Market News

Good morning, Yesterday’s Bank of Canada meeting rallied the Canadian Dollar against USD as the BoC kept rates unchanged.The Bank did not deliver a widely expected Dovish statement, predicting lower rates, which prompted the shift in sentiment. The surge in CAD continued overnight and into this morning posting a new one month high against USD.

Positive sentiment yesterday surrounding a trade agreement and comments from the U.S. looking for a more stable Yuan pushed the dollar index lower with this move continuing in overseas markets.  The USD/CAD 1.3180 Jan 9 low is being sticky with 1.3152, the 200 day moving average, waiting below to support. Recent forays of a close

Equity markets are in positive territory and risk is on a firmer footing as U.S. Congress appears to have avoided a shutdown with a tentative deal for partial funding of border security.  Nothing is written in stone just yet as we await an official announcement.  There is also hope that both the Chinese & the

Global equities are trading on a firmer note this morning with oil rebounding and the dollar index sliding lower as market participants remain indecisive resulting in general consolidation from recent volatility.  The BoJ did not change rates and there has been little news overnight dulling the collective senses of the market. USD/CAD effectively reached the

Global equities are in the red as the recovery that began in 2019 is losing slowly steam. This by no means indicates the sell off seen at the end of 2018 will take grip once again but the market seems to be pausing to reassess after a tumultuous month or so of activity.  Oil is

All eyes are on the UK’s Brexit vote in Parliament which is expected to begin around 2PM EST & being hailed as “one of the biggest days in political history for the UK in 300 years.” The vote is expected to fail which is likely to result in a Labour Party backed no-confidence vote Wednesday

Very quiet session in Asia overnight after yesterday’s active North American session where the market’s perceived FED minutes to be dovish and sold the USD across the board.  FED Chair Powell is due to speak this afternoon at the Economic Club of Washington DC which may sustain pressure on the USD today. Expectations for a

The reversal of moves in all asset classes that occurred in December continues with participants believing 2019 looks rosy and a Sino/American trade agreement is imminent.  This is hardly the case but negative exuberance has been replaced with positive exuberance as market participants appear to have the insight and restraint level of a teenager.  A

FED expected to hike today with most updated analyst consensus higher going into the meeting at a 78.4% chance that Chairman Powell will announce a further .25% increase to the overnight lending rate to 2.5%. USDCAD simmering down from yesterday’s peak at 1.3496 last recorded June 12 2017. The FED is expected to accompany the

Global equities are flat to lower after yesterday’s 500+ point drop in the DOW and the S&P closing at its lowest levels in 18 months.  Oil has shed another 2.4% from yesterday’s close after having been down as much as 4% in overnight markets.  Oddly the USD is flat to lower against most G7 currencies