Oil prices could soar to $120 a barrel if Russia’s crude exports are derailed by tensions with Ukraine, according to projections from JPMorgan.The forecast underscores how a potential invasion of Ukraine would cause wide-ranging ripple effects that would be felt by inflation-weary consumers around the world. Any disruptions to oil …
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In the New York session, the USD/CAD pair trims Monday’s losses and reclaims the 1.2700 figure as the Canadian dollar weakens, as oil prices fall, a headwind for the Canadian dollar. At the time of writing, the USD/CAD is trading at 1.2702.On Tuesday’s, Western Texas Intermediate (WTI), the US crude …
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The latest batch of Canadian employment data will hit the markets on Friday. So far, it looks that the Omicron wave hit the labour market in January, with forecasts pointing to a drop of jobs. This is probably a temporary setback. The loonie has been driven mostly by risk sentiment …
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The USD/CAD has traded in a relatively directionless fashion on Thursday, initially strengthening towards above 1.2700 as the Canadian dollar weakened in tandem with an earnings-driven downturn in global equities, but more recently dropping back to the 1.2675 area on rising oil prices.At current levels, the pair is back to …
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The US trading session closed on Wednesday with mixed results, most notably the decline of the US dollar and the New York Stock Exchange at the same time due to negative employment data.Economic dataThe reading of the index of change in employment in the non-agricultural sectors in the United States …
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US equities dipped again on Wednesday, with the S&P 500 failing to reclaim 4600 and down over 4.0% in 2022. The Nasdaq 100 dipped 0.2% and the Dow fell 0.3%.US equity markets have been under selloff pressure on Wednesday, with markets under fears about Fed tightening and higher interest rates, …
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The coming oil surplus could be much smaller than expected and could exert much less downward pressure on oil prices this year.Demand remains strong as signaled in the six-month futures spread in Brent which has more than doubled since hitting a low point in December.At the start of 2022, Omicron’s …
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The US dollar sharply fell on Tuesday, following remarks by US Fed Chair Jerome Powell. In the hearing before the Senate on the occasion of his re-nomination for a second term, the US central bank Chief mixed hawkish view of the economy with watchful approach to the federal balance sheet …
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WTI slipped back under $79.00 on Friday but remains on course for substantial weekly gains. Supply as well as geopolitical issues have been key drivers of oil this week, with the broader macro-economic story taking a back seat. Oil prices have come under modest selling pressure on the final day …
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The USD/CAD pair has traded indecisively on Wednesday and is one of the worst G10 performers despite higher oil prices.A hot US ADP report and mixed Canadian housing data was ignored, with markets focused on the Fed’s December meeting minutes.USD/CAD has traded hesitantly within a relatively thin 1.2700-1.2750 range, roughly …
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