FOREX: USDCAD Bear Cycle Extending, Canada CPI Awaited Next Week
Feb-14 14:38
* Amid the worsening short-term outlook for the greenback, Canadian dollar positioning appears to ...
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EQUITIES: Cash Equities gap higher on the Open
Jan-15 14:35
- US Program buyer on the open, 1960 names, the most since the 1st May, a 63 points upside opening gap for the SPX.
- Next resistance in the Cash SPX comes at 5949.34.
CANADA DATA: Home Sales -5.8% in Dec, +10% Over Q4
Jan-15 14:33
- Canadian Real Estate Assn says Wed that even with Dec decline sales are +13% since the BOC's first rate cut in June.
- “Our forecast continues to be for a significant unleashing of demand in the spring of 2025, with the expected bottom for interest rates coinciding with sellers listing properties for sale in big numbers once the snow melts,” says CREA economist Shaun Cathcart.
- YOY sales +19%, avg price +2.5%, while sales indexed to match up similar models of homes -0.2%.
JPY: USDJPY Prints Below Dec 31 Lows of 156.02
Jan-15 14:32
- With major indices off their best levels and the notably lower core yields today, USDJPY is extending session lows, breaching the December 31 lows of 156.02 at typing. As noted, multiple attempts into the prior intervention zone above 158.00 have been met with firm resistance.
- The latest US data and central bank rhetoric are likely to garner more and more attention as we approach the Jan 24 BOJ decision, where odds have been growing for a hike. A deeper correction would initially target 154.71, the 50-day EMA.
