Technical Outlook and Review

Bounce from last Thursday’s multi-month low and a bear-trap, extends into second consecutive day and accelerates on Monday. The dollar benefited from stronger than expected US jobs data in November, which shifted the view about rate cuts in 2024, while BoJ softened the narrative about start of tightening its ultra-loose policy, by comments that there […]

Canada’s economy likely added fewer jobs in December Local dollar shows some weakness ahead of Friday’s data due at 13:30 GMT Unemployment rate to rise furhter According to market forecasts, the unemployment rate in Canada increased to 5.8% in November 2023, higher than the 5.7% figure that was recorded in the previous month. The rate reached […]

U.S. Highlights The U.S. economy accelerated in the second quarter, growing by 2.8% (annualized), up from 1.4% in the first quarter. At the same time, inflation cooled to 2.5% year-on-year (y/y) in June, as measured by the personal consumption expenditure deflator. However, the Fed’s preferred inflation metric, core PCE, was unchanged relative to May. High […]