Market Update

The US Dollar Index DXY gains 0.59% in the day, as USD bulls eye the 100 as the New York session winds down. The US imposes a new tier of sanctions against Russia.The US Dollar Index (DXY), a gauge of the American currency’s value against a basket of six rival …

US equities traded in choppy, mixed fashion on the final trading day of what has been an indecisive week.The S&P 500 opened 0.5% higher following positive Putin commentary on Ukraine, but skeptical investors have since pared these gains.US equities traded in choppy, mixed fashion on the final trading day of …

Data released on Friday showed the Canadian economy created more than 300K jobs in February, much more than expected. The numbers from the report are more than enough justification for another rate hike in April from the Bank of Canada. It may have still been outside, but the Canadian labour …

Federal Reserve officials next week will raise interest rates for the first time since 2018 and signal a faster pace of hikes in 2022, though policymakers may be cautious amid uncertainty due to Russia’s invasion of Ukraine.While markets expect six or seven hikes this year spread out during the Federal …

The US dollar edged higher on Friday while other safe-haven and commodity-linked currencies declined, after Russian President Vladimir Putin said there had been some progress in talks between Moscow and Ukraine.Putin said in a meeting with his Belarusian counterpart Alexander Lukashenko that there had been “certain positive shifts” in negotiations …

Russia ranks number one, two and three, among the world’s exporters of natural gas, oil and coal, respectively. Europe gets most of its energy needs from Russia. Russia also accounts for half of US uranium imports. It supplies a tenth of the world’s aluminium and copper, and a fifth of …

Gold has reversed its direction after rallying toward new all-time highs. The precious metal is set to extend its downward correction on a hawkish US Federal Reserve.The Fed is widely expected to kick off its tightening cycle with a 25 basis points rate hike when the two-day FOMC policy meeting …

After a historically volatile week, WTI is more subdued on Friday, remaining capped under $110 but supported above $104. WTI is on course for a weekly drop of over $7.0, which would be its worst one-week performance since November.Global oil markets look set to end a historic week of energy-related …

In a public address at the White House, US President Joe Biden confirmed on Friday that US would revoke permanent normal trade relations (PNTR) with Russia.US allies would also announce new actions against Russia on Friday, Biden said. The US is also to ban the imports of Russian luxury goods, …

The Canadian economy added 336,600 jobs in February, well above the median economist forecast for 160,000 jobs to have been added on the month, a report released by Statistics Canada on Friday showed. That marked a substantial improvement compared to January, when slightly more than 200,000 jobs were lost as …