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"canadian dollar" tag
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Canadian Dollar Plays A Little Catch-Up, Rises to best Level in Nearly Seven Weeks

The US dollar is narrowly mixed against the G10 currencies. The Canadian and Australian dollars lead the advancers, while the Scandis are pacing the losers off 0.1%-0.2% in quiet turnover. Most the freely accessible emerging...

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Dollar and Rates Soften a Little Ahead of US CPI

The focus is on the US CPI report today, but the price action is anything but intuitive. Although the revisions of the basket and methodological changes reinforce expectations for the largest rise in three months,...

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The Dollar may Stabilize Ahead of the FOMC

Verbal intervention proved sufficient to keep the US dollar below JPY145, but the greenback gained broadly. It rose to new two-year highs against the dollar-bloc and Chinese yuan ahead of the weekend and to levels against...

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Macro and Prices: Sentiment Swings Between Inflation and Recession

The market is a fickle mistress. The major central banks were judged to be behind the inflation curve. Much teeth-gashing, finger-pointing. Federal Reserve Chair Powell was blamed for denying that a 75 bp hike was under...

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Risk Appetites Remain Fragile

The sentiment that fueled the recovery in US equities before the weekend carried over into today.  Several Asia Pacific centers, including China, Taiwan, and South Korea were closed today, but Japan, Hong Kong, and India...

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Federal Reserve and Bank of Canada Meet as Risk Appetites Stabilize

After a slow and mixed start in Asia, where Australia and India are on holiday, equity markets have turned higher.  Europe’s Stoxx 600 is up around 1.9% near midday in Europe, which if sustained would...

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Powell Sent the Dollar Lower. Will the August Jobs Data Bring it Back?

Federal Reserve Chairman Powell’s long-anticipated speech at Jackson Hole provided fireworks but not quite what the market had expected.  Confirmation of tapering was supposed to lift US rates and the dollar. Instead, the opposite took...

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Dollar Rally Stalls on Softening Rates and Dramatic Drop in Consumer Confidence

Profit-taking on long dollar positions was seen ahead of the weekend.  The yield on the December 2022 Eurodollar futures slipped to finish unchanged on the week that saw CPI and PPI reports. The preliminary University of...

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Did Japan Deliver a Fait Accompli to the US?

The biggest rally in US equities in four months has helped stabilize global shares today.  In the Asia Pacific region, Japan, China, and Australian markets advanced.  Led by information technology and consumer discretionary sectors, Europe’s...

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Dollar’s Upside Correction Stalls after 3-4 Weeks of Gains

The greenback had a tough week. It fell against most currencies. Our GDP-weighted currency index snapped a three-week drop, which ended an eight-week advance. The combination of a seemingly more hawkish Federal Reserve and position...

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Without Yield Support, the Dollar Wilts

Falling US yields weigh on the US dollar.  The 10-year Treasury yield is flirting with the 1.50% mark, and the greenback is trading heavily against all the major and most emerging market currencies. European and...

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Thoughts on the Price Action

The market has not changed its mind. Following Brainard’s comments yesterday the market had downgraded the chances, which were already modest, of a Fed hike next week. The September Fed funds futures is unchanged on...