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Tag: usd

GBP/USD – British pound dips below 1.30 as Construction PMI slips

GBP/USD has posted considerable losses on Tuesday. In the North American session, the pair is trading at 1.2992, down 0.37% on the day. On the release front, British Construction PMI dipped to 52.1, short of the estimate of 52.8 points. There are no major U.S events. On Wednesday, the UK releases Services PMI, and the […]

Boris Johnson challenges PM May on Brexit

Former British foreign minister Boris Johnson made what was seen as a blatant pitch to replace Prime Minister Theresa May as Conservative leader on Tuesday, damning her Brexit plans while calling for his party to regain its confidence. In a speech which delighted an audience at the Conservative Party conference, Johnson called for no new […]

Canadian housing agency says it can withstand market shocks

Canada’s federal housing agency said on Tuesday it is well capitalized and able to weather severe but unlikely scenarios including a global trade war and repeated cyberattacks on Canadian financial institutions. The Canada Mortgage and Housing Corporation (CMHC), responsible for insuring the bulk of Canadian mortgages issued by banks and other big lenders, uses annual […]

Wall Street opens lower on Italian concerns

U.S. stocks slipped at the open on Tuesday, with bank stocks the biggest drags, pressured by turmoil in European markets following an Italian lawmaker’s anti-euro comments and as relief from a reworked NAFTA deal faded. The Dow Jones Industrial Average .DJI fell 2.30 points, or 0.01 percent, at the open to 26,648.91. The S&P 500 […]

Oil Continues Rise as Supply Concerns Mount

Oil prices were mixed Tuesday morning, even as crude prices held to near four-year highs amid growing signs of shrinking global supply. Brent crude, the global benchmark, was down 0.61% to $84.46 a barrel on London’s Intercontinental Exchange . On the New York Mercantile Exchange, West Texas Intermediate futures were trading flat at $74.29 a […]

Mobius Predicts Ugly Dispute Between US-China Until Agreement is Reached

Expect much confrontation between China and the United States until they reach an agreement on trade, noted investor Mark Mobius told CNBC on Tuesday. “(China is) going to be tough to begin with and they are not going to give in easily, because you’re talking about (a $)300 million trade deficit in China’s favor, so […]

With USMCA Secured Trump Admin to Take on China

Using trade deals with Canada, Mexico and South Korea as leverage, Washington looks set to sharpen its hard line trade policy against China and what it deems unfair trade practices from Beijing, strategists told CNBC. Though some experts have said a tariff-impacted slowdown in Chinese economic activity may make Beijing more willing to agree to […]

USD/CAD – New trade deal boosts Canadian dollar

The Canadian dollar is unchanged in the Tuesday session. In the North American session, USD/CAD is trading at 1.2815, down 0.02% on the day. On the release front, there are no Canadian events and one minor U.S indicator. On Wednesday, the U.S releases two key events – ADP nonfarm payrolls and ISM Non-Manufacturing PMI. After […]

Italian spending plans and euro commitment weigh

USMCA boost short-lived US stock markets are expected to open around half a percent lower on Tuesday, reversing much of Monday’s gains as investors quickly move on from the positive trade developments in North America. Investors were clearly buoyed by the USMCA announcement at the start of the week, with the deal removing one of […]

Risk sentiment is shifting and headline-driven

Tuesday Oct 2: Five things the markets are talking about Capital markets are in a sombre mood as a number of reasons for caution come to the fore. Brexit rhetoric and the Italian government’s fiscal plans top the agenda, followed closely by trade deals and tariffs and political drama in Washington. Amid the risk-off mood […]