BoC

The Bank of Canada was seen hiking interest rates at its monetary policy meeting on Wednesday in what was a close call. However, economists were expecting the BoC to hike rates. The BoC signaled that there was room for more rate hikes and the hawkish forward guidance comes amid mounting trade tensions with the United States. The Bank of Canad...

2018-07-19 John Benjamin Read more
boc interest rates

The Bank of Canada will be holding its monetary policy meeting today on 11th July 2018. According to the economists polled, the Bank of Canada is expected to hike interest rates by 25 basis points to 1.50%. However, approaching the event the central bank decision to hike rates remains a close call. The Governor of the Bank of Canada, Stephen ...

2018-07-11 John Benjamin Read more
canada unemployment rate

Canada’s monthly jobs report showed that the economy added a healthy gain of 31,800 jobs in the month of June. But this wasn’t enough to keep the unemployment rate steady. Canada’s unemployment rate jumped two percentage points to 6.0%. In May, the unemployment rate held steady at 5.8%. This was the first time that Canada’s unemployment rate ...

2018-07-09 John Benjamin Read more

 EURUSD Non-Commercials reduced their net long positions in the Euro last week selling 2k contracts to take the total position to 34k contracts. EUR long positioning continues to be steadily reduced as the market digests the ECB’s announcement at its last meeting that it will be winding down QE by year end but plans to keep rates unchanged ...

2018-07-09 James Harte Read more

The economic calendar for the week ahead is relatively quiet following a busy start to the month last week. Among the central bank meetings, the Bank of Canada's monetary policy meeting stands out. Heading into the BoC meeting, the markets are somewhat divided on whether the BoC will hike rates or not this week. The European Central Bank will...

2018-07-09 John Benjamin Read more
central bank

The Fed: Gradual Policy Tightening In Full Swing The Fed has reaffirmed its commitment to sticking to its plan of “gradual” policy normalisation with two more hikes forecast this year. The economic outlook is good, with the economy on track to grow by around 4% in Q2 2018, boosted by tax cuts with inflation continuing to creep higher. Employmen...

2018-07-05 James Harte Read more

The month of June stood out with two major central banks taking monetary policy decisions. The U.S. Federal Reserve hiked interest rates by 25 basis points while the European Central Bank announced a modest taper to 15 billion euro starting from September and eventually ending its QE program by December 2018. The U.S. dollar continued to main...

2018-07-03 John Benjamin Read more
bank of canada

The Bank of Canada held its monetary policy meeting last week. Interest rates were left unchanged at 1.25% as widely expected. But, the central bank surprised by signaling that the next rate hike could be coming soon despite uncertainties surrounding global trade. The BoC has hiked interest rates three times since mid last year. This came aft...

2018-06-08 John Benjamin Read more
Canadian May Retail Sales and Inflation

On Friday last week, the Canadian May Retail Sales and Inflation economic data was released. The mixed results saw the markets clearly divided on the next monetary policy move from the Bank of Canada. Data from Statistics Canada showed that the annual inflation rate grew at a slower pace. However, inflation still remained above 2% for the thi...

2018-05-25 John Benjamin Read more
CAD: Expectations Vs Reality

You must be wondering why I keep writing about the Canadian dollar. My first article for this column was on September 13, followed by October 11 and January 17. Over the last 12 months, the Canadian dollar has risen 8% against the US dollar. It is the strongest currency among the G10 currencies over the last 4 weeks. So, what happened to the cur...

2018-04-24 Ashraf Laidi Read more