Market Update

Canada’s Current Account for Q1 rose to C$5.0B from -C$0.1B in Q4 2021, bigger than the expected jump to C$3.2B, data released by Statistics Canada on Monday revealed. Positive moves in global commodity markets helped boost Canadian exports last quarter, and will likely do the same in Q2. 

The dollar extended its decline on Monday as risk appetite in the markets temporarily increased, buoyed by positive economic data and bets that the Federal Reserve will tighten monetary policy at a slower pace. And the US currency index, which measures its performance against six major currencies, is on its …

European Union leaders are set to agree at a summit later on Monday that the package of sanctions being prepared should include a ban on Russian oil imports as punishment for Moscow’s invasion of Ukraine, with the exception of pipeline supplies. But the leaders, who have been unable to agree …

European shares rose to surpass three-week highs on Monday as fresh stimulus measures in China boosted optimism that began last week, while investors looked forward to more economic data this week, including inflation in Germany. And the authorities in Shanghai, the Chinese commercial center, will cancel many conditions imposed on …

Gold prices rose in choppy trading on Monday, boosted by a weaker dollar, although some investors’ shift to riskier assets in Asia limited those gains. And gold rose in spot transactions 0.2 percent to $ 1856.86 an ounce at 0152 GMT. US futures rose 0.1 percent to $1,859.40 an ounce. …

Japan’s Nikkei index closed at its highest level in more than a month on Monday, boosted by equipment and technology shares, after stimulus measures in Shanghai and the easing of Covid-19 restrictions calmed fears of a sharp slowdown in China, the world’s second-largest economy. The Nikkei index rose 2.19 percent …

Wall Street closed sharply higher on Friday, as signs of inflation peaking and then data on consumer spending increased investor optimism that the Federal Reserve would be able to tighten monetary policy without pushing the economy into recession. All three major US stock indexes halted their longest streak of weekly …

The EUR/USD reached a fresh four-week high, around 1.0765, but in the last hour, retreated 30 pips, as the New York session come to close, on a positive trading session, courtesy of positive US data. At 1.0735, the EUR/USD is set to record weekly gains of 1.66% amidst a week …

Crypto traders remain committed to risk-off after having experienced nine-week decline. Bitcoin is expected to further fall 27% decline this month, although it is up 10% from its recent extreme low at $25,840 on 12 May.The most famous cryptocurrency declined by nearly 3% over the past 24 hours’ trading and …

While the United States did not lose the trade war, it has not won it either. China’s economy has more keenly felt the brunt of increased tariffs, but if the goal was to force China to change its unfair trade practices, that effort has fallen flat.The United States has long …