Scotiabank strategists cite softer oil prices and geopolitical risks as drivers for renewed CAD depreciation against USD. The Canadian Dollar (CAD) is under pressure as USD/CAD approaches the 1.40–1.41 range, driven by declining oil prices and heightened geopolitical conce
Scotiabank strategists Shaun Osborne and Eric Theoret highlight renewed Canadian Dollar (CAD) weakness as softer Oil prices and geopolitical concerns push USD/CAD to new year-to-date highs. They describe a “heads I win, tails you lose” backdrop for the CAD, with the pair b
EUR/USD struggles near two-month lows on Thursday as traders show a muted reaction to the latest European Central Bank (ECB) interest rate decision. Meanwhile, escalating tensions in the Middle East keep risk sentiment subdued and support the US Dollar (USD), leaving the E
Nordea’s Jan von Gerich and Tuuli Koivu note that the European Central Bank (ECB) raised rates by 25bp and signalled readiness to tighten further as inflation stays above target. They highlight that core inflation is projected above 2% through 2028, supporting expectations
Prior forecast was in January GDP growth could slow to 1.3% if energy supply disruptions continue Emerging market growth seen at 3.6% vs 4.4% last year. Down from 4.0% in January China GDP seen at 4.2% vs 4.4% in Jan Eurozone growth seen at 0.8% vs 0.9% in Jan US GDP seen
TD Securities expects the RBA to keep rates steady next week, citing soft economic data and inflation risks delaying cuts. The Reserve Bank of Australia is expected to hold its cash rate at 4.35% at next week’s meeting, as recent weak economic data and Federal Budget tax c
XAG/USD falls to $63.00 as rising Treasury yields and safe-haven demand for the dollar weigh on non-yielding assets. Silver (XAG/USD) declined 0.58% to $63.00 on Thursday, extending its bearish trend as investors recalibrate expectations for US monetary policy. Persistent
Royal Bank of Canada maintains its growth outlook for Canada despite a first-quarter GDP decline, citing consistent slack indicators. Canada’s economy shrank in the first quarter, yet Royal Bank of Canada left its growth forecast unchanged. The bank attributed the contract
The Japanese yen shows minimal reaction to Bank of Japan leadership absence, with USD/JPY stable below late-April intervention levels. USD/JPY remains tightly range-bound around 160.50, just below its late-April highs that triggered prior currency intervention. The pair’s
Markets price in a 25 bps BoJ rate hike to 1.00% with limited reaction to Governor Ueda’s temporary absence. USD/JPY remains steady around 160.50, just below its late-April high of 160.72, as traders fully price in a 25 bps Bank of Japan rate hike to 1.00%. The move follow
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