Good morning. The dollar is holding firm, Treasury yields are steadying, and oil prices are inching higher as investors try to look through a raft of worrisome headlines. Foreign-exchange markets have become less sensitive to the daily rhythm of geopolitical escalation, focusing instead on monetary policy after lower-than-expected inflation data last week prompted traders to scale back expectations...
Update: The White House posted annexes setting out product-specific tariff rates after my earlier market wire was sent. Using the information in the annexes applied to pre-Trump trade volumes, our rough estimates suggest the overall increase in potential levies comes in at around $19.1 billion USD or 4.6% of Canadian exports to the US, meaning that the average tariff rate applied to Canadian products...
Good morning. The dollar is steadying and measures of implied volatility are coming down after a week of turmoil that saw global equity markets tumble and oil prices surge past $90 a barrel for the first time in more than a month. After American forces launched a ninth consecutive night of strikes and Tehran carried out reprisals against ships and targets across the region, Iranian authorities said...
Good morning. Risk sentiment is deteriorating across financial markets amid worsening geopolitical turmoil in the Middle East and a widening rout in technology-sector shares.
Another flareup in the Middle East conflict is keeping oil prices elevated and reigniting inflation concerns. The United States launched a sixth consecutive day of strikes against Iranian targets last night, with Tehran retaliating...
As markets had overwhelmingly anticipated, the Bank of Canada left its policy settings on hold this morning, while pointing to signs of renewed economic growth and gradually easing inflation against a backdrop of persistent risks from the Middle East conflict and US trade tensions.
Officials led by Governor Tiff Macklem maintained the policy rate at 2.25 percent for a sixth consecutive meeting after...
Good morning. Oil prices are extending their gains as the conflict in the Middle East intensifies, and the dollar remains on the defensive after yesterday’s June inflation report came in well below forecasts. President Trump reimposed a naval blockade on all Iranian ports yesterday, and Tehran threatened to close “all other export corridors that benefit the US and its allies”—language widely...