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U.S dollar firmer on GDP expectations

Friday July 27: Five things the markets are talking about Euro stocks have found some traction after a mixed performance overnight in Asia, as investors remain upbeat over the tentative trade truce between the U.S and the E.U. President Trump and E.C Commission President Juncker agreed, in principle, not to impose new tariffs while the […]

USD/CAD – Canadian dollar steady ahead of US Advance GDP

The Canadian dollar has ticked higher in the Friday session. Currently, USD/CAD is trading at 1.3074, down 0.03% on the day. On the release front, there are no Canadian indicators on the schedule. The U.S will release Advance GDP for the second quarter, with the markets expecting a strong gain of 4.2%. As well, UoM […]

EUR/USD – Euro slips after ECB statement, US GDP next

EUR/USD has steadied in the Friday session, after recording considerable losses on Thursday. Currently, the pair is trading at 1.1646, up 0.03% on the day. On the release front, French indicators missed their forecasts. French GDP for the second quarter dropped 0.2%, short of the estimate of 0.3%. This marked the lowest gain since Q3 […]

Yen buoyed as inflation tops estimates

Tokyo prices rise most in four months This morning’s release of consumer prices in Tokyo saw the biggest rise in four months. Prices rose 0.9% y/y, beating economists’ estimates of a mere 0.5% increase by a large margin. Prices in June were 0.6% higher than a year earlier. This contrasts with the national reading for […]

Dollar Rebounds in Anticipation of Q2 GDP Release

The US dollar is higher across the board against major pairs on Thursday. The first estimate of second quarter gross domestic product (GDP) in the US will be published on Friday, July 27 at 8:30 am EDT by the Bureau of Economic Analysis. The dollar gained ground on the euro after the European Central Bank […]

Gold dips as trade tensions ease following Juckner visit

Gold has posted losses in the Thursday session. In North American trade, the spot price for one ounce of gold is $1227.40, down 0.40% on the day. On the release front, durable goods reports rebounded in June but missed their estimates. Core Durable Goods Orders improved to 0.4%, shy of the estimate of 0.5%. Durable Goods […]

GBP/USD – British pound dips despite soft US durables

The British pound has posted losses in the Thursday session, erasing the gains made on Wednesday. In the North American session, the pair is trading at 1.3149, down 0.31% on the day. On the release front, there are no British events on the schedule. In the U.S, durable goods reports rebounded in June, but missed their estimates. […]

EU-US Negotiations Well Under Way says Mnuchin

U.S. trade negotiations with the European Union formed the basis of a “real agreement” between the two parties that will reduce tensions, Treasury Secretary Steven Mnuchin said Thursday. Mnuchin spoke to CNBC a day after the White House announced it had reached a general agreement with the European Union to work toward zero tariffs and […]

US Treasury Sec Mnuchin Says NAFTA Deal is Near

Treasury Secretary Steven Mnuchin told CNBC on Thursday a deal on NAFTA is coming in the near future. “We hope to have an agreement in principle, clearly, very soon. That’s the first priority,” Mnuchin said on “Squawk Box.” “I think we’re making a lot of progress.” The U.S., Mexico and Canada have been in talks […]

US Business Spending Rose and Trade Deficit Widened in June

New orders for key U.S.-made capital goods increased more than expected in June and shipments surged, pointing to solid growth in business spending on equipment in the second quarter. Expectations of robust economic growth in the April-June period were, however, tempered somewhat by other data on Thursday showing a widening in the goods trade deficit […]