EUR/USD 1.18543
-0.105%
Gold 3672.25
-0.476%
Oil 64.048
-0.189%
USD/JPY 146.519
0.048%
GBP/USD 1.36365
-0.060%
GBP/JPY 199.806
-0.005%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to the Wall Street Journal: Ford Motor (FN) further cuts 1,000 jobs in Germany due to continued weak demand for electric vehicles.The European Parliaments head of metals will visit Kyiv, MEPs said.September 17th news: On September 17th local time, Krasnodar Airport in southern Russia received the first flight since its suspension of operations. This is also the first time the airport has resumed formal operations since its closure since the outbreak of the Russia-Ukraine conflict in February 2022.The number of rate cuts this year is expected to increase. 1. JPMorgan Chase: The updated dot plot indicates room for three rate cuts this year, one more than the June dot plot. 2. Deutsche Bank: The updated dot plot median may indicate a total of 75 basis points of rate cuts in 2025, 25 basis points more than the June forecast. 3. Barclays: The dot plot indicates three rate cuts this year, one each in 2026 and 2027, while the median long-term rate forecast remains unchanged at 3.0%. 4. Bank of Montreal: The median rate forecast for the end of 2025 is expected to be lowered to reflect the possibility of 25 basis point cuts at both the October and December meetings. The dot plot remains unchanged from June. 1. Pepperstone: The Federal Reserve is likely to disappoint market expectations. The dot plot median is likely to remain unchanged, still indicating only a cumulative rate cut of 50 basis points this year. 2. UBS: The dot plot will show two rate cuts this year, while the market expects closer to three. Participants economic outlook forecasts will also be in focus. 3. Bank of America: With macroeconomic forecasts largely unchanged, the median Fed rate forecast for 2025 will continue to indicate a 50 basis point cut, despite a downward shift in the overall dot plot. 4. Goldman Sachs: We expect the updated dot plot to show two rate cuts this year, to 3.875%. While the Fed may currently be planning three consecutive rate cuts this year, it may decide that forcing this into the dot plot is unnecessary. 5. Morgan Stanley: We expect the median dot plot to still show two rate cuts this year, but actual economic data may push the Fed to continue cutting rates throughout the rest of the year, extending this round of cuts into January. Other Views: 1. Citigroup: The updated dot plot is likely to indicate two to three rate cuts this year, and the median rate forecast for 2026 may also be revised downward.The UKs core CPI monthly rate in August was 0.3%, in line with expectations and the previous value of 0.2%.

The USD/CAD exchange rate bounces above 1.3550 ahead of the US GDP/ Durable Goods report, while oil prices surge

Daniel Rogers

Oct 27, 2022 15:31

 截屏2022-10-27 上午10.09.24.png

 

After a sharp fluctuation between 1.3533 and 1.3650 during the Tokyo session's late hours, the USD/CAD pair has moved sideways. The asset exhibits a rangebound structure between 1.3545 and 1.3822 in Asia. Prior to the release of crucial US statistics, it is anticipated that the major would remain sluggish.

 

In the meantime, market sentiment is quite upbeat, and risk-perceived currencies are reveling. The US dollar index (DXY) had a dead cat bounce after reaching a new monthly low of 109.56. While yields on 10-year US Treasuries are remain precarious and hovering around the 4% cushion.

 

Wednesday, after the Bank of Canada announced its interest rate decision, the Canadian dollar traded between 1.3545 and 1.3582. (BOC). Governor Tiff Macklem of the Bank of Canada (BOC) announced a 50 basis point (bps) rate increase, increasing borrowing rates to 3.75 percent. A smaller-than-expected hike in interest rates has stunned market participants.

 

In reference to the peak of inflationary pressures, BOC's Macklem remarked that the central bank is still a long way from accomplishing its goal of ensuring inflation is low, stable, and predictable. Concerning the course of policy, the Bank of Canada stated that they are reaching the end of the tightening phase, but are not quite there.

 

CIBC analysts expected the rate to peak at 4.25 percent despite the "slight softening" in comparison to previous increases.

 

On the front of the US dollar, it is expected that the US GDP rose by 2.4% in the third quarter, compared to a 0.6% fall. In addition, US Durable Goods Orders are predicted to climb by 0.6% versus a 0.2% decline.

 

As a result of the depreciation of the DXY and the adoption of sanctions against Russia, the oil price increase has accelerated. Despite the Energy Information Administration's report of an increase in oil stockpiles, the price of crude oil has risen to more than $88, reaching a high of approximately $88.01. (EIA). The oil stocks climbed by 2.588 million barrels for the week ended October 21, compared to the expected increase of 1.02 million barrels.


Suggestion