Crude oil prices edged higher on Friday following statements by OPEC+ that the group could review its policy to hike output if a rising number of pandemic lockdowns obstructs off demand.Brent futures rose 90 cents, 1.3%, to $70.57 a barrel, while US WTI rose 55 cents, 0.8%, to $67.05. Losses …

November’s NFP data showed an increase in payrolls of 210000, significantly below the 550000 expected. According to Wells Fargo’s analysts, this reading is clear evidence that nonfarm payrolls are below consensus expectations. They add that a slower pace of wage growth may slightly ease some concerns about a wage price …

Next week, on Wednesday, the Bank of Canada (BoC) will have its monetary policy meeting. Analysts tend to expect a relatively quiet meeting. They consider the BoC will maintain the view that the outlook is evolving as expected and that inflation is transitory. BoC meeting would be with limited scope …

Stocks are churning in mixed trading on Wall Street, Friday, following a disappointing jobs report, as markets continue to twirl at the tail end of a dizzying week.The S&P 500 was 0.1% lower, as of 9:50 a.m. Eastern time, after an early 0.7% gain quickly vanished. It’s coming off a …

US President Joe Biden said on Friday that price pressures would ease as the global economy improves. “Gasoline price drops are beginning to reach Americans and this should pick up, he added, saying that China might also decide to release more oil, though it has not done so just yet.

St Louis Fed President James Bullard said on Friday said that he expects an upwards revision to the November NFP number, as this is a tight labour market. The US economy will be below 4% unemployment by Q1 2022, he added. Additional Comments:“Sticking with forecast for two rate hikes in …

According to US Census Bureau data, US Factory Order rose 1.0% MoM in October. This reading is above the expected 0.5% gain and marked an acceleration on the 0.5% MoM gain seen back in September.Excluding transportation, orders were up 1.6% on the month also marking an acceleration on September’s MoM …

Headline ISM Service PMI rose to 69.1 in November. The new reading has marked a record-high going back to 1997 when the survey began. The Institute of Supply Management’s headline Services PMI index rose to a fresh record high at 69.1 in November versus forecasts for a modest fall to …

US Nonfarm Payrolls rose at a much slower pace than expected in November. However, an underwhelming print did little to undermine the USD. It will be very difficult to sell the USD as a thematic strategy given the global monetary policy setup. Fed’s hawkishness to be a significant offset to …

US Nonfarm payrolls report rose by 210000, lower than the expected 550000. Canadian Employment Change increased 5 times as many as estimations while the Unemployment Rate has fallen.USD/CAD threatens to break the 200-hour SMA, that once breached, would send the pair dipping towards 1.2700.During the New York session, the USD/CAD …