Canadian growth may be great, but NAFTA hangs above

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”

Read More

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”

Read More

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”

Read More

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”

Read More

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 â€œbad connotations.” 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”

Read More

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”

Read More

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”

Read More

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”

Read More

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”

Read More

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”

Read More