Tag Archive: Canada
Bi-Weekly Economic Review: Attention Shoppers
The majority of the economic reports over the last two weeks have been disappointing, less than the consensus expectations. The minor rebound in activity we’ve been tracking since last summer appears to have stalled. Retail sales continue to disappoint and inventory/sales ratios are once again rising – from already elevated levels.
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FX Daily, May 19: Markets Trying to Stabilize Ahead of Weekend
Judging from investors' reactions, the only thing worse that than the low volatility environment is when volatility spikes higher, as it did yesterday. Higher volatility is associated with weakening equity markets, falling interest rates, pressure on emerging markets, a strengthening yen and, sometimes, as was the case yesterday, heavier gold prices.
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Trade Notes: China and Prospects for a New Executive Order
China's trade concessions seem modest, but little discussion of US concessions. Reports suggest Trump is set to sign a new executive order to investigate trade practices in steel, aluminum, and maybe household appliances. Trade imbalances and floating currencies are not mutually exclusive.
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FX Daily, April 12: Investors Catch Breath, Markets Stabilize
Markets are calmer today. The significant movers yesterday have stabilized. The dollar has been unable to resurface above JPY110, but after plumbing to new lows near JPY109.35 in Asia, the dollar has recovered back levels since in North America late yesterday. The decline in the US 10-year yield was also initially extended in Asia before stabilizing and returning to levels seen in the US afternoon.
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FX Weekly Preview: A New Phase Begins
There were no celebrations; no horn or trumpets, nary a sound, but an important shift took place last week. The shift was signaled by two events. The first was the US strike on Syria, and the second was investors' willingness to look past Q1 economic data.
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US Jobs Growth Disappoints
The US jobs growth slowed considerably more than expected in March and the disappointment pushed the dollar and equities initially lower. The US created 98k jobs in March, well below market expectations for around 175k jobs. Adding insult to injury, revisions to the January and February data took off another 38k job.
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US Jobs Data Maintains Fed Hike Expectations
US jobs data was largely in line or better than expected. The stronger earnings growth may be more important than the headline. Canada's data was mostly disappointing.
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