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CANADA: Consumer Price Index, May 2018

The Consumer Price Index (CPI) rose 2.2% on a year-over-year basis in May, matching the increase in April. Component highlights All eight major components increased on a year-over-year basis in May, although five of the eight major components grew at a slower rate. The transportation index rose 5.6% in May, following a 4.7% increase in […]

Canada: Monthly Survey of Manufacturing, April 2018

Manufacturing sales fell 1.3% to $56.2 billion in April, following two consecutive monthly increases. Sales were down in 10 of 21 industries, representing 49.6% of the manufacturing sector. Sales in the petroleum and coal products and transportation equipment industries accounted for much of the decrease in April. Excluding these two industries, manufacturing sales rose 0.4%. […]

Hawkish Fed Boosts US Dollar But Tariffs Bring Currency Down to Earth

The US dollar is lower against major pairs after the U.S. Federal Reserve raised the benchmark Fed funds rate by 25 basis points on Wednesday. The move was heavily anticipated by the market, but the strong pace of the US economy could mean more rate hikes. The latest projections from the US central bank now […]

Upbeat Markets Ahead of Busy Week

Investors Not Wobbled By G7 Trade Fallout The mood in financial markets is relatively upbeat at the start of a very busy week, as investors shrug off the G7 meeting which didn’t exactly go to plan as Donald Trump rejected the prepared communique and left early. While everyone will have hoped for a better outcome […]

Risk Aversion Seen Ahead of Hostile G6+1 Summit

Trade a Touchy Subject as Trump Isolates US Ahead of Quebec Meeting Financial markets are in risk aversion mode ahead of the G7 summit in Quebec on Friday, with investors potentially concerned as leaders clash over trade and other issues. While Trump has at times appeared friendly with certain other heads of state in the […]

Mexico hits back with pork, bourbon tariffs

Mexico imposed wide-ranging tariffs on American products ranging from steel to pork and bourbon on Tuesday, responding to President Donald Trump’s metals tariffs and taking aim at Republican strongholds ahead of U.S. congressional elections in November. Mexico’s retaliation further raises trade tensions between the two countries, which have been echoed in dealings between Washington and […]

Live FX Market Analysis – 5 June 2018 (Video)

In this week’s webinar, Senior Market Analyst Craig Erlam discussed the major events moving financial markets right now including political chaos in Italy and Spain and Trump’s tariffs on the EU, Canada and Mexico. He also previewed the week ahead. Craig also gives his live analysis on EURUSD (13:31), GBPUSD (17:04), EURGBP (18:39), AUDUSD (19:24), […]

Trump Tariffs Undo Positive Impact of Tax Cuts

President Donald Trump has embarked on an unorthodox follow-up to cutting the taxes American families pay: raising the prices of goods they buy. Higher prices will result directly from tariffs the White House plans to impose on steel and aluminum imports from allies such as Canada, Mexico and the European Union as well as other countries. The White House […]

Risk Appetite Improves Ahead of US Jobs Data

Italy Forms Government While Spain’s Rajoy Loses No Confidence Vote You may not guess it based on the current levels in financial markets but it’s been quite a week for investors which has been reflected by a spike in volatility, with politics being the main driver of the unrest. Over the course of this week, […]

Dollar Falls As US Fires First in Trade War

The US dollar is lower against most major pairs on Thursday. The United States announced earlier in the day that it would apply tariffs on steel and aluminium imports form EU, Canada and Mexico. The NAFTA pairs depreciated as a wave or retaliatory moves are expected. US Trade Secretary Wilbur Ross said the tariffs are […]