Category: Strategy Management

– Cautious start to busy week.

– FOMC meeting headlines risk events

– US dollar opens narrowly mixed after subdued overnight session.

USDCAD snapshot open 1.3316-20, overnight range 1.3302-1.3352, close 1.3122, WTI $79.76, Gold $1930.51

The Canadian dollar traded erratically in a narrow range while maintaining a somewhat bullish bias. The Canadian dollar is benefitting from hopes the Fed scales back its tightening program, from hopes for a US soft landing and steady to higher oil prices.

The Canadian dollar isn’t any worse for wear after the Bank of Canada announced it planned to hold interest rates at its “current level while they asses the impact of the cumulative 425-basis point increase in the policy rate.”

Some analysts and traders are anticipating that the BoC will cut rates before the end of the year. Meanwhile, Fed officials have indicated that US rates will rise further and remain in restrictive territory … Read more

Top Stories of January 2023

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– USDCAD set to end week with a 0.38% gain since Monday.

– US PCE and Michigan Consumer Sentiment data due.

– US dollar trading with a slight negative bias.

USDCAD snapshot open 1.3316-20, overnight range 1.3314-1.3345, close 1.3322, WTI $82.08, Gold $1928.45

The Canadian dollar is posting a small 0.38% gains since it opened on Monday, which, in the context of the Bank of Canada opting to cap interest rates at 4.50%, is a decent performance.

The Canadian dollar strength was not an isolated event. The major G-10 currencies rallied as well with the exception of the Swiss Franc which lost 0.18% and the Euro which is virtually unchanged.

The Bank of Canada signalling an end to the post-pandemic rate hike cycle raised speculation other central banks will follow suit. The Fed is not one of them.

The FOMC meets next week on February 1 and is expected to … Read more

Let’s talk about bad habits. No, not the hit song released by superstar musician Ed Sheeran. We’re talking about the little things you do every day that are slowly chipping…

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(CORRECTS TSX GAIN ON DAY OF 13.98 POINTS)

Stocks in Canada’s largest centre eked out gains to close a successful week, powered by momentum in health-care and tech stocks.

The TSX gained 13.98 points to conclude Friday at 20,714.48. The index registered in the plus column 211.78 points, or 1%.

The Canadian dollar improved 0.29 cents at 75.11 cents U.S.

Cannabis plays made their way up, with Canopy Growth, well, growing 24 cents, or 6.5%, to $3.92, while Tilray moved up 21 cents, or 5.1%, to $4.30.

Among tech stocks, Lightspeed Commerce jumped $1.56, or 6.8%, to $24.43, while HUT 8 Mining gathered 13 cents, or 5.2%, to $2.63.

In energy, Athabasca Oil picked up 15 cents, or 6%, to $2.67, while MEG Energy added 96 cents, or 4.6%, to $21.65.

Gold weighed most heavily on the market, as Equinox Gold ditched 27 cents, or 4.3%, to $6.07, while Sandstorm … Read more