The Weekly Bottom Line: Canada

U.S. Highlights A strong week for economic data as the ISM manufacturing index and the payrolls report surprised to the upside. The details of both reports showed improvements on the supply-side of the economy as falling manufacturer input prices and a strong improvement in the labor force shined through. The Fed still has its hands […]

Week Ahead – Rate Hikes Keep Coming

US The countdown to the September 13 inflation report begins as investors fixate over a wrath of Fed speak, with special attention going towards Chair Powell’s Thursday discussion on monetary policy. It is a slow start to the trading week as US markets are closed on Monday for Labor Day. Tuesday contains the release of […]

Weekly Economic & Financial Commentary: Labor Market Report Complicates FOMC's Decision on September 21

Summary United States: August Rush Employers added 315K new names to their payrolls in August, but there were an additional 786K people looking for work. Amid such a rush into the labor market, the unemployment rate rose to 3.7%. More job seekers also lifted the participation rate to 62.4% and thus easing some tightness in […]

Forex and Cryptocurrencies Forecast

EUR/USD: Rather Boring Week The past week was, boring, so to say. The macro statistics released from August 30 to September 2, although versatile, turned out to be quite close to market expectations. For example, the harmonized consumer price index in Germany, was 8.8%, with the forecast of 8.8%. The consumer price index in the […]

Worsening Energy Crisis, OPEC Decision and UK's Next PM

The week starts on negative sentiment as Friday’s jobs report couldn’t prevent the selloff from extending in the US. And more importantly for the Europeans, Gazprom didn’t restore gas flow to Europe on Saturday, as planned. Gazprom said that a leak was detected, and that the pipeline could not operate before it’s fully repaired. But […]

Russian Halt to Gas Flows Deals Another Blow to Europe

Market movers today Energy price developments remain in focus this week after Gazprom said it would fully suspend the Nord Stream natural-gas pipeline to Germany, raising pressure on Europe as governments race to avoid energy shortages this winter. Markets will look out for clues about EU measures to cap the rapid price rises in energy […]

Gas Story Dominates Asian Markets this Morning

Markets US payrolls added a robust 315k but a downward two-month revision, slowing income growth and an unusually large uptick in the participation rate drew the attention. It smoothed off some of the sharpest edges in terms of Fed expectations, boosting risky assets. European stocks inched 2.5% higher but after the close news came that […]

Bitcoin Resists Equity Market Pressure

Market picture Bitcoin declined 0.4% over the past week, ending at around $19,900 without experiencing any significant movement during that time. For now, we can only say that the crypto market is wagering on the strengthening of the dollar, and to a markedly lesser extent than other markets. Ethereum added 5.9% to $1570, while other […]

Risk Aversion Sweeps Across Europe

European stock markets are plunging at the start of the week following a day of mixed trade in Asia, with Gazprom’s announcement on Friday weighing heavily on the bloc. A bank holiday in the US often results in relatively quiet trade everywhere else but that’s certainly not looking the case today. The decision not to […]

Unstoppable Dollar: It Could Rise to 2001-2002 Highs

The dollar index rose above 110, updating 20-year highs on Monday morning as a flash reaction to increased pressure on the euro and British pound. European currencies are selling off amid an energy crisis related to Russian gas supplies, which have entirely halted through the Nord Stream pipeline. Although it caused an emotional response at […]