Market Update

The Canadian Consumer Price Index (CPI) rose in January 0.9% above the 0.6% of market consensus, showed data released on Wednesday.Analysts at the National Bank of Canada point out that annual inflation continues to rise with widespread price increases despite the slowdown in economic activity in January. Key Quotes: “The …

Crude oil prices have seen substantial upside in recent trade as market participants fret amid confusion over whether Russia is actually withdrawing some troops from its border with Ukraine as is said it would on Tuesday.Western leaders, government and intelligence officials have been loudly warning, including remarks most recently from …

The headline Canadian Consumer Price Index (CPI) rose at an annual pace of 5.1% in January, above median economist forecasts for a pace of 4.8% and above December’s 4.8% YoY rate of price growth, according to data released by Statistics Canada on Wednesday. MoM, headline price growth came in at 0.9%, well …

The dollar fell on Wednesday for the second day in a row as investors eased concern about the possibility of Russia’s invasion of Ukraine and awaited the minutes of the Federal Reserve (US Central Bank) meeting for the month of January. Movements were small in the currency markets, and the …

Gold prices rose on Wednesday after falling in the previous session with the yellow metal retaining its allure as a hedge against inflation ahead of the release of the minutes of the Federal Reserve meeting later on Wednesday. Spot gold rose 0.1 percent to $1,854.97 an ounce by 1030 GMT. …

International Energy Agency Director Fatih Birol said on Wednesday that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the cartel is known as OPEC+, must narrow the gap between their production targets and actual production. “There is a significant difference between the targets that OPEC+ countries set …

European shares posted cautious gains on Wednesday, buoyed by hopes of easing tensions between Russia and Ukraine, although the rise of Britain’s blue-chip index remained limited by accelerating inflation. The pan-European STOXX 600 index rose 0.2 percent by 0810 GMT, after rising 1.4 percent in the previous session, when Russia …

Oil prices recouped some of their losses Wednesday, February 16, as investors evaluated conflicting statements about a possible withdrawal of some Russian troops from Ukraine’s borders, amid global supply shortfalls and rebounding fuel demand. Brent crude was traded at $93.86 a barrel at 10:00 GMT, up 62 cents, or 0.6%, …

Industrial Production in the euro area increased by 1.2% on a monthly basis in December, Eurostat reported on Wednesday. This reading followed November’s expansion of 2.4% but surpassed the market expectation of 0.3%. In the EU, Industrial Production was up 0.7%. On a yearly basis, Industrial Production in the euro …

Statistics Canada will release January Consumer Price Index (CPI) data on Wednesday, February 16 at 13:30 and as we get closer to the release time, here are the forecasts by the economists and researchers of three major banks regarding the upcoming Canadian inflation data. NBF “While we expect strong print …