USDCAD runs up to 200 hour MA
13 May 2021
200 hour MA at 1.21838
The USDCAD has run through the 38.2% and up to the next key target at the 200 hour MA. As per the earlier post, getting back above those levels are the minimum if the buyers are to take back more control.
Read more
The USDCAD has run through the 38.2% and up to the next key target at the 200 hour MA. As per the earlier post, getting back above those levels are the minimum if the buyers are to take back more control.
Fed's Waller: US economy going 'gangbusters' but now is the time to be patient
13 May 2021
Comments from the Fed governor:
Waller is a potential crack in the dam of dovish policy and isn't afraid to speak out but he's certainly sticking to Powell's lead here.
Read more
Waller is a potential crack in the dam of dovish policy and isn't afraid to speak out but he's certainly sticking to Powell's lead here.
US 30-year bonds sell at 2.395% vs 2.377% WI before sale
13 May 2021
Results of the 30-year bond sale
That's trouble. This was a $27B sale and that's a lot of bonds to swallow after you just saw a 0.9% m/m rise in core inflation. Equities slipped lower and the US dollar higher (particularly USD/CAD) after this sale.
Read more
That's trouble. This was a $27B sale and that's a lot of bonds to swallow after you just saw a 0.9% m/m rise in core inflation. Equities slipped lower and the US dollar higher (particularly USD/CAD) after this sale.
US bond auction coming up
13 May 2021
Big auction today of $27 billion in 30s
2.380%/2.375% on the bid/ask in the WI market ahead of the auction. Results shortly.
Read more
2.380%/2.375% on the bid/ask in the WI market ahead of the auction. Results shortly.
Bitcoin falls as Binance said to face investigations from US Justice Dept and IRS
13 May 2021
Report weights on bitcoin
Bitcoin is under pressure in a quick drop to $48,800 from $50,200 after a newswire report suggested that crypto exchange Binance is facing investigations from the Justice Department an the IRS.
Read more
Bitcoin is under pressure in a quick drop to $48,800 from $50,200 after a newswire report suggested that crypto exchange Binance is facing investigations from the Justice Department an the IRS.
BOC's Macklem: We're still quite comfortable with our projections
13 May 2021
BOC's Macklem:
Read more
Oil extends slump to 4% in a fall to the weekly low
13 May 2021
WTI down $2.65 to $63.42
There is some good news on oil today with Indian virus cases looking like they're cresting but there's no good news in the oil market.
Read more
There is some good news on oil today with Indian virus cases looking like they're cresting but there's no good news in the oil market.
Macklem Q&A: Canada is about 700,000 jobs shy of where it should be
13 May 2021
Comments from the BOC governor in the audience Q&A:
Macklem will hold a media Q&A at the bottom of the hour.
Read more
Macklem will hold a media Q&A at the bottom of the hour.
European equity close: Stock markets shake off the blues
13 May 2021
Closing changes for the main European bourses:
It was a mixed picture but it was a much nicer one than a few hours ago. The DAX had been down as much as 2.2% before finishing higher. That's an impressive turnaround.
Read more
It was a mixed picture but it was a much nicer one than a few hours ago. The DAX had been down as much as 2.2% before finishing higher. That's an impressive turnaround.
EURGBP moves back to 50% midpoint of the April/May range
13 May 2021
50% midpoint at 0.8595
The EURGBP has moved lower in the last hour or so of trading after a move higher earlier in the day. The move lower has returned to the 50% midpoint of the April/May trading range at 0.85952.
Read more
The EURGBP has moved lower in the last hour or so of trading after a move higher earlier in the day. The move lower has returned to the 50% midpoint of the April/May trading range at 0.85952.