Market Update

Wall Street major indices edged lower with the exception of Dow Jones Industrial that was the main winner of Tuesday’s US session. Higher US Treasury yields have impacted heavy-tech company earnings, spurring a selloff of tech stocks. Sector-wise, the main winners are energy, financials, and real-estate, rising 3.06%, 1.24%, and …

The Canadian dollar benefited from the rise in global oil prices, despite the Biden administration’s announcement to release 50 million barrels of US strategic oil reserves in an attempt to tame the sharp rises in fuel prices in the United States.The Canadian dollar rose, pushing the USD/CAD pair down, to …

The Dow Jones Industrial is the main winner of Tuesday’s US session. Higher US Treasury yields have impacted heavy-tech company earnings, spurring a selloff of tech stocks. During the New York session, major US equity indices edged lower as Wall Street approaches the close. The S&P 500 loses 0.35%, sitting …

Oil futures rose sharply Tuesday after the Biden administration announced a coordinated, US-led effort by energy consuming countries to release strategic crude reserves.The coordinated move had been well-telegraphed. News reports speculating on potential releases from the Strategic Petroleum Reserve and talk of a coordinated effort, lately joined by India, and …

The US dollar extended its gains, reaching fresh 2021 highs vs the EUR and the GBP. EUR/USD bottomed for the day at 1.1225, while GBP/USD fell to 1.3341. The sour tone of global indexes and higher government bond yields fueled demand for the safe-haven dollar.Bank of England governor Andrew Bailey …

Canadians high household debt levels are becoming a persistent concern despite the massive fiscal support offered by the federal government during the COVID-19 pandemic according to statements by a senior Bank of Canada official, Tuesday.Deputy Governor Paul Beaudry said the prevalence of highly indebted households, which are defined as those …

On Tuesday, the EUR/USD pair is slightly up by 0.14% after moving from a 1.1226 low and reaching as high as 1.1275. However, not much more can be expected on a day where markets are subdued ahead of the Thanksgiving Day holiday Thursday in the US and key data Wednesday. …

Output growth across manufacturing and services measured by the PMI surveys came in slightly faster than expected in November.Solid service sector growth that far exceeded the pre-pandemic long-run average contrasted with only modest production growth in the manufacturing sector.Employment rose for the ninth successive month in November, according to the …

US Treasury yields edged higher in uneven trading in a holiday-shortened week on Tuesday as investors prepared for the Federal Reserve to become more aggressive in fighting inflation after Biden nominated its chair Jerome Powell for a second term. The yield on 10-year Treasury notes was up 3.1 basis points …

Policymaker Jonathan Haskel indicated, Tuesday, that the Bank of England needs to be watchful about rising labour costs as a tight job market means wages might rise faster than productivity and put upward pressure on inflation.BoE Governor Andrew Bailey says interest rates are likely to rise and investors see a …