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Today’s Trading Edge: Oil climbs higher in light trade as several markets are closed for holiday

Posted by WorldWideMarkets . on Jun 25, 2017 8:16:48 PM

Oil prices rose around 0.5% in thin trading as Indonesia, Singapore, Malaysia, India and the Philippines were closed to observe the end of Ramadan.  Last week saw oil prices fall to a 10-month low before rebounding at the end of the week.

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Topics: US Oil, US Crude oil, $OIL

Today’s Trading Edge: USD/CAD loonie rallies as stronger retail sales raise expectations for a July hike

Posted by WorldWideMarkets . on Jun 22, 2017 6:17:02 PM

On Thursday, Statistics Canada showed retail sales beat the analyst forecast of 0.3% and rose 0.8% to $48.6 billion in April. Sales were up in 9 of 11 subsectors, representing 71% of total retail trade. Excluding sales at motor vehicle and parts dealers, retail sales climbed 1.5%.

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Topics: Bank of Canada, USDCAD

Today’s Trading Edge: NZD/USD rises as RBNZ keeps policy steady and does not indicate any rises in near future

Posted by WorldWideMarkets . on Jun 21, 2017 6:08:05 PM

The kiwi rallied after the Reserve Bank today left the Official Cash Rate (OCR) unchanged at 1.75%. The RBNZ highlighted that the global economic growth has increased and become more broad-based. However, major challenges remain with on-going surplus capacity and extensive political uncertainty. 

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Topics: NZD, RBNZ Monetary Policy

Today’s Trading Edge: EUR/GBP – Sterling crumbles as Carney signals now is not the time to raise rates

Posted by WorldWideMarkets . on Jun 20, 2017 6:56:38 PM

On Tuesday, Bank of England Governor disrupted speculation that he would support higher interest rates.  Delivering his Mansion House speech, the BOE head highlighted that inflation pressures are subdued and wage growth is anemic. 

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Topics: $GBP, Sterling

Today’s Trading Edge: Gold falls to a 5-week low as Fed seen as taking a more hawkish stance

Posted by WorldWideMarkets . on Jun 19, 2017 10:05:42 PM

Gold prices started the trading week lower as investors rushed to risk assets, supported by FOMC voter Dudley’s hawkish comments.  He noted that he is not worried that a flattening yield curves is a negative signal for US economy, but rather a reflection of global financial markets.  Dudley highlighted that he is confident that the current expansion has quite a long way to go and that he is generally pleased with US economy.  The market focused on Dudley’s stance that the recent data is unlikely to derail plans to keep raising interest rates. 

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Topics: precious metals, gold

 

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