Cable slipped this morning to year-to-date lows below 1.32, as imminent further restrictions may be announced by the UK government due to the new Coivd-19 variant. A press conference is rumoured to be scheduled for 17.30 GMT today after the …
The Bank of Canada becomes the second major central bank to meet amid the rapid spread of the Omicron variant. Policymakers are appearing to have different takes on the impact on economies. The upbeat messages from the Fed and earlier …
The aussie is bouncing today on the more positve risk mood, but it is the worst performing major currency so far in December. This tops off a year to forget for the risk-sensitive, high yielder which has been hit on …
The dollar is making some gains this morning after deleveraging across the week abated and risk sentiment has turned more positive. It is noticeable that US Treasuries, which are closely correlated to USD/JPY, have been underperforming since Fed Chair Powell …
Sterling is the strongest major currency today but has been a little forgotten among all the recent volatility. That may be because it sits between safe haven currencies like JPY and CHF, and higher-yielding, more risk-on ones like AUD and …
CAD losses have been seen this week chiefly due to declines in crude oil prices. These have steadied overnight but both Brent and WTI still trade below their 200-day SMAs. Tomorrow’s widely watched OPEC+ meeting takes place amid huge uncertainty …
AUD/USD clings to support around August lows The aussie, like all risky, high yielding currencies has endured a lengthy losing streak in recent weeks. AUD/USD topped out at 0.7555 late last month. The major has moved swiftly lower in a …
It’s obviously unwise to be putting a lot of risk to work in the current environment. We are back to being amateur epidemiologists, or more likely watching and listening to the wires for any concrete clarity about Omicron. Risky assets …
Safe havens are soaring and risk assets tanking on Black Friday. It’s an early close in the US for major markets so volumes are less than normal as traders take an extended Thanksgiving break. This will potentially exacerbate price action. …
With oil prices stabilising, CAD has enjoyed a better week. The Bank of Canada’s relatively hawkish outlook also bodes well for more gains further out. Employment is back to pre-pandemic levels and punchy inflation could see the BoC hike rates …
