Canada’s Q2 GDP was likely much better than Q1. A high growth rate will drive interest rates higher. Any NAFTA headlines impacting future growth can overshadow past growth figures Canada releases Gross Domestic Product data on Thursday, August 30th, at 12:30 GMT. Canada is unique in publishing GDP on a monthly basis contrary to other … “Canadian growth may be great, but NAFTA hangs above”
Month: August 2018
EUR/USD: Have We Seen The Lows In EUR/USD? Where To Target? – Credit Agricole
EUR/USD is sliding after reaching new monthly highs yesterday. What’s next? Is it poised to resume the rally after the recent correction? Here is their view, courtesy of eFXdata: Credit Agricole CIB Research discusses EUR/USD outlook and thinks that the lows are already in for the year with a scope for targeting 1.21 by year-end. “…Renewed USD … “EUR/USD: Have We Seen The Lows In EUR/USD? Where To Target? – Credit Agricole”
Canadian Dollar Touches Three-Month High on US Trade Deal Hopes
The Canadian dollar is nearing its best level in three months as investors are hopeful that a new trade deal can be reached with the US and Mexico. After President Donald Trump and his administration announced a new trade pact with Mexico, the White House confirmed it will now concentrate its efforts on Canada, hopefully … “Canadian Dollar Touches Three-Month High on US Trade Deal Hopes”
Pound Rallies Higher on Risk-On Sentiment and Weak US Dollar
The British pound today rallied higher against the US dollar in a move that was largely fueled by the greenback’s decline following yesterday’s geopolitical events. The trade deal announced between the US and Mexico triggered a risk-on sentiment across the global financial markets, which triggered a significant selloff of the US dollar boosting the pound. … “Pound Rallies Higher on Risk-On Sentiment and Weak US Dollar”
Mexican Peso Rallies on US-Mexico Trade Agreement
The Mexican peso is rallying against its American counterpart on Monday after officials announced a new US-Mexico trade agreement that would scrap the North American Free Trade Agreement (NAFTA) name because of âbad connotations.â The two nations will now wait to see if Canada will agree to a bilateral pact with Washington. After months of tough negotiations, the US and Mexico reached a deal that they say will … “Mexican Peso Rallies on US-Mexico Trade Agreement”
Canadian Dollar Rallies amid NAFTA Hopes
The Canadian dollar rallied against its major peers today (though failed to gain on the strong euro) after the United States and Mexico reached a preliminary trade agreement, giving hope that the similar deal can be reached with Canada. Over the weekend, the USA and Mexico reached a preliminary deal that should replace the North American Trade Agreement. While Canada was excluded from the negotiations, the success of the talks led to hopes … “Canadian Dollar Rallies amid NAFTA Hopes”
US-Mexico deal: Congress may have its say on Trump trying to exclude Canada
The US and Mexico have reached a new NAFTA deal and Canada is set to join. Trump portrays it as the bilateral deal he always wanted and threatens Canada. Congress may have its say, in one composition or another. After long negotiations during the summer, the US and Mexico have agreed on the details of … “US-Mexico deal: Congress may have its say on Trump trying to exclude Canada”
US GDP: Watch the weight of exports, Fed expected to hike in any case
The second release of US GDP is expected to show a small downgrade. Changes in the composition of growth will be of interest. A drop below 4% annualized will inflict some political damage but is unlikely to derail the Fed. The US releases the second version of Q2 GDP on Wednesday, August 29th, at 12:30 … “US GDP: Watch the weight of exports, Fed expected to hike in any case”
Euro Halts Drop to Rally Higher on Upbeat German IFO Data
The euro today halted its slide against against the US dollar following the release of the upbeat German IFO business survey data in the early European session. The EUR/USD currency pair was under intense selling pressure today as the greenback recovered from Friday’s selloff, which was triggered by the Fed Chair Jerome Powell‘s dovish speech. … “Euro Halts Drop to Rally Higher on Upbeat German IFO Data”
US Dollar Weak After Trump’s Comments, Powell’s Speech
The US dollar was one of the weakest currencies during the past trading week, though the Japanese yen was actually the weakest due to the relatively optimistic market sentiment. One of the major reasons for the dollar’s weakness were the comments from US President Donald Trump who criticized Federal Reserve Chairman Jerome Powell for raising interest rates. Talking about Powell, he was speaking at the Jackson Hole symposium on Friday, saying that … “US Dollar Weak After Trump’s Comments, Powell’s Speech”