Market News
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Canada: Labour market resilience supports cautious Bank of Canada – NBC
National Bank of Canada (NBC) economists Matthieu Arseneau and Alexandra Ducharme highlight robust Canadian labour data for July, with 75.1K jobs added, a lower unemployment rate and stronger private-sector hiring.
Gold: Discretionary demand keeps bulls in control - TD Securities
TD Securities strategists Ryan McKay and Bart Melek highlight that strong discretionary and Asian buying is supporting Gold, even as CTA (Commodity Trading Advisors) positioning has plateaued.
Canadian Dollar jumps after North American jobs double surprise
USD/CAD declines sharply on Friday, trading around 1.3940 at the time of writing, down 0.53% on the day, hitting its lowest level since June.
United States Dollar Index tumbles as NFP shock trims Fed hike bets
The US Dollar Index (DXY), which tracks the buck’s value against a basket of six currencies, is down 0.36% to 99.58 following a weaker-than-expected US jobs report. The DXY hit 99.41 after the jobs report release, its lowest level since June 15.
Brent: Volatile path as Hormuz risk lingers – Commerzbank
Commerzbank’s Carsten Fritsch sees continued volatility in Brent as Strait of Hormuz negotiations remain unresolved and inventories tighten.
US Dollar: Weak payrolls cloud Fed path – ING
ING’s Chief International Economist James Knightley notes that the weak July US jobs report has pushed market pricing away from a September Federal Reserve rate hike, with the Dollar softening and 2-year yields falling.
Turkey Treasury Cash Balance fell from previous 50.759B to -395.65B in July
Turkey Treasury Cash Balance fell from previous 50.759B to -395.65B in July
Fed's Barkin: Jobs data is more low hire, low fire
Thomas Barkin, President of the Federal Reserve (Fed) Bank of Richmond, participated in an online event hosted by the National Association for Business Economics on Friday.
Copper: Tariff-driven tightness faces policy risk – ING
ING Commodities Strategist Ewa Manthey highlights that Copper has surged back near record highs as traders accelerate shipments into the US ahead of potential import tariffs, tightening physical markets and draining LME inventories.
Canadian Dollar: Labour strength and BoC stance – TD Securities
TD Securities economists Robert Both and Emma Lawrence highlight a strong Canadian labour market, with July employment up 75k and unemployment at 6.4%.
Mexico: Banxico extended hold stance – Societe Generale
Societe Generale’s Dev Ashish reports that Banxico left its policy rate at 6.50%, signalling an extended pause as inflation hovers near target and real rates sit close to neutral.
Silver Price Forecast: Weak US payrolls fuel breakout above 50-day SMA
Silver (XAG/USD) jumps nearly 4% on Friday as buying accelerates following a decisive break above the 50-day Simple Moving Average (SMA) near $62. At the time of writing, the grey metal trades around $63.94 after briefly testing the $65 psychological mark.
Canada Ivey Purchasing Managers Index declined to 54.1 in July from previous 59.7
Canada Ivey Purchasing Managers Index declined to 54.1 in July from previous 59.7