Markets Struggle to Pin Down a Turning Point in US Expansion
The dollar hit a corrective low yesterday following the release of US labor market data:The US Dollar Index (DXY) fell below the 104.40 level, marking a low point in the retracement since the...
Amazon Shares Suffer Largest Loss Since November
Tech Stocks Tumble Stocks were slammed lower yesterday as global yields surged higher on the back of yet another central bank interest rate hike. Following on from the RBA, the BOC hiked rates again...
RBA, BOC Rate Hikes Put Fresh Focus on Fed
Hawkish Risks into FOMCOn the back of surprise rate hikes from the RBA and BOC this week, traders are mulling the prospect of the Fed opting to retain a hawkish stance at the upcoming FOMC. Odds for a...
Dollar Extends Pullback but Buying Pressure may Resurface in the run-up to the May CPI Report
Dollar Extends Pullback but Buying Pressure may Resurface in the run-up to the May CPI ReportThe trend corridor for USDCAD held its ground despite the unexpected decision by the Bank of Canada to...
CAD Soars On Surprise BOC Rate Hike
BOC Hikes AgainThe Bank of Canada yesterday caught markets somewhat off-guard as it announced a fresh rate hike, the first since pausing its tightening campaign in January. The BOC hiked rates from...
Oil Drops As Saudi Production-Cut Rally Fades
Calmer Crude MarketsFollowing heavy volatility at the start of the week, crude oil prices action has calmed down sharply through the week. Crude futures are now hovering around the level of last...
CAD Rallying Ahead of BOC Rate Decision
BOC on WatchToday’s BOC meeting is drawing plenty of attention, particularly on the back of recent unexpected interest rate hikes from the RBA. While the BOC has been on hold since its last .25% hike...
GBP Weaker As OECD Forecasts UK Growth Disappointment
OECD Raises UK Growth Forecasts... SlightlyThe latest set of forecasts from the OECD makes pretty dim reading for the UK. The economy is set to suffer the second-worst performance of the G7 this year,...
Tesla Breaks Out To Fresh 2023 Highs
Fed Lift Shares in Tesla are trading at fresh highs for the year this week after breaking out yesterday. Pre-market, the stock is sitting a few points higher suggesting further gains to come as we...
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