Market Overview Analysis & Opinion

We begin with the energy markets where the carnage continues. The selloff started with the latest report on US crude oil inventories showing crude in storage rising by 2.6M barrels (vs. -0.8M...

Greece had been a dominant issue for investors for much of the first seven months of the year. The seemingly reversal by Greek Prime Minister Tsipras allowed for Greece to move off the front burner....

Despite the unexpected drop in manufacturing activity in the New York region (Empire Manufacturing Index), the release yesterday of the confidence index for construction companies in the residential...

In a 7/15 release on Q2’s GDP, the Chinese National Bureau of Statistics said that China’s economy is “moving forward while maintaining stability.” Real GDP rose 7% y/y. The...

Six of the eight indexes on our world watch finished in the red this week. The Shanghai Composite led the pack for the second consecutive week with its 5.91% surge, and it is once again the...

The gyrations in the foreign exchange market spurred by the panicked response to Chinese machinations may have been the last spasm before the summer doldrums grip the dollar. The Dollar Index had its...

The Currency War ContinuesThe devaluation of the yuan, triggered by disappointing economic data, shook up markets yesterday, resulting in a generalized decrease in risk tolerance. The loonie, main...

China Devalues the Yuan!In an unexpected twist, the People’s Bank of China changed the way it calculates the yuan’s daily midpoint against the greenback, allowing it to depreciate by 2%,...

We may see a turnaround sometime soon on this USD:CAD forex pair.A break and hold below 50 on the RSI could signal a retest of the 1.250 price level, or lower at the 50 MA at 1.223. The bearish...

World – Markit released services PMI’s for July. After hitting a 5-month low in the prior month, the global index bounced back to 53.9, albeit remaining below the long term average. New...

United States – Non farm payrolls rose 215K in July a touch lower than consensus which was expecting a 225K increase. There were, however, upward revisions to the prior months to reflect more...

CanadaEmployment rose 7K in July according to the Labour Force Survey, close to the 5K expected by consensus. The jobless rate, however, remain unchanged at 6.8% as the participation rate fell one...

Following a steep drop in July, the Canadian dollar was relatively stable last week. In spite of it all, the loonie continues to oscillate at levels not seen in over five years. Regarding Canadian...

Canada’s Ivey Purchasing Managers’ Index came in at 52.9 in July from the prior of 55.9, better than forecasts of 51.8.Data released today also showed that Canada added 6,600 jobs in July,...