The Canadian dollar lost 0.19 percent on Wednesday. The loonie gave back the gains from Tuesday when optimism about USMCA ratification and trade goodwill made the currency an outlier of major pairs. Safe haven currencies were the big draw in the market with the JPY and the CHF rising against the US dollar, while the greenback appreciated against th
Federal Reserve officials remained firmly committed to a “patient” policy stance at their meeting earlier this month, saying rates likely will remain unchanged well into the future. Minutes from the May 1-2 Federal Open Market Committee meeting also showed that members raised their expectations for full-year economic growth and said that earlier co
Treasuries kept their gains and the dollar was little changed following the release of the FOMC minutes.  Rate cut expectations are lower, with the September meeting pricing in a 38.6% chance of a rate cut at the September meeting. Balance Sheet Normalization Participants resumed their discussion of issues related to balance sheet normalization wit
Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on April 30-May 1, 2019. The minutes for each regularly scheduled meeting of the Committee ord
USD/JPY has posted slight losses on Wednesday. In the North American session, the pair is trading at 110.29, down 0.18% on the day. In economic news, Japan released strong numbers. Core Machinery Orders climbed 3.8%, crushing the estimate of o.0%. This marked a 5-month high. Japan’s trade deficit declined by JPY 11.0 trillion, beating the estimate
Mnuchin Says US Debt Ceiling to be Hit in Late Summer - MarketPulseMarketPulse Home / EUR / Forex News Round Up / USD Share 0 U.S. Treasury Secretary Steven Mnuchin on Wednesday urged Congress to raise the U.S. debt ceiling as soon as possible, saying the U.S. government was expected to exhaust its borrowing authority around late summer. “I haven’t
The U.S.-China trade war could take a big chunk out of Apple’s bottom line if China retaliates by banning its products, according to an analyst at Goldman Sachs. Analyst Rod Hall said in a note to clients that Apple’s earnings could drop by 29% if the company’s products were banned in mainland China. The analyst cut his price target on Apple to $17
China is exploring more drastic action as a result of its trade fight with the U.S., according to the South China Morning Post. While China is open to resuming trade talks, “government advisers are now highlighting the risk of sourcing critical supplies from an increasingly hostile US…and are exploring ways for the country to cut its exposure to th
US Treasury Secretary Open to New China Talks - MarketPulseMarketPulse Home / CNH / EUR / Forex News Round Up / USD Share 0 U.S. Treasury Secretary Steven Mnuchin said the Trump administration is open to holding new talks with China if the two sides can proceed on the basis of previous negotiations. Mnuchin, speaking to reporters after testifying a
Oil prices dropped by more than 1 percent on Wednesday after the release of the weekly US crude inventory data. A surprise buildup of 4.7 million barrels of crude and 3.7 million barrels of gasoline pushed prices down. Middle East tensions and the ongoing OPEC+ crude output cut deal have kept prices in a higher range, but higher US production keeps
AUD/USD has posted small losses on Wednesday. Currently, the pair is trading at 0.6875, down 0.12% on the day. On the release front, Australian indicators pointed lower. The MI Leading Index dropped 0.1%, while the Construction Index declined 1.9%, much weaker than the estimate of a 0.1% gain. This was a third straight decline, indicative of persis
Oil Drops After Surprise Build on Crude Inventories: 4.7M build v -1.3M draw expected - MarketPulseMarketPulse Home / CAD / Commodities / Economic Exposure Share 0 Oil prices quickly returned back to session lows and the loonie gave back all of its earlier gains that stemmed from a strong retail report following the surprising build with crude inve
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