Blogs

<p>We appear to be seeing some profit taking after a surprisingly strong start to the week, with European markets slightly lower as US futures a little flat. It’s been really interesting to see investors navigate a potentially huge banana skin of a week. The normal caution has been replaced by an unshakable belief that bad […]

<p>The Canadian economy ended the ‘before times’ at a virtual standstill, as real GDP was effectively unchanged in February. While this was a bit worse than consensus (+0.1%), the implications for first quarter growth are a rounding error given the scale of the Covid-19 hit estimated in Statistics Canada’s earlier nowcast. M

<p>Canadian GDP was unchanged m/m in February Transportation disruptions and teachers’ strikes hurt growth StatCan still reporting a 10% annualized decline in Q1 GDP Today’s GDP report provides a pre-pandemic snapshot of the economy, when Canada had no more than a dozen confirmed coronavirus cases. Factors that limited growth back then—

<p>The S&P 500 Futures are slightly dipping after they posted a powerful rally of over 2% yesterday, as investors were encouraged by Gilead Sciences’ promising trial test results for its drug Remdesivir in treating coronavirus patients. Sentiment was also boosted by the Federal Reserve’s pledge to support the economy. Later t

<p>Notes/Observations Binge of EU data showed coronavirus pandemic already had an impact on the regional economy; focus on ECB and whether the central bank will add to its stimulative measures EU inflation beat expectations but lower from month-ago level (France, Spain, Italy and Euro Zone) German Apr Net Unemployment surged by +373K to take

<p>Yesterday, the GBP/USD exchange rate tried to surpass the 1.2480 level. During Thursday morning, the rate pierced the weekly R1 at 1.2500. On the one hand, it is likely that some upside potential could continue to prevail in the market. In this case the currency pair could exceed the psychological level at 1.2550. On the […]

<p>On Wednesday, the USD/JPY currency pair traded sideways in the 106.60 area. During today’s morning, the pair maintained its consolidation. Note that the exchange rate is pressured by the 55-hour SMA near 106.70. Thus, some downside potential could prevail in the market, and the rate could target the psychological level at 106.00. How

<p>Yesterday, the XAU/USD exchange rate tried to surpass the 100-hour SMA near 1,715.00. During Thursday morning, the rate broke the given moving average. On the one hand, it is likely that some upside potential could prevail in the market, and the price for gold could target the psychological level at 1,730.00. On the other hand, […]

<p>The USD weakened against a number of its counterparts yesterday, as the market sentiment continued to improve, and the Fed seems prepared for further monetary easing. Market sentiment got a boost as there are signs that coronavirus is receding in various parts of the world and there were positive trial results for a medication. On [&hellip

<p>WTI oil futures for June delivery have been moving back and forth since the plunge to 6.62 last week, forming a double bottom pattern around the 10.00 level on the four-hour chart. The bullish reversal pattern, however, needs a confirmation above the neckline that is placed around the 18.00 mark to turn valuable. Currently, the […]