Market News

Busy day ahead with OPEC announcements expected & dual U.S./Canadian employment data due to be released at 8:30 AM EST.  USD/CAD has been whippy within a tight range as rumours of an OPEC agreement come out and get denied causing gaps of 20-30 points within seconds.  I will try to update you again after the

Even though the market had begun pricing out the January hike USD/CAD moved aggressively higher when the BoC struck a dovish tone with many now looking towards April as a “live” date.  Poloz speaks this morning at 8 35 a.m.  on “Economic Progress Report and financial stability” as CAD continues to weaken amidst a negative

Yesterday’s U.S. stock market rout saw a flight from risk resulting in a shift away from riskier assets & a stronger U.S. dollar.  Concerns over a China U.S. trade War truce emerged quickly and were exasperated by those looking to hedge ahead of today’s Day of Mourning for President Bush as equity & bond markets

The dollar index (DXY) is lower led by a stronger Yen as U.S. 10yr Treasury yields drop to their lowest level in 3 months on dovish FED concerns.  Global equities are in negative territory and oil is clinging to recent gains as markets await confirmation from OPEC regarding production cuts.  With little on the docket

Powell’s near neutral comments last week coupled with a Trump Xi ceasefire at the G20 over the weekend has risk rallying with equities and oil noticeably higher. This exuberance will still need to be carried by positive data going forward and it remains to be seen whether or not this Trump XI dance continues. FED

Another quiet overnight session as the market awaits the G-20 & specifically any movement on Sino – U.S. trade relations.  As such the dollar index and most other asset classes are treading water within the week’s ranges. Canadian GDP is due out at 8:30 AM EST and is expected to print a month over month

FED Chairman Powell caught markets by surprise yesterday with comments that were perceived to be more dovish regarding rate policy. This turned all asset classes on a dime resulting in a risk rally pushing equities higher while the DXY & U.S 10 year rates both tumbled.  Overseas players have not pushed any of these markets

Yesterday’s Fedspeak remained neutral to mildly dovish but was outweighed by U.S. Presidential comments stating more tariffs on China could come if talks between the two countries do not go well from a U.S. perspective.  This resulted in a stronger U.S. dollar and a move towards risk aversion with moderately lower equities.  Overnight action has

It’s all about the FED today with focus on Clarida who is due to speak about data dependence and monetary policy at The Clearing House and Bank Policy Institute’s Annual Conference in New York at 8:30 AM EST.  His previous comments were unexpectedly dovish and lead the market to scale back FOMC rate hike prospects

Global equities are in positive territory to start the week after the extended U.S. holiday saw lighter than normal flows and subdued trading in all asset classes.  This week sees a great deal of central bank activity with speeches from heads of the ECB, Bank of England, RBNZ & the FED while the RBNZ &