Weekly Changes News Today

Euro Area core inflation fell in September to 4.5%, as expected, leaving the single currency vulnerable to further moves against the US dollar.

Labor market data from both Canada and the US Came in hot on Friday. The Canadian Dollar does seem vulnerable as USDCAD eyes the 1.3900 mark

The Loonie struggled today after a period of consolidation as a rampant US Dollar and rising US Yields saw USDCAD make a run for recent highs. The start of the next leg higher?

​​The Fed’s ‘hawkish pause’ has sent markets into a tailspin, with stocks falling as investors contemplate the prospect of a much longer period of higher interest rates in the US. ​

​​Outlook on FTSE 100, DAX 40 and S&P 500 as German PPI comes in stronger-than-expected while UK CPI inflation slid by more than previously forecast.

US PMI continued the trend today and missed estimates showing signs that the rate hike cycle is being felt. Canadian retail sales provided mixed signals with USDCAD eyeing Jackson Hole for its next move. Retracement incoming or consolidation ahead?

The British Pound is holding its own against a resurgent US dollar and is pushing ahead against the Euro. Higher UK bond yields underpin the move.

​​Indices have seen further selling, with no end to the pullback yet in sight. ​

UK unemployment rises to levels last seen in late 2021. Average earnings touted as key by the BOE smashed estimates and is likely to add pressure on the Central Bank to keep its foot on the rate hike pedal.

The Bank of Canada may have to rethink their path regarding rate hikes following a hotter than expected inflation print. USD/CAD Upside Rally Stalls at the 1.3500 handle.