The Canadian dollar was trading 0.1 percent lower at 1.2930 to the US dollar, or 77.34 cents, having recovered some of its earlier losses. The Bank of Canada raised its policy rate to 1.5 percent from 1.0 percent earlier this month, its second consecutive overshoot, and stated that it would act “more forcefully” if necessary …
Bank of Canada: high inflation ‘keeping us up at night Read More »
According to MKS PAMP metals strategist Nicky Shiels, the market is shifting as inflation fears give way to recession fears, with equity investors preferring cash to safe havens like gold. Gold’s volatility has been low in comparison to other assets, as the precious metal maintains its “mild bull market” status and trades comfortably between $1,800 …
Many countries complained that the resulting dollar weakness would hurt their trade in a low-growth world and force them to overheat by trying to match the Fed’s easy money in the 10 years after the US Federal Reserve originally set out on bond-paying quantitative facilitating to avert collapse. But that all changed after the Fed’s …
The rouble’s stunning rise in the months since has been cited by the Kremlin as “proof” that Western sanctions are ineffective. “The idea was clear: violently crush the Russian economy,” Russian President Vladimir Putin said last week at the annual St. Petersburg International Economic Forum. “They were not successful. Obviously, that did not occur.” On …
Russia’s rouble strongest in 7 years despite sanctions. Read More »
Bitcoin price is showing signs of exhaustion as it reverses its three-day bullish trend. As a result, Ethereum, Ripple, and other altcoins have taken a step back. Investors can expect this minor retracement to develop into a foothold that bulls will use to extend the run-up in the future. Bitcoin price falls below weekly open, …
Oil prices and the US dollar typically have an inverse relationship, so when one is high, the other is low, which helps to balance the financial impact on airlines that operate in other currencies. That correlation, however, has broken down in recent months, with the Ukraine war causing a spike in oil prices at a …
The yen has fallen to more than two-decade lows against the dollar, owing to Japan’s differing views on inflation from its global peers. A weaker yen can help or hurt the economy, businesses, and consumers. The severity of its decline, however, has raised concerns about the BOJ’s policy and the possibility of government intervention in …
Trading is a completely psychological game, which is why many experienced, knowledgeable, and skilled traders continue to suffer massive losses in the markets, and some of them remain poor despite years of experience. Because of their undisciplined psychology, if given another chance, they will repeat the same mistakes. Pure stupidity When presented with a complex …
Following a spike to near $123 per barrel last week due to a variety of global factors, crude oil prices fell by as much as 6%, or $11 to $112 per barrel, on June 17. This was a sharp reversal from the steep ascent that followed Russia’s invasion of Ukraine, with global travel opening up …
On June 15, the Federal Reserve raised its key interest rate by three-quarters of a percentage point, the largest increase since 1994, and central bankers signalled that they will continue to hike aggressively this year to combat inflation. Despite this, Bitcoin fell below $20,000 for the first time since December 2020, as evidence of escalating …
