Annual headline inflation in Canada jumped to 6.7% in March, according to the latest Consumer Price Index (CPI) figures released by Statistics Canada on Wednesday. That was well above the median economist forecast for a rise to 6.1% from 5.7% YoY in February. The larger than expected jump in the …

Bundesbank President and ECB governing council member Joachim Nagel said on Wednesday that he expects the ECB’s first rate hike to come in Q3 of this year, though he also said he is against hasty rate hikes. Nagel warned that getting inflation back to the ECB’s 2.0% target is looking …

Money flowed out of bonds again, sending the 10-year Treasury yield higher by 4 basis points to 2.9%. The bond market continues to price in aggressive rates by the Federal Reserve this year.Economic DataHousing Starts rose by 0.3% in March, taking the rolling 12-month number of starts to 1.793M, above …

Crude Oil has been bullish since US WTI crude reversed from $-37.50 two years ago. It headed toward $100 where it traded for some time, but the conflict in Ukraine last month sent it surging higher, especially when the US president Joe Biden decided to place sanctions on Russian oil. …

The Swiss National Bank sees the current increase in inflation as a temporary phenomenon, Chairman Thomas Jordan said on Tuesday, although the central bank would keep a close eye on the situation.Central banks including the US Federal Reserve and the Bank of England have started raising interest rates to fight …

Atlanta Fed President and FOMC member Raphael Bostic on Tuesday reiterated the important of getting rates to neutral territory “expeditiously”, though cautioned that a 75 bps rate hike is “not on the radar”.Bostic said he estimates the neutral rate to be around 2.5% and feels the US economy is strong …

Chicago Fed President and FOMC member Charles Evans on Tuesday pushed back against the idea of larger than 50 bps rate hikes at upcoming Fed meetings, saying that he doesn’t see the need for them, reported Reuters. Evans said he is comfortable with a rate hike path this year that …

An optimistic earnings outlook helped push Wall Street higher on Tuesday, while concerns over global economic growth and expectations on recession heavily weighed on oil and boosted bond yields.The tech-heavy Nasdaq led the way for gains in U.S. markets, shaking off lower trading in Europe. With many corporations beginning to …

The Bank of Japan will face increasing political pressure if the Japanese yen slides further, say analysts from Danske Bank. They forecast the USD/JPY pair at 126 in one month, 125 in three months, 123 in six months and 119 in a year. Key Quotes: “Bank of Japan has fiercely …

The USD/CAD trims Monday’s losses and stages a comeback, soaring in the North American session above the 1.2600 mark, approaching the 50-day moving average (DMA) at 1.2651. The USD/CAD is trading at 1.2625.Market sentiment and hawkish Fed lifted the USD/CAD above 1.2600. The market sentiment remains mixed. European equities are …