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Markets Slightly better-than-expected December EMU PMI’s showed business activity decreasing for the second month running. The rate of contraction was slower than in November though (49.5 from 48.3). A modest return to growth of services (51.4 from 49.5) was unable to erase the continuing downturn in manufacturing (45.2; unchanged). As has now been the case […]

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18/12/2023

EUR/USD: Regains Traction But Recovery Faces Strong Headwinds

EURUSD found a footstep and firmed on Monday after 0.9% drop last Friday, following a double failure at psychological 1.10 barrier. However, recovery is unlikely to extend much as near-term action is weighed by much weaker-than-expected German Ifo data and rising bearish momentum on daily chart. Also, long upper shadow on last week’s candlestick and […]
26/01/2024

CAD’s Troubles Could Be Soon Forgotten

The Canadian Dollar faces a confluence of challenges, from the unexpected BoC stance on interest rates to mixed economic data and the traditionally impactful fluctuations in oil prices. As investors grapple with uncertainty regarding future monetary policy directions and the resilience of various economic sectors, the ‘Loonie’ is navigating a complex landscape. Understanding the interplay […]
25/05/2024

Weekly Economic & Financial Commentary: Higher for Longer Mantra on Repeat in Week Replete with Fed Speak

Summary United States: High Mortgage Rates Burden Homebuyers Homebuying retreated in April following a leg up in mortgage rates. Meanwhile, durable goods orders surprised to the upside, suggesting the manufacturing industry is on better footing. Next week: Consumer Confidence (Tue.), Personal Income & Spending (Fri.) International: Foreign Economies Show Mixed Inflation Trends amid Ongoing Economic […]