Chinese Markets Unmoved By This Morning’s Price Data
Chinese Markets Unmoved By This Morning’s Price Data US weekly jobless claims, of all things, was responsible for yesterday’s main market move. Applications rose from 233k to 261k, more than the 235k expected. It triggered a US bond rally which dragged European peers higher as well. While it doesn’t change expectations for a pause at next week’s Fed meeting, it did offer a bit of contrast following the Bank of Canada and the Reserve Bank […]
USD/CAD at Risk on Hawkish BoC but Fed May Be a Spoiler
USD/CAD at Risk on Hawkish BoC but Fed May Be a Spoiler The Canadian dollar has appreciated sharply against the U.S. dollar since late May. The chart below shows how USD/CAD has fallen more than 2.0% over the past two weeks, with the pair now trading near C$1.3350 and steadily approaching its 2023 lows. Bank of Canada’s surprising decision to raise interest rates at its June meeting after pausing its hiking campaign in January has […]