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“Loonie Longs Are Set For A Painful Dose Of Reality”: Trader

Is all hell about to breaks loose for Loonie longs? Yesterday, Bank of America released a note titled simply enough “CAD longs at risk”, in which it said that “according to our liquid cross border flow (LCBF) data, hedge funds and real money now appear to be in the process of selling out of extended […]


The Latte Index: Using The Impartial Bean To Value Currencies

Like any other market, there are many opinions on what a currency ought to be worth relative to others. With certain currencies, that spectrum of opinions is fairly narrow. As an example, for the world’s most traded currency – the U.S. dollar – the majority of opinions currently fall in a range from the dollar […]


Yes, Cash Is An Asset Class Again!

Authored by Steven Vannelli via Knowledge Leaders Capital blog, In a US Dollar bull market with interest rates at zero, cash is rightfully dismissed as a non-asset class. But, when the US Dollar is in a bear cycle, things change, irrespective of what US interest rates are. There are a handful of indicators we use […]


Frontrunning: November 27

$10,000 in sight for bitcoin as it rockets to new record high (Reuters) Senate Plans Tax Vote Amid Trump Sales Pitch (BBG) Tax-Hike Fears Trigger Talk of Exodus From Manhattan and Greenwich (BBG) Retailers’ Emails Are Misfires for Many Holiday Shoppers (WSJ) Uncertainty Hangs Over CFPB as Two Vie to Lead Agency (WSJ) China Shares […]


The Coming Economic Downturn In Canada

Authored by Deb Shaw via MarketsNow.com, Canadian GDP growth has outperformed this year, helping the Canadian dollar As GDP growth slows and the Bank of Canada turns neutral, catalysts turning negative Crude oil and real estate look set for a downturn, with negative implications for the currency Given its natural resource-based economy, Canada is a […]


Are Petrocurrencies Heading For Extinction?

Authored by Irina Slav via OilPrice.com, Petrocurrencies are breaking away from their traditional tight link to oil prices, but all it would take for this link to return is for prices to fall bellow their current range. This seems to be the general consensus among bankers interviewed by Bloomberg’s Natasha Doff and Anna Andrianova. The […]


Loonie Plunges After Bank Of Canada Keeps Rates Unchanged

After two rate hikes earlier in the year, once in July and an unexpected rate hike in September, the Bank of Canada decided to tread lightly, and kept its overnight rate at 1%, as everyone expected stating that "the current stance of monetary policy is appropriate" and changes its hiking tune, warning that "less monetary […]


Are Cryptocurrencies Inflationary?

Are Cryptocurrencies Inflationary? Posted with permission and written by John Rubino, Dollar Collapse      There’s a debate raging over what, exactly, bitcoin and the thousand or so other cryptocurrencies actually are. Some heavy-hitters are weighing in with strong, if not always coherent opinions:   Jamie Dimon calls bitcoin a ‘fraud’   JPMorgan Chase CEO […]


GE-Dip-Buying-Panic Sends Dow To ‘Most Overbought’ In 62 Years, Yield Curve Collapse Continues

Always…   As Bloomberg summarizes, the dollar rose, Treasuries sank and all three broad stock indexes are heading for a record close on bets a budget compromise will bring Washington closer to agreeing on Trump’s promise of tax reform. The dollar touched a three-month high and 10-year Treasury yields approached 2.4% while the Canadian dollar […]


Dow Futures Over 23,000: Dollar, Global Stocks Jump As China Congress Begins

World stocks stayed near peaks and currencies moved in tight ranges on Wednesday as China’s 19th Communist Party Congress opened while focus in Europe turned to speeches from top euro zone central bankers before next week’s key policy meeting, as well as Catalonia’s ultimatum due on Thursday. S&P futures are solidly in the green as […]


Global Bond Rout Accelerates Even As Dollar Rally Fizzles

In a continuation of trading patterns observed over the previous two days, on Thursday the global bond rout deepened in the aftermath of the release of President Trump’s tax-cut plan, Janet Yellen’s recent hawkish comments and renewed optimism over the health of the U.S. economy. While global stocks were mostly mixed as investors tried to […]


Loonie Loses All ‘Surprise Rate Hike’ Gains As Canada’s Poloz Gets Cold Feet

The Canadian Dollar is tumbling – erasing all the gains following September's surprise rate-hike – as in his first speech since the, Bank of Canada Governor Stephen Poloz warns there is no “predetermined path for interest rates” and said the central bank will proceed “cautiously” as it assess the performance of the economy from here […]


World Stocks Pull Back Amid Rising Concerns Of A Market Correction

For the first day in three S&P futures have pulled back modestly from record levels as some investors cautioned that gains had gone too far, too fast, European shares are mixed while Asian equities extended their longest rising streak in almost two months as continued gains in Japan and India offset the losses in Hong […]


All Eyes On Draghi: Futures Flat, Euro Surges, Dollar Slides; Yuan Breaches 6.50

S&P futures are flat, still spooked by the WSJ’s report that Gary Cohn will not be the next Fed chair, while both European stocks and Asian shares gain in a overnight session on edge in which everyone is looking forward to today’s main risk event: the ECB meeting and Draghi press conference due in under […]


Loonie Soars After Bank Of Canada Unexpectedly Hikes Rates By 25 bps

With only 6 of 33 forecasters predicting a rate hike in today’s Bank of Canada announcement, it was inevitable: the Bank of Canada surprised a good 75% of the market, and triggered massive stop loss orders in the looni, when moments ago it announced it hiked rates by 25bps to 1%, sending the USDCAD lower […]