Results for Bank of Canada
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US Dollar Slumps and China Surprises with Twice the Expected Trade Surplus

April 13, 2023
Overview:  The market took US short-term rates and the dollar lower after the CPI data, which was largely in line with expectations. On the one hand, the odds of a quarter-point hike next month increased slightly (73.6% vs. 71.6%) to 5.25%, but it reinforced that sense that it is last hike and that the Fed will unwind this hike and more before the…
US Dollar Slumps and China Surprises with Twice the Expected Trade Surplus US Dollar Slumps and China Surprises with Twice the Expected Trade Surplus Reviewed by Marc Chandler on April 13, 2023 Rating: 5
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Yen Jumps Despite Poor GDP Ahead of Tomorrow's BOJ Outcome

March 09, 2023
Overview: Seeing the drama he inspired on Tuesday, the Fed chair tried soft-pedaling the idea that he was signaling a 50 bp hike in March. The market did not buy it. And the odds, discounted by the Fed funds futures rose a little above 70% from about 62% at Tuesday's close. The two-year note yield solidified its foothold above the 5% mark. Wit…
Yen Jumps Despite Poor GDP Ahead of Tomorrow's BOJ Outcome Yen Jumps Despite Poor GDP Ahead of Tomorrow's BOJ Outcome Reviewed by Marc Chandler on March 09, 2023 Rating: 5
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US Dollar is Better Bid Ahead of Powell, while Aussie Sells Off on Dovish Hike by the RBA US Dollar is Better Bid Ahead of Powell, while Aussie Sells Off on Dovish Hike by the RBA Reviewed by Marc Chandler on March 07, 2023 Rating: 5
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Yields Pull Back to Start the New Week

March 06, 2023
Overview: The modest economic goals announced as China's National People's Congress starts was seen as a cautionary sign after growth disappointed last year. It seemed to weigh on Chinese stocks, though others large bourses in the region advanced, led by Japan's Nikkei and South Korea with gains of more than 1%. Europe's Stoxx 600 …
Yields Pull Back to Start the New Week Yields Pull Back to Start the New Week Reviewed by Marc Chandler on March 06, 2023 Rating: 5
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Euro Closed above $1.09 but Follow-Through Buying Limited

January 26, 2023
Overview: After some intraday penetration, the euro finally settled above $1.09 yesterday. However, follow-through buying has been limited and technical and option-related resistance is seen in the $1.0940-50 area. The dollar is more broadly mixed today, with the dollar-bloc and Norwegian krone leading the advancers. The euro, yen, and sterling ar…
Euro Closed above $1.09 but Follow-Through Buying Limited Euro Closed above $1.09 but Follow-Through Buying Limited Reviewed by Marc Chandler on January 26, 2023 Rating: 5
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Bank of Canada may say Pause, but the Market Hears Finished

January 25, 2023
Overview: Amid sharp losses in the US equity futures, the US dollar is mostly firmer against the G10 currencies. The notable exception is the Australian dollar, where high-than-expected inflation boosts the risk of a more aggressive central bank. The Aussie reached its best level since last August (~$0.7125). With a light US economic diary and Fed…
Bank of Canada may say Pause, but the Market Hears Finished Bank of Canada may say Pause, but the Market Hears Finished Reviewed by Marc Chandler on January 25, 2023 Rating: 5
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No Follow-Through Euro Buying while S&P Holds Yesterday's Breakout

January 24, 2023
Overview:  A quiet consolidative session has been recorded so far today as North American leadership is awaited. The preliminary PMI readings are mixed. Japan and the eurozone look somewhat better, but Australia and the UK disappointed.  The dollar is trading with a mostly firmer bias, but largely confined to yesterday's ranges.  The markets s…
No Follow-Through Euro Buying while S&P Holds Yesterday's Breakout No Follow-Through Euro Buying while S&P Holds Yesterday's Breakout Reviewed by Marc Chandler on January 24, 2023 Rating: 5
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Greenback's Sell-off may Stall Ahead of Powell Tomorrow

January 09, 2023
Overview: Don't fight the Fed went the manta as the market took the US two-year yield back up to 4.50% in the aftermath of the FOMC minutes last week, the highest in over a month. The minutes warned of a premature easing of financial conditions. And then bam, softer than expected hourly earnings and a weak service PMI and bonds and stocks rall…
Greenback's Sell-off may Stall Ahead of Powell Tomorrow Greenback's Sell-off may Stall Ahead of Powell Tomorrow Reviewed by Marc Chandler on January 09, 2023 Rating: 5
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