FX

Previewing the Bank of Canada’s (BoC) policy meeting, TD Securities analysts said that they expect the bank to reduce its government of Canada (GoC) bond purchases from $4 billion per week to $3 billion per week, as reported by Reuters. Key quotes “In light of the much stronger than expected economic data over the last quarter,

Equity markets continue to set new highs as macro data supports bulls. Refinitiv data shows money market fund redemptions but still inflows to equities. Earnings season switches from bank stocks to reopening plays. Stay up to speed with hot stocks’ news! Equity markets continue to remain bolstered from all sides as the macro environment produces

Gold has been extending its gains, benefiting from the persistent drop in US Treasury yields. Returns on ten-year US debt has remained below 1.60%, making the yieldless precious metal more attractive. Moreover, it seems that the XAU/USD bulls are lifting their heads, with fresh interest.  How is gold positioned on the technical charts? The Technical Confluences Detector is

NZD/USD pauses a two-day winning streak in the Asain session. Mixed Chinese data points to concerns on the pace of economic growth. A bounce in the US dollar drags the pair in the corrective mode. After posting solid gains in the last two sessions, the NZD/USD pair seems to halt its upside momentum. The pair

Update: Bank stocks continue to be boosted by strong earnings as Bank of America and Citigroup beat the street. But in a case of buy the rumour sell the fact both stocks and the financial sector are actually down on Thursday. Tech rallies back having taken a breather on Wednesday. Strong retail sales data supports

AUD/USD fails to keep Aussie employment-led gains amid risk-negative headlines concerning China. S&P 500 Futures ease from record top, US dollar bounces off three-week low. US Retail Sales, risk catalysts will be the key. AUD/USD holds lower ground near the intraday low of 0.7718 during its latest pullback moves on early Thursday. In doing so,

Crude Oil Stocks Change in the US was -5.9 million barrels in the week ending April 9, the weekly report published by the US Energy Information Administration (EIA) revealed on Wednesday. Analysts’ estimate was for a draw of 2.9 million barrels. Market reaction The barrel of West Texas Intermediate (WTI) continued to push higher after this

USD/CAD eases from intraday high while keeping the bounce off short-term support line. 100, 200-SMA confluence and a falling trend line from March 30 test the bulls. Monthly bottom adds to the downside filters, extended consolidation more likely. USD/CAD steps back from the day’s high of 1.2547 to 1.2541 amid early Wednesday. Even so, the

Finally, the Nasdaq catches up with the broader market indices and posts a new record high. At the time of writing the Nasdaq is trading at 13,946 breaking the previous high of 13,879 from way back on February 16! Nasdaq technical levels Once the market broke and stayed above the upper channel resistance at 13,319 a

In the view of the analysts at Goldman Sachs, USD/JPY is likely to drop amid a rebound expected in the yen and Fed rate hike bets pushed back. Key quotes “In the medium-term USD/JPY may rise, due to boosts from the vaccine surge in growth and inflation.” “But then heads lower as aggressive Fed hike

EUR/USD leaves behind the negative start and retakes 1.19. The dollar loses the grip and drops to session lows. EMU’s Retail Sales expanded 3.0% MoM in February. The single currency faded the initial offered bias and regains composure, lifting EUR/USD back above the 1.19 mark at the beginning of the week. EUR/USD focused on US

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Toward the end of trading Friday, the Dow traded up 0.42% to 33,645.90 while the NASDAQ rose 0.06% to 13,837.33. The S&P also rose, gaining 0.32% to 4,110.11. The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 31,003,070 cases with around 560,110 deaths. Brazil reported over

US equity markets saw a late surge despite a lack of fundamental catalysts at the time on Friday. Some desks cited Fed jawboning on how the coming spike in inflation will be transitory as supportive for stocks. The S&P 500, Dow and Nasdaq 100 all clinched record closing levels. US equity markets saw a late

Equity markets continue to set new records as the Nasdaq plays catch up. Fundamentals are backing bulls as Fed doves dampen inflation concerns. Earnings week ahead will likely add more fuel to the fire. Stay up to speed with hot stocks’ news! Another week another record-shattering performance from US equities. All sectors remain strong but mega-cap

Here is what you need to know on Friday, April 9: Up up and away as bulls push more record highs in equity markets. In the short term nothing, it appears, is clouding the picture. Or is it! The ten year yield reawakens with a fairly sharp rise back toward 1.7%. This may make the

In recent trade today, the People’s Bank of China (PBOC) set the yuan mid-point at 6.5409 vs yesterday at 6.5384. About the fix China maintains strict control of the yuan’s rate on the mainland. CNY differs from its offshore yuan, or CNH, which is not as tightly controlled as the onshore yuan. Each morning, the People’s Bank of China

Here is what you need to know on Thursday, April 8: Stocks continue to remain near or at record highs as politicians and Fed officials remain on point for bulls. President Biden is open to negotiation on the corporate tax rate and Fed minutes show no hawks need apply! The market duly took its cue