Dollar Regains Ground Ahead of Fed Minutes

Higher US inflation fails to spark dollar revival The US dollar depreciated across the board versus major pairs despite consumer prices rising more than expected. Inflation anxiety had triggered a sell-off in global stock markets with the Fed expected to ramp up their interest rate hike path yet the dollar did not benefit as higher […]

DAX Gains Ground as Dollar Under Pressure

The DAX index has posted considerable gains in the Friday session. Currently, the index is trading at 12,418.30, up 0.58% since the Wednesday close. On the release front, the sole release was the German Wholesale Price Index, which rebounded with a strong gain of 0.9%, crushing the estimate of 0.2%. It’s been a dismal February for […]

US Bond Auction TIPS the dollar

US Bond Auction TIPS the dollar A dismal US 30year TIPS auction is weighing on dollar demand as the sagging bid to cover ratio of 2.31 is signalling dwindling investor appetite as inflationary headwinds build. The dollar is lower because no one wants to own US bonds despite the higher yield, knowing the inflationary headwinds […]

High Levels of Canadian Debt Worry BoC

A senior Bank of Canada official says the central bank is looking at how the high levels of household and public debt could pose a challenge to how it manages monetary policy. In a speech to the Manitoba Association for Business Economists, deputy governor Lawrence Schembri says high debt levels mean there is less space, […]

Gold Takes Breather After Strong Gains

Gold prices is trading sideways in the Thursday session, after surging higher on Wednesday. Currently, the spot price for an ounce of gold is $1351.30, up 0.05% on the day. On the release front, PPI gained 0.4%, matching the forecast. Core PPI also gained 0.4%, beating the estimate of 0.2%. Both indicators rebounded after declines in […]

US Homebuilder Confidence Remains High in February

Tax cuts are still making homebuilders feel better, even as mortgage rates rise to the highest level in more than four years. Builder confidence was unchanged in February from the prior month, remaining at 72 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Anything above 50 is considered positive sentiment. The […]