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USD/CAD Canadian Dollar Higher After Dollar Struggles

November 6, 2017 Alfonso Esparza 0

The Canadian dollar appreciated 0.29 percent on Monday. Trading opened for the USD/CAD at 1.2771 and is now on track to end near the 1.2721 price level. The economic calendar looks sparse this week, but geopolitical developments around the world are driving market movements. Oil prices have surged due to the high profile arrests in […]

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BOE Expected to Hike on Thursday But by How Many Votes?

November 1, 2017 Alfonso Esparza 0

The Bank of England (BOE) is widely expected to raise interest rates from record lows Thursday, but market participants will be closely watching for clues on what the U.K. central bank will do next. This will be one of the BOE’s most significant meetings in some time — not only because of the likely rate […]

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US Construction Spending rose 0.3% in September

November 1, 2017 Alfonso Esparza 0

The Commerce Department said on Wednesday that construction spending increased 0.3 percent to $1.22 trillion. But August’s construction outlays were revised down to show a 0.1 percent gain instead of the previously reported 0.5 percent rise. Economists polled by Reuters had forecast construction spending unchanged in September. Construction spending increased 2.0 percent on a year-on-year […]

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UK Manufacturing PMI Rises in October

November 1, 2017 Alfonso Esparza 0

British manufacturers reported robust growth last month and rising inflation pressure, an industry survey showed, adding to the chances that the Bank of England will raise interest rates on Thursday for the first time in a decade. The HIS Markit/CIPS manufacturing purchasing managers’ index (PMI) rose to 56.3 in October from an upwardly revised 56.0 […]

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TPP Nations Near Agreement Without US

November 1, 2017 Alfonso Esparza 0

The 11 remaining nations in the Trans-Pacific Partnership (TPP) without the United States edged towards sealing a comprehensive free trade pact after New Zealand agreed to amend laws that are not subject to TPP, to enable its ban on foreign home purchases. The pact aims to eliminate tariffs on industrial and farm products across an […]

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WTI Oil Enters Backwardation

November 1, 2017 Alfonso Esparza 0

Oil traders just provided another sign that the market is rebalancing. The WTI calendar spread for the next six months moved from “contango” into “backwardation” Tuesday. To explain, a calendar spread measures the difference in price between any pair of oil contracts with different delivery dates and can explain the current supply-demand balance in the […]

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EUR/USD Dollar Lower Against Euro Awaiting ECB Decision

October 25, 2017 Alfonso Esparza 0

European Central Bank Anticipated to Taper But Extend Duration The US dollar is mixed against major pairs on Wednesday. The greenback is weaker against the pound, euro, yen and Swiss franc and appreciated versus the commodity pairs (kiwi, aussie and the loonie). The Bank of Canada (BoC) kept rates unchanged and provided dovish comments that […]

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Muted US Inflation Derails Dollar Recovery

October 13, 2017 Alfonso Esparza 0

Global Political Uncertainty in Driving Seat The US dollar is trading lower on Friday after the consumer price index (CPI) and the preferred inflation metric the core CPI came slightly under expectations. Fed speakers had been divided in their comments leading up to the release. Doves thought it was a mistake to keep raising rates […]

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USD/CAD Canadian Dollar Lower After Oil Falters

October 12, 2017 Alfonso Esparza 0

The Canadian dollar depreciated on Thursday due to a report by the International Energy Agency that dampened the energy market’s optimism on demand growth. The IEA numbers put demand for Organization of the Petroleum Exporting Countries (OPEC) crude would be at around 32.5 million barrels which is 150,000 barrels below current production levels. The OPEC […]

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Japan US Trade Talks Scheduled for Next Week

October 12, 2017 Alfonso Esparza 0

Japanese Deputy Prime Minister Taro Aso and U.S. Vice President Mike Pence are likely to be at odds next week over U.S. calls to launch negotiations for a bilateral free trade agreement, Japanese government officials said Wednesday. A second round of the high-level economic dialogue, slated for Monday in Washington, comes as the United States […]

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