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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%. […]

Fed Hike Priced In But Market to Focus on Powell’s Words

The US dollar is higher against major currencies on Tuesday after American inflation came in better than expected ahead of the eagerly anticipated Federal Open Market Committee (FOMC) two day meeting. A 25 basis points rate hike has been priced in for months with the CME FedWatch showing a 96.3 percent probability of a lift […]

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), […]

US Private Jobs and Bank of Canada on the Agenda

The US dollar is mixed as risk aversion has made traditional safe haven currencies (JPY and CHF) advance versus the greenback. The USD is higher against the EUR as the Spanish PM faces a confidence vote with the single currency still reeling from the Italian political crisis that in a worst case scenario could mean […]

Geopolitical Tensions Moderate Ahead of US Jobs Week

The US dollar was up against majors pairs on Friday ahead of the release of employment data in America. On a weekly basis the greenback gained against the CAD, EUR and GBP but lost ground against the JPY, AUD and CHF after five days that featured various geopolitical developments. Holidays in the United Kingdom and […]

NAFTA Negotiations Ongoing But Not Dead

Talks between the U.S., Canada and Mexico on revamping the North American Free Trade Agreement are continuing but it appears unlikely there’s enough time for the U.S. Congress to vote on a deal before the end of the year, analysts say.“I don’t think they’re going to get a text to Congress at all within the […]

Dollar Rises Amid Italian Coalition and China-US Trade Uncertainty

The US dollar appreciated against major rival currencies on Friday. The dollar rally is back on after the two of the largest parties in Italy agreed to form a coalition government and Japanese inflation retreated. Although there is no plan for Italy to exit the European Union it could put it to the test with […]

Dollar Rally Shows Staying Power as ECB Delivers Neutral Comments

The US dollar is higher against major pairs except the JPY who is trading higher awaiting the Bank of Japan (BOJ) monetary policy statement and press conference. The European Central Bank (ECB) was less than forthcoming about its plans earlier today and in his press conference President Mario Draghi made some comments that cancelled each […]

Strong Yields Boost Dollar Awaiting ECB

The US dollar is higher across the board against major pairs. US 10-year treasury bonds are above the 3 percent level making dollar shorts more expensive. Higher yields are a reflection of interest rate hike expectations, which Fed members have stoked with their latest comments. Rising inflation and steady economic growth are behind those the […]