Canadian Dollar

Global Markets Rebound As Tech Rout Ends; Sterling Rises

As the Fed begins its two-day meeting, global stocks have recovered their footing and European shares rise, led by a bounce in tech stocks as last Friday's global selloff that started in the sector shows signs of abating. Asian stocks and U.S. futures gain as investors turn their attention to today's Jeff Sessions testimony as well as tomorrow's barrage of macro data including Yellen, CPI and retail sales.

Is This The "Mystery" Massive Long Supporting The Oil Market?

"I know this theory is a little out-there. But I look at the recent expansion of crude oil net positioning, and it just doesn’t reflect what I see in the market. China as a big silent buyer is a much more plausible explanation than the fact hedge funds are net long record crude oil because they are so bullish."

Global Rally Fizzles After "OPEC Shock" In "Slow Risk-Off Session"

S&P futures were fractionally lower from yesterday's record high as European stocks declined and Asian stocks were mixed, pressured by yesterday's 5% plunge in crude after OPEC unexpectedly "failed to surprise" markets, and announced the bare minimum supply cut extension that was expected by oil traders, who in turn puked long positions.

Why The Chinese Yuan Won't Be The World's Reserve Currency

"The desirable goal of reforming the international monetary system, therefore, is to create an international reserve currency that is disconnected from individual nations." Disconnected from the dollar, yes - but not connected to the yuan...

Europe, US Futures Slip Despite Brent Bouncing Back To $51

Asian stocks rise lifted by commodity names; European equites trade mostly lower but with little in the way of conviction or firm direction while the Italian banking index is at the highest level in a year following domestic earnings; S&P index futures are modestly in the red after the cash market closed at a record high Wednesday and investors prepared for earnings from retailers.

Speculators Have Never Been More Bearish On The Loonie

Since President Trump met his Candian counterpart Justin Trudeau in mid-February, speculators have piled into bearish Canadian Dollar positions. In fact, between imploding housing bubbles, crashing oil prices, and escalating trade wars, bets on a battered Loonie have never been higher...

Oil Fireworks Unsettle Global Markets Ahead Of Payrolls Report

With all eyes on crude, following last night's mini flash crash which sent WTI lower by 3% from just above $45 to under $43 in under 10 minutes, equity markets, generally quiet overnight, have taken on a secondary importance ahead of today's key risk event, the April payrolls report. In global equities, Asian and European stocks are lower, while S&P futures are little changed.

And The Worst-Performing Currency Since Trump's Election Is...

Putting aside the hyperinflationary collapse of Venezuela's black market Bolivar, the Mexican Peso continues to languish since Donald Trump was elected President in Nov 2016 as trade wars and border wall discussion weigh the currency down. On the other hand, amid economic stumbles and nuclear armageddon on its doorstep, the Korean Won is outperforming...

Stocks Dazed After Trump NAFTA Flop, Tax Plan Disappointment; ECB Looms

European shares are lower, pressured by disappointing results by Deutsche Bank and ending a six-session gain, as Asian equities and S&P futures were little changed after a record-setting rally in world stocks which pushed the MSCI World index to over $50 trillion yesterday, fizzled after Trump released unconvincing tax cut plans prompting traders to "sell the news" while caution set in as the ECB met.

World Stocks Hit All Time High, S&P Futures Rise To Within 1% Of Record

World stocks hit a new record high on Tuesday, with investors still cheering Macron's victory in the first round of the French presidential election, supported by speculation about U.S. tax reform and the overnight report that Trump has conceded on the border wall, eliminating a government shutdown as a potential risk.

Europe And S&P Futures Higher, Dollar Drops As OPEC Talks Oil Up

European stocks rose amid earnings beats, offsetting weakness in the energy sector and easing investor concerns ahead of the weekend’s French election. Asian shares and U.S. futures also rise. The dollar weakens against the euro and most crosses, while crude oil rebounds following renewed OPEC chatter of a production cut, this time with Saudi Arabia seemingly onboard.