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Markets Sticky. There’s no better way to describe today’s US CPI print. Headline and core inflation rose by 0.4% M/M in February. Both are in line with forecast, given that core CPI actually increased by 0.358% (vs 0.3% forecast). Annual readings increased for the top figure (3.2% Y/Y from 3.1% Y/Y) and fell slightly less […]

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02/04/2024

Fed Unlikely to Lower Policy Rate Ahead of September

Markets It was all about the March US manufacturing ISM yesterday. The ISM unexpectedly returned above the boom/bust-mark (50) for the first time since September 2022! The increase from 47.8 to 50.3 (vs 48.3 expected) came on account of higher production (54.6 from 48.4), rising new orders (51.4 from 49.2), a smaller contraction in inventories […]
03/02/2024

Weekly Focus – Wait and See Mode in Central Banks

In a week with no big data or central bank surprises, renewed fears of turmoil in the US banking sector on the back of the free fall of the New York Community Bancorp (NYCB) stock, drove longer dated yields lower as markets largely ignored hawkish Fed comments. With decent macro data and declining inflation as […]
03/01/2024

USD/CAD Price Analysis: Maintains Its Position Near 1.3330 Ahead of US Key Events

USD/CAD moves sideways after halting a winning streak that began on December 27. MACD indicator suggests a potential shift in the pair’s direction. A break above the 23.6% Fibonacci retracement at 1.3351 could lead the pair to surpass the 21-day EMA at 1.3363. USD/CAD hovers near 1.3330 during the Asian session on Wednesday. The USD/CAD […]