dropped to their lowest level since 1991 after the bank posted a loss of 5.8 billion Swiss francs […]

Great Unwind-‘Long’ Dollar Positions Recalibrate

The mighty dollar has been the darling of the forex market for 18-months now, mostly on rate differentials. But has the Fed got it right? So far this year, and after the first Fed rate hike in nine-years last December, the U.S fixed income market continues to price in a Fed policy error. Dealers see […]

USD/CAD – Loonie Rises as US Data Takes Down USD

Disappointing Data Questions Fed Decision to Hike as USD Tumbles The loonie is rising today thanks in no small part to two factors. The softer ISM Non-manufacturing data has slowed down and missed expectations at 53.5. The price of oil continues to rise as Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC are teasing […]

5 Things The Markets Are Talking About

Stocks are down, euro area PMIs drop and China’s new growth target. Here are some of the things people in markets are talking about today. 1. Stocks are down Markets in Asia dropped overnight with Japan’s Nikkei 225 Stock Average closing 3.2 percent lower after Nomura Holdings Inc.’s earnings disappointed. In Europe, the Stoxx 600 […]

5 Things The Market Is Talking About

Cruz and Clinton triumph in Iowa, BP profits plunge and euro area unemployment falls. Here are some of the things people in markets are talking about today. 1. Iowa Hillary Clinton emerged victorious in the closest ever Iowa Democratic caucus, with her 49.9 percent to Bernie Sander’s 49.5 percent enough to ensure a win even […]

US Crude Dips as US, Chinese Mfg. Numbers Falter

US crude has started the new trading week with losses, as March futures are trading at $31.88 a barrel in the North American session. Brent crude futures are currently trading at $34.68 per barrel. In economic news, ISM Manufacturing PMI dipped to 48.2 points, and Chinese manufacturing reports also pointed to contraction. Elsewhere, US Core PCE […]

February Is An “Air Pocket” For Central Bankers

Feds normalization path complicated by the actions of other CB’s Saudis deny report of coordinated output cut Investors will have to go it alone this month. Despite February being the shortest calendar month of the year it could feel a rather long one with no directional guide from any of the major central bankers (the […]

5 Things That The Market Is Talking About

The Bank of Japan goes negative, stocks go positive and tons of U.S. data is coming out. Here are some of the things people in markets are talking about today. 1. BOJ goes negative In a surprise move, the Bank of Japan announced that it is adopting a negative interest-rate strategy while maintaining the pace […]

Oil Proxy CAD Gets A Lift On Russian Comments

Crude market caught short after Russian comments Loonie breaks psychological C$1.40 handle with ease Russian oil minister Novak is crossing on the wires and discussing the proposed OPEC/Non-OPEC meeting. He said Russia is ready to meet in any format. He clarified that the meeting is meant for energy ministers and that no firm agreement have […]

USD/CAD Loonie Stable After Dovish FOMC Statement

The U.S. Federal Reserve release its statement after January’s Federal Open Market Committee (FOMC) meeting in Washington. As the market had anticipated there was no change to the benchmark interest rate which remains at 0.50 percent. Since there was no press conference scheduled at after the release of the statement, the document was going to […]

Oil remains the dominant theme as prices fall back below $30

It’s the same story, but a different day. The direction of crude oil prices continues to drive capital markets. The black stuff is on the cusp of relinquishing the latter half of last week’s gains ahead of tomorrow’s Federal Open Market Committee (FOMC) announcement and crude oil inventories report (WTI-$29.80, Brent $29.90). Market risk aversion […]

5 Things The Markets Are Talking About

Chinese stocks get slammed, safe havens rally, and Apple is due to report earnings. Here are some of the things people in markets are talking about today. 1. China stocks slammed The Shanghai Composite Index plunged 6.4 percent to 2,749.79 at the close. Huang Weimin, a hedge fund manager whose Chinese stock-index futures wagers returned […]

$30 Oil is Above Breakeven for Russia

Senior OPEC and Russian oil industry officials stepped up vague talk on Monday of possible joint action to remedy one of the worst supply gluts in decades, while Saudi Arabia signaled its resolve to allow the market to balance itself. The latest volley of comments highlighted the intensifying pressure of $30 a barrel oil prices […]

Fed: What to Do Or Say?

A Federal Open Market Committee (FOMC) rate announcement would usually be the highlight of any week. But this go around, it’s looking to play second fiddle to the Bank of Japan (BoJ). The Fed is expected to stand pat come Wednesday, while the BoJ decision on Friday may announce another round of monetary stimulus. With […]

Saudi Arabia Says $30 Oil Is ‘Irrational’

Saudi Arabia has described the collapse in oil prices to below $30 as “irrational” and expects the market to recover in 2016 even as the country continues to keep production high. Khalid al-Falih, chairman of state oil company Saudi Aramco, told the World Economic Forum in Davosthat current prices would not last, with many smaller […]

USD/CAD Loonie Surges After Oil Recovers on Demand Optimism

Central bank rhetoric and cold weather boosted crude prices benefiting the CAD The loonie will finish the week of January 25 on a strong note versus major pairs. Boosted by the recovery of oil prices and stronger than expected economic indicators the Canadian currency advanced close to 1 percent versus the U.S. dollar.The USD/CAD depreciated […]

Saudia Arabia Does Not Blink Will Not Cut Oil Production

If you are waiting for Saudi Arabia to save the oil market, don’t hold your breath. The country will not cut production and give up its market share in order to prop up prices, the chairman of Saudi Aramco said at the World Economic Forum in Davos “We are not going to accept to withdraw […]

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