Canadian Dollar
The dollar only held its gains against the Japanese yen on Thursday after U.S. President Donald Trump's tax plan offered no surprises, slowing the greenback's rally. The market also awaited the European Central Bank's monetary policy decision. The Canadian dollar and Mexican peso, which had slumped earlier on reports the United...
DAX
French blue chips hit a fresh 9-year high on Wednesday, helped by a surge in the shares of luxury group Kering after it reported strong sales, while European regional indexes hovered near a 20-month peak. The pan-European STOXX 600 benchmark ended the session up 0.5 percent as luxury stocks and financials...
Gold
Precious metals traded in the red on Thursday with gold edging down, mostly led by decreasing global geopolitical risks. However, market watchers remained concerned regarding the US President Donald Trump’s tax plan that he revealed on Wednesday. Meanwhile, investors continued to await European Central Bank’s (ECB’s) interest rate decision and...
WTI OIL
Following a much larger than anticipated drawdown in US Crude Inventories, the recent oil rout is levelling out which means buying pressure is likely to be coming down the line in the immediate future. Moreover, both the near and medium-term technical biases are indicating that a bottom has been...
Mario Draghi
EURUSD seems to be looking for an excuse to assault the $1.10 level and the ECB could provide the ammunition. But it might also prove a big disappointment. The pair has so far failed to maintain much momentum since the French election result produced a wave of relief across markets...
Donald Trump
US Treasury yields turned lower and the dollar trimmed recent gains versus the yen, helping gold recover from a two-week low. US President Donald Trump made his tax plan announcement on Wednesday, which was viewed as lacking in detail, prompting a fall in the 10-year US Treasury yield to 2.30%,...
European Central Bank
Trump's big tax reforms and tax reductions on Wednesday proved to be not so big, at least from Wall Street’s perspective. U.S. equities shrugged off earlier gains after flirting with all-time highs, the dollar pared back some gains, and Treasury yields declined slightly from a two-week high. The market’s reaction...
European Central Bank
The long-term bullish wedge is playing out nicely and, even if it fails to reach the target in the year/s ahead, we remain confident the near to medium-term should provide bullish opportunities. The French elections, where a vote for populism didn’t dominate, provided the catalyst to send EURNZD hurtling higher....
Bank of Japan
Right on expectations and little change on JPY At some point, the BOJ is expected to slow the pace of JGB purchases, but with inflation remaining stubbornly below the 2 % target the BoJ maintains current policy guidance. While currency concerns are not within the BoJ overall purview, but with risk perking up,...
Canadian Dollar
TD FX Strategy Research argues that USD/CAD looks expensive around current levels and if moves higher to 1.3650, the pair will be close to three standard deviations overvalued on TD valuation models. As such, TD recommends using trade-related bounces to reengage with new short USDCAD exposure, which should see the pair gradually push back...