Market News

Wednesday May 15, 2024 In the foreign exchange market, the US dollar (USD) is showing mixed strength against major currencies, with cautious trading in stocks before the US inflation data release. Bond markets are slightly firmer, while commodities like crude oil and iron ore are down but copper is up. Currency movements are limited, with

Good morning, Oil prices collapsed over the weekend recording a low of 27.34 per barrel representing the lowest price since the ‘91 gulf war. The collapse was due to no agreement between Russia and Saudi Arabia to curtail production. Today WTI prices have recovered some losses at 33.7.  Wall street and Bay Street has experienced

Good morning, Today’s employment data from both sides of the border exceeded predictions. The nonfarm payroll print for the month of February reported 273K from an estimate of 175K. The US unemployment rate is has ticked back down to 3.5K and average hourly earnings are in line with expectations at 3%. Canada reported a net

Good morning, After yesterday’s surprise FED rate cut of 50 bps, marking the first emergency rate cut since 2008 by the FED the BoC has followed suite with there own stimulus measure. The Bank of Canada has also cut its benchmark rate by 50 bps, citing that the BoC is “ready to adjust monetary policy

Good morning, In an emergency measure the FED has just cut its benchmark interest rate by .5% from 1.75% to 1.25%. The unexpected move thus far has had little effect on the market as the move was unexpected and well ahead of the FED’s March 18 interest rate announcement. The move is still taking time

Good morning, USD is up over 104 basis points intraday or .78% respectively from yesterday’s low as covid-19 fears have continued to punish markets and the global stock selloff resumes its eight day in a row. The Dow index has reacted by dropping over 10% from it’s Feb 12 all time high. WTI for next

Good morning, The USDCAD pair is hovering near a new one month low after paring gains from yesterday’s session. The loonie has gained strength on the heels of higher commodity prices from coronavirus fears. WTI for next month’s delivery has hit over 54 / barrel also representing a new one month high. The flight to

Good morning, The US dollar is consolidating lower against CAD after USDCAD posted it’s greatest gain on Monday since Oct 19 2019. The lead up to the higher dollar was mainly dictated by safe haven trading amid slower global growth linked to virus concerns. Today sees major North American stock indexes up along with a

Good morning, US non-farm payroll exceeded the 160K expectation with an impressive 225K print. Canada’s net change in employment came in at 34.5K from 15K expected. A quick analysis of the data on both sides of the border reveals that the market was expecting the NFP figure to exceed, especially after the ADP private payroll

Good morning, China has cut the tariff rate on US imports by 50% on over 75B of goods to boost confidence and spur trade amid virus concerns. Oil rebounded to over 50 a barrel for the second day straight today after hitting a two month low on Tuesday of 49.23. Support in the oil price