Market Update

The Canadian dollar is flat on Wednesday, trading at 1.2685 in the North American session though Canada’s GDP outperformed in November, but the positive news was not enough to move the sleepy Canadian dollar. GDP expanded by 0.6%, above the consensus of 0.4%. The growth was broad-based across the economy …

The non-yielding precious metal is trading above $1805. The US ADP data was worse than expected; it could be a prelude to the Nonfarm Payrolls (NFP).The Gold Index (XAU/USD) climbs in the North American session as US T-bond yields led by the 10-year benchmark note fall three basis points, undermining …

The US national debt has crossed the $30 trillion mark for the first time amid pandemic-related government spending. This reading is the first time in history according to the Treasury Department.The federal government exceeded the troubling threshold following a wave of borrowing and spending during the COVID-19 pandemic.The national debt …

Only one day away from an awaited second successive BoE rate hike, the British pound has been trading on the front foot. The GBP/USD pair has recently surpassed its 21DMA at 1.3557 before running into resistance ahead of the 1.3600 level.At current levels in the 1.3560 territory, the pair trades …

Under strong pressures to act against surging inflation, the Bank of England looks ready to explain how it will reduce the vast pile of British government bonds it has bought over the last decade in repeated attempts to stimulate the economy.Most economists polled by Reuters think the BoE will on …

Markets are not expecting much from Thursday’s ECB meeting, but it could be positive for the EUR/USD. In December, the European Central Bank laid out plans for 2022, most notably ending the PEPP. The ECB is widely expected to leave its policy settings unchanged following the January policy meeting. In …

Employment in the US private sector fell by 301,000 in January, monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday, marking only the second month-on-month drop in employment since April 2020 when the US first went into lockdown. That was a huge miss on consensus …

Oil prices jumped on Wednesday towards a seven-year high hit last week as the United States’ move to drain its crude inventories underlined high demand and tight supplies, but investors remained cautious ahead of the OPEC+ group meeting later on Wednesday. Brent crude rose 23 cents, or 0.26 percent, to …

The euro rose on Wednesday for a third consecutive day, after hitting a 20-month low last week, as markets awaited inflation data in the eurozone for clues about the European Central Bank’s next move. The euro has come under pressure recently, falling 8 percent in three months, amid expectations that …

The US public debt has crossed the $30 trillion barrier for the first time ever, with government lending accelerating during the “Corona” pandemic to contain the virus’ repercussions on the economy. According to US Treasury data released on Tuesday, the US public debt has risen by about seven trillion dollars …