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During the Asian session on Wednesday, the USDCAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to a […]

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12/04/2024

Sunset Market Commentary

Markets This morning we wrote: “The dollar holds the better cards against both the euro and the pound. EUR/USD is nearing the 1.07 pivot again and GBP/USD holds close to 1.25 this morning. Which will break first?” Well, both, it turned out. A clearer than ever divergent path between the Fed and ECB specifically weighs […]
21/08/2024

Riksbank Cuts Interest Rates by 25bp and Signals 2-3 More Rate Cuts in 2024

In focus today In the US, minutes of the Fed’s July meeting will be published in the evening. While the focus will naturally be on any clues regarding future rate cuts, the views are likely at least somewhat outdated given that the July jobs report was published only after the meeting. Furthermore, the US Bureau […]
09/09/2024

Oil: Bears Pause After Last Week’s 7.3% Drop

Oil price ticked higher on Monday and holding within a narrow consolidation, following 1.8% drop on Friday, sparked by disappointing US jobs data. Mild rise in early Monday came from a partial profit taking and signals about potential hurricane system developing above US Gulf. Larger picture shows the oil price in a downtrend which accelerated […]