Month: June 2020

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A combination of supporting factors assisted USD/CAD to regain some traction on Tuesday. Concerns about rising coronavirus cases continued benefitting the safe-haven greenback. Sliding oil prices undermined the loonie and remained supportive of the intraday move up. The pair moved little after data showed the Canadian economy contracted less-than-expected. The USD/CAD pair held on to
Canada April 2020 GDP data Worst month on record March was -7.2 m/m (revised to -7.5%) GDP contracts 17.1% y/y vs -17.1% expected Through March, GDP contracted 5.8% y/y Flash May estimate +3.0% m/m Manufacturing sector -22.5% in April Construction sector -22.9% Retail trade -22.9% Transportation and warehousing -23.1% Accommodation and food services sector -42.4%
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
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County health officials issue the warning, say the outbreak is worsening. said they are now faced with one of their biggest fears: that the reopening of L.A. County would coincide with sudden jumps in disease transmission that have the potential to overwhelm public and private hospitals. L.A. County has nearly 98,000 confirmed cases and more
Reuters has reported that Federal Reserve Chair Jerome Powell on Monday noted the outlook is “extraordinarily uncertain” and will depend both on containing the virus and on government’s efforts to support the recovery. Powell said in remarks prepared for a Congressional hearing on Tuesday that the central bank’s Main Street lending facility may prove valuable
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OPEC’s (Organization of the Petroleum Exporting Countries) oil supply has fallen by 1.25 million barrels per day (bpd) in June from May’s level, Reuters reported on Monday, citing tanker tracker Petro Logistics. OPEC-10, excluding Libya, Iran and Venezuela, needs to cut an additional 1.55 million bpd to reach full compliance with the OPEC+ output reduction agreement,