Forex Market

The GBP/JPY has reached a fresh two-day high at around 163.62. Investors’ optimism augmented their appetite for risk-sensitive currencies like the pound.The pair erases Wednesday’s losses and soars on Thursday amidst a risk-on impulse that augmented appetite for riskier assets, meaning safe-haven peers sustaining losses. The pair is trading at …

Fed’s Bullard: We’ve got a good chance at a soft landingCEO of the Federal Reserve Bank of St. Louis. James Bullard has said that rather than stagflation, a better bet is growth will slow to trend and that inflation will come under control rapidly.Key comments by BullardThe labor market could …

Data released on Thursday showed an increase in the trade surpluses from CAD 2.17 billion to 5.32 billion in May. Analysts at CIBC warn the increase could be temporary considering it was driven in part by a strengthening in oil prices which has reversed more recently.Key Quotes: “The goods trade …

Canadian economic activity expanded at its slowest pace in four months in June as prices cooled, Ivey Purchasing Managers Index (PMI) data showed on Thursday.The seasonally adjusted index fell to 62.2 from 72.0 in May, its lowest level since February. The Ivey PMI measures the month-to-month variation in economic activity …

European Central Bank Governing Council member Yannis Stournaras noted on Thursday that the monetary policymakers are not observing excessive wage demand in Europe.In the meantime, ECB policymaker and Governor of the Central Bank of Cyprus Constantinos Herodotou said that they are not targeting exchange rates while adding that they do …

The head of the International Monetary Fund on Wednesday said the outlook for the global economy had darkened significantly since April and she could not rule out a possible global recession next year given the elevated risks.Recession-linked fears are still accelerating and leading the way across all financial markets and …

The USD/CAD pair remains pressured around 1.3030, extending the previous day’s pullback from the highest levels since late 2020, as traders pare USD gains amid a quiet Asian session on Thursday. It is worth noting that the bounce in the prices of Canada’s main export item, WTI crude oil also …

While the calendar’s second half of the year started last Friday, on the first of July, it will practically begin in the financial markets with the upcoming US jobs data scheduled to be released this Friday. Non Farm Payroll data will be very useful to gauge where the USD currently …

Following data showing consumer prices running at an 8.6% 12-month rate and inflation expectations rising, the rate-setting Federal Open Market Committee chose the most tightening path.Fed Officials indicated a series of increases that would take the funds rate to 3.4% this year, above the longer-run neutral rate of 2.5%. Futures …

The head of the International Monetary Fund (IMF) on Wednesday said the outlook for the global economy had darkened significantly since April and she could not rule out a possible global recession next year given the elevated risks.IMF Managing Director Kristalina Georgieva told Reuters the fund would downgrade in coming …