Market Overview - Page 53

The Canadian dollar rallied on the release of January’s employment figures. However, it will be difficult to sustain the gains and build on the offensive if we focus only on the data released. According to StatCan, employment grew by 37.3K.

Copper exchange prices on Thursday fell to their lowest since November, approaching $8200 a tonne and breaking out of the broad consolidation range of the past two months. A move out of the $8250-8700 range technically leaves copper vulnerable to.

Inflation in China remains below expectations, adding to investor concerns about the world’s second-largest economy. The consumer price index for January was 0.8% lower than a year earlier, more than the 0.3% drop in December and the 0.5% expected. Recall.

The euro is back at 0.8520 against the pound. The pair bounced off this level in June and August last year. Reaching the same level in late January triggered a shake-out, but active declines resumed on Tuesday and Wednesday, and.

Industrial orders rose 8.9% in December against expectations for a 0.1% decline, a rare positive for Germany that the euro chose to ignore. This is the most robust monthly increase since mid-2020’s lockdowns. In the same month last year, the.

The Reserve Bank of Australia kept its cash rate unchanged at 4.35% for the third consecutive meeting. The markets widely expected the decision, but the tone of the accompanying commentary was more hawkish than the market had anticipated, adding to.

Friday’s US Non-farm Payrolls figures triggered a rally in the dollar. At the beginning of last week, the market also responded to the FOMC’s comments with dollar buying. In other words, the two main market drivers were working in the.

The US Federal Reserve left its key interest rate unchanged but altered its rhetoric, suggesting that the next step will be an easing of policy. At the same time, Powell went out of his way to tamp down expectations of.

The pause in the currency market is dragging on. Over the past two weeks, the Dollar Index has risen 0.15%, although intraday volatility has been within normal limits. This is by no means a balanced market but rather a manifestation.

It’s not often that Europe produces better-than-expected economic data these days, and today was a rare exception. According to preliminary estimates, eurozone GDP was virtually unchanged in the final quarter of last year, compared with an expected contraction of 0.1%..

Gold rose to $2,040 per troy ounce on Tuesday morning, a two-week high. The positive momentum is being driven by risk appetite on global platforms. One of the reasons for the increase in demand for the metal could be the.

America continues to release strong macro data, with a fresh batch of GDP and New Home Sales figures coming above expectations, supporting dollar-buying interest late in the day. The US economy grew at an annualised rate of 3.3% in the 4th.