Market News

Yesterday’s announcement that the White House is taking aim at China’s unfair seizure of US intellectual property saw the U.S. level tariffs of $50-60 billion on Chinese imports sending equity markets plummeting on fears of a global trade war.  The U.S. dollar is mixed as China has so far shown a modest response leveling only

The dollar sold off quite hard after the FOMC raised interest rates by a quarter percentage point as the market deemed FED comments to be more dovish than anticipated leaving room for doubt about future hikes in 2018.  While there are still 2 hikes priced in for the remainder of the year the cautious tone

NAFTA headlines stating the U.S. has dropped its contentious auto content proposal has pushed USD/CAD back down to the 1.3000 pivot point in overnight trading with North American traders yet to react as this news came out after-hours.  With an FOMC rate hike expected today at 2PM EST this may be a confounding and volatile

Markets have been relatively quiet overnight and will likely remain so until tomorrow afternoon’s FOMC rate announcement takes place at 2 PM EST.  UK inflation data came out roughly as expected having little to no effect on the Pound while nothing earth shattering has emanated out of the G20 meetings being held in Argentina.  With

The British Pound has been the big mover to start the week as UK negotiators have reached a deal with the European Commission on the terms for the Brexit transition.  This has seen Sterling gain 1.25%+ against G7 counterparts.  There are also G20 meetings for the first two days of the week but all eyes

The dollar index is marginally higher with most G7 currencies losing ground against the U.S. dollar ahead of CPI data this morning at 8:30 AM EST.  Expectations are for a 0.2% rise month over month with a higher print sparking visions of a rate hike coming from the FED next week.  The fear in the

It’s been a quiet start to the week after Friday’s strong U.S. employment data pushed the dollar index back above 90.00 with confusion surrounding proposed U.S. tariffs still keeping the markets on edge.  Turning to events to watch this week we have U.S. inflation data tomorrow along with retail sales figures Wednesday rounded out by

Another volatile day after a cautious BoC, citing trade concerns, left rates unchanged which popped us to the brink of 1.3000 for the second time in as many days.  Within a few hours we dropped to 1.2870 on comments out of Washington suggesting that Canada and Mexico might escape new tariffs on steel and aluminum.

North American equities are slated for a negative open and the NAFTA currencies (CAD,MXN) took it on the chin when White House Chief Economic Advisor Gary Cohn resigned after market close last night.  Just when it looked like the Canadian dollar would get a reprieve it was slammed by this unexpected departure of the “pro

The dollar index has dropped since the NY close yesterday as players that have been long USD are ringing the till with the realization that Congressional approval is required for tariffs to be finalized and a growing number of GOP members voicing concern & outright disapproval of their Administration’s plans.  Adding to this are reports