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Beware: FX Space is Calm, but Appearances can be Deceiving

Wednesday February 7: Five things the markets are talking about Risk-averse sentiment seems to have cooled for the time being as a number of the major indexes rebound in the overnight session. Note: From a volatility standpoint, the forex market space appears tranquil when compared to other asset classes like equities or bonds. The rebound […]

US Trade Deficit Reaches 9 Year High

The U.S. trade deficit widened more than expected in December, hitting its highest level since 2008 as robust domestic demand pushed imports to a record high. The Commerce Department said on Tuesday the trade gap increased 5.3 percent to $53.1 billion. That was the highest level since October 2008 and followed a slightly upwardly revised […]

Gold Drops as US Stock Markets Recover

Gold has posted strong losses in the Tuesday session. In North American trade, the spot price for an ounce of gold is $1328.04, down 0.86% on the day. On the release front, JOLTS Jobs Openings slowed to 5.81 million, well off the estimate of 5.95 million. Gold prices moved higher on Monday, following a massive sell-off […]

US Secretary of Treasury Says He is Closely Following Financial Markets

Treasury Secretary Steven Mnuchin said Tuesday the White House is closely following the turmoil in financial markets, but administration officials are not that concerned. “We’re monitoring the situation,” Mnuchin told CNBC while on his way to his testimony before the House Financial Services Committee on financial stability. “The markets look like they’re functioning normally in […]

US Jobs Openings Slowed Down in December

Job openings in December ticked down slightly from the prior month, while the measure of unemployed persons per job opening held their ground at historic lows. The Bureau of Labor Statistics fell to 5.81 million job openings in December, undershooting forecasts of 5.9 million from a survey of Reuters economists. The Bureau’s Job Openings and […]

US President Trump to Give Infrastructure Details on Monday

U.S. President Donald Trump plans to unveil details of his long-awaited plan to generate at least $1.5 trillion in infrastructure improvements over 10 years next Monday, a White House official said on Tuesday. Trump will issue “infrastructure principles, which will outline a plan” to boost infrastructure and call for cutting regulatory burdens to speed approval […]

GBP/USD – Pound Drops to 2-Week Low After Global Sell-off Boosts Dollar

The British pound remains under pressure this week. In Tuesday’s North American session, GBP/USD is trading at 1.3951, down 0.15% on the day. On the release front, there are no British events on the schedule. The US trade deficit widened, climbing to $53.1 billion and missing the forecast of $52.1 billion. In the US, JOLTS Jobs […]

U.S. Trade Deficit Is Wider Than Any Month or Year Since 2008

The U.S. trade deficit widened to the biggest monthly and annual levels since the last recession, underscoring the inherent friction in President Donald Trump’s goal of narrowing the gap while enjoying faster economic growth. The deficit increased 5.3 percent in December to a larger-than- expected $53.1 billion, the widest since October 2008, as imports outpaced […]

USD/CAD – Canadian Dollar Under Pressure as Global Stock Markets Slide

The Canadian dollar is steady in the Tuesday session, after considerable losses in the past two sessions. Currently, the pair is trading at 1.2556, up 0.16% on the day. On the release front, Canada’s trade deficit widened to C$2.3 billion, missing the estimate of C$2.3 billion. The US trade deficit also widened, climbing to $53.1 billion […]

Equity and Crypto Pain Persists

Tuesday February 6: five things the markets are talking about The global equity rout extended overnight as Asian and European markets followed Wall Street and tumbled, sending equity indexes toward the biggest three-day slide in nearly three-years. Volatility in stocks has pushed a number of investors to unwind equity bets and head to the ‘mighty’ […]