Strong Canadian Jobs and US-China Trade Talk Boosts Loonie

The Canadian dollar strengthened to a four-week high against its U.S. counterpart on Friday after domestic data showing a much bigger-than-expected jobs gain in September supported bets for the Bank of Canada to keep interest rates on hold this month. The Canadian economy added 53,700 jobs in September, the second straight month of robust jobs […]

Oil Falls on US-China Trade Concerns

Oil prices fell on Tuesday as Washington’s blacklisting of more Chinese companies dampened hopes for a trade deal between the two countries, though unrest in Iraq and Ecuador lent some support to crude prices. Brent crude LCOc1 fell 77 cents, or 1.3% to $57.58 a barrel by 1157 GMT. West Texas Intermediate crude CLc1 was […]

US Stocks Fall on US-China Trade War Escalations

Wall Street was set to open lower for the second straight session on Tuesday, after a report that the Trump administration was moving ahead with discussions around possible curbs on capital flows into China stirred up fresh worries over the outcome of the high-level trade talks later this week. The report came as tensions escalated […]

Weaker US PPI Validates Fed Rate Cut View

The weak producer inflation readings reported by the Labor Department on Tuesday came against the backdrop of a slowing economy amid trade tensions and cooling growth overseas. The Fed cut rates in September after reducing borrowing costs in July for the first time since 2008, to keep the longest economic expansion on record, now in […]

Daily Markets Broadcast 2019-10-10

Daily Markets Broadcast 2019-10-10 Stocks start nervously today as trade hopes fade US indices rose yesterday on hopes China would look through the recent US blacklisting steps and make progress in the trade talks. Those gains have been wiped out in early trading this morning as China damped expectations for a broader deal. EU says […]

China Cools Trade Optimism With Retaliation Signals

China poured cold water on hopes for a trade deal, signaling it would retaliate against the U.S. threat to put Chinese tech companies on a blacklist, just two days ahead of the highly-anticipated trade talks in Washington. Chinese Foreign Ministry spokesman Geng Shuang said Tuesday “stay tuned,” when asked whether China would retaliate over the […]

US Producer Prices Fall in September

U.S. producer prices unexpectedly fell in September, leading to the smallest annual increase in nearly three years, which could give the Federal Reserve room to cut interest rates again later this month. The weak producer inflation readings reported by the Labor Department on Tuesday came against the backdrop of a slowing economy amid trade tensions […]

Stocks Fall on Fresh Fears of US Slowdown

U.S. stocks fell more than 1% for the second straight session on Wednesday, hitting a fresh one-month low, as September’s weak private payrolls report added to concerns of a slowdown in the world’s largest economy. U.S. private employers hired fewer-than-expected workers in September, the ADP National Employment Report showed, pointing to weakness in the labor […]

WTO Rules in Favor of US Tariffs against EU

The World Trade Organization ruled on Wednesday that the United States could target $7.5 billion of imports from the European Union over illegal subsidies for planemaker Airbus. Washington has drawn up a preliminary list of goods that it plans to hit with tariffs of up to 100% ranging from planes to luxury goods. via Reuters […]

Oil Under Pressure After Huge US Jump in Crude Inventories

Oil steadied on Wednesday ahead of the Energy Information Administration (EIA) report, following several days of declines, after industry data showed a surprise drop in the API U.S. crude inventories, although gains were capped as weak economic readings in the United States depressed global markets. Brent crude futures, an international benchmark for oil prices, were […]