USD/CAD down sharply this week The week started with headlines saying no preliminary NAFTA deal would be reached this week at the Summit of the Americas and USD/CAD rose 40 pips to just above 1.28. Shortly afterwards the pair swooned and in three days fell to 1.2600.  Several forays lower have failed to extend beyond 1.2545 and
Happy Friday It’s Friday the 13th but there isn’t anything spooky on the economic calendar. The market is more worried about bombs in Syria or a Trump twitter tirade than economic data. But that doesn’t mean the news won’t move the markets. The numbers start at the top of the hour (1300 GMT) with Canadian
US dollar marches to better levels The first signs of earnings have been solid with Blackrock reporting that profit climbed 27% in Q1. That could be a good sign for financials, which begin reporting tomorrow. The company said the beat on earnings was “driven in part by [a] lower tax rate.” The trade war rhetoric
Forex news for NY trading on April 11, 2018 Intro Paragraph Text Here. In other markets today the snapshot near the end of the day is showing: Spot gold is trading up $12.83 at $1352.28. It was up as much as $25 but backed off into the close.   WTI crude oil closed sharply higher on
Rally virtually evaporated yesterday The good news yesterday was that the S&P 500 finished higher. The bad news is that it only finished 8.69 points higher after being up 49 points at the highs. Most of the gain evaporated in the final hour of trading and the index closed fractionally above the intraday lows. Some of
Cohn gave PowerPoint presentations, Trump didn’t listen The WSJ reports that Trump’s economic team tried to talk him out of a battle with Amazon, showing him that his beliefs about taxes and exploiting the postal system were untrue. “Gary Cohn, his top economic adviser, and other officials gave PowerPoint presentations and briefing papers they believed