Investors are keen on the BOC interest rate decision scheduled for Wednesday.As a commodity currency, the declining oil prices have buoyed USDCAD above 1.2500. The US JOLTs’ job openings will further impact the pair in the ensuing sessions. BOC interest rate decision One of the key drivers of USDCAD in the new week is the Bank of Canada’s interest rate decision … [Read more...] about USDCAD Forecast Ahead of the BOC Interest Rate Decision
Forex News
Junk-Bond Managers Venture Into Unrated Debt
Source: The Wall Street Journal Record-low interest rates on riskier corporate bonds are pushing money managers to look further ahead in an effort to boost returns. DXY up +0.16%, EUR USD down -0.12%. Once reserved for the safest types of government bonds, some managers of speculative-grade bond funds are piling into debt with record-low credit ratings.No available … [Read more...] about Junk-Bond Managers Venture Into Unrated Debt
Weak Job Data Complicates Fed’s Taper Plans. Dollar Slips to a Month-Low
The dollar rose marginally by 0.05% on Monday, from a month low of 91.94 reached on Friday, following a below-estimate nonfarm payroll job adds of 235,000. DXY is up +0.15%. The dollar-plunge on Friday reflected investor concerns over the bond tapering plans by the Federal Reserve, with the central bank expected to use the payroll numbers to determine policy.Analysts see Fed … [Read more...] about Weak Job Data Complicates Fed’s Taper Plans. Dollar Slips to a Month-Low
Japan’s Premier Suga Steps Down, Two Former Foreign Ministers Lead Replacement Race
Source: Bloomberg Japanese Prime Minister Yoshihide Suga set forth plans to resign after failing to control the country’s COVID-19 surge, with two former foreign ministers are seen as leading the pack to take over. JPY USD up +0.24%, Nikkei 225 up +2.05% In a shocking announcement, Suga stated that he could not campaign for reelection as a leader of the Liberal Democratic … [Read more...] about Japan’s Premier Suga Steps Down, Two Former Foreign Ministers Lead Replacement Race
US Job Growth Cools to Seven-Month Low of 235,000
Source: Bureau of Labor Statistics US jobs climbed slower than expected in August, bringing growth to a seven-month low. Nonfarm payrolls grew 235,000 in August. This is up from 1.05 million in July and 962,000 in June.The biggest gains were seen in professional and business services, transportation and warehousing, private education, manufacturing, and other … [Read more...] about US Job Growth Cools to Seven-Month Low of 235,000
