Canadian Exchange Rate, Interest Rates And U.S. Tariffs All Wrapped In One
Image source: Pixabay Today’s announcement that the Bank of Canada (BoC) lowered its overnight rate to 3% from 3.25% signals that officials are concerned with a lingering weakness at home, requiring further monetary stimulus. Starting in April last year, the BoC has cut its rate six times from 5% to today’s rate of 3%. The Bank […]
Macro Briefing – Wednesday, Jan. 29
US Consumer Confidence Index fell in January, but “has been moving sideways in a relatively stable, narrow range since 2022. January was no exception,” writes the chief economist at The Conference Board. “All five components of the Index deteriorated but consumers’ assessments of the present situation experienced the largest decline. Notably, views of current labor market conditions fell […]
Bank Of Canada Prepares For A Trade War
The BoC cut rates by 25bp as expected today. Rates would be at or close to the bottom given some improvement in the economic outlook, but the huge question mark of a US-Canada trade war is leaving the door open for more cuts. Ultimately, the relative growth-inflation impact of tariffs will determine the BoC’s reaction. We […]
Alibaba Remains In A Larger Bullish Triangle Pattern
Image Source: Pexels “Alibaba is up after the company releases AI model it says surpasses DeepSeek-v3.“Alibaba with ticker BABA is trading sideways for two years, but we are tracking a larger bullish ABCDE triangle pattern in circled wave B before we will see a continuation higher for circled wave C.With recent rebound away from the lower […]
FTSE Rubber Hits The Road As Auto Parts Sector Soars On Takeover News
Image Source: Pexels The UK’s primary stock indices increased on Wednesday, driven by gains in the automobiles and parts sector. The primary contributor to that increase was a 11.2% rise in shares of Dowlais Group following the announcement by U.S. auto parts manufacturer American Axle and Manufacturing that it plans to acquire GKN Automotive’s parent company […]
Stocks Scatter As Investors Prepare For Fed Remarks
Stocks are mixed this afternoon, as investors await an interest rate update from the Federal Reserve’s first policy meeting of 2025. The central bank is slated to deliver its monetary policy decision at 2 p.m. ET, followed by remarks from Fed Chair Jerome Powell. At last check, the Dow Jones Industrial Average (DJI) is modestly higher, while the […]
Elliott Wave Technical Analysis: Westpac Banking Corporation
Today’s Elliott Wave analysis provides an updated perspective on the Australian Stock Exchange (ASX) focusing on WESTPAC BANKING CORPORATION (WBC).Our analysis indicates that ASX: WBC may have completed a Triangle pattern, suggesting an upward movement. This evaluation also highlights key price levels to help traders determine whether this scenario remains valid, when it is invalidated, and when a bullish confirmation trend is likely to […]
US Q4 GDP Growth Nowcast Rises Ahead Of Thursday’s Report
Economic output in the fourth quarter is expected to increase at a solid rate in this week’s initial GDP estimate from the Bureau of Economic Analysis. Thursday’s report from the government (Jan. 29) is on track to rise 2.7%, based on the median estimate from several sources compiled by CapitalSpectator.com.If the median 2.7% estimate (seasonally […]
ETH/USD Forecast: Holds Steady Above $3,000 After Monday’s Recovery
Ethereum has been somewhat quiet during the trading session on Tuesday but I think that’s a good sign considering just how ugly Monday got. Although it’s worth mentioning that Monday did recover quite nicely so the fact that we plunged the way we did to the $3,000 level on Monday and then on Tuesday we […]
Sensex Today Rallies 632 Points; Nifty Above 23,150
After opening the day higher, Indian benchmark indices gained as the session progressed and ended the day higher.Benchmark equity indices, the BSE Sensex and NSE Nifty50, extended gains for the second consecutive session to settle in the green on Wednesday.At the closing bell, the BSE Sensex stood higher by 632 points (up 0.8%).Meanwhile, the NSE Nifty closed higher by […]
