CAD

An escalation in Chinese stimulus efforts is helping boost global asset prices this morning, driving equity indices, commodity prices, and risk-sensitive currencies higher ahead of the North American open. The greenback is weaker, Treasury yields are slipping, and oil prices are holding steady in still-oversupplied markets. In an unexpected step, the People’s Bank of China announced it would lower the amount of reserves banks need to hold against their deposits for the third time in a year, potentially unlocking roughly 1 trillion yuan in new lending capacity. The move, which comes after a raft of securities purchases by China’s “national...

The dollar looks set to break its four-day winning streak, reversing some of its gains as traders and investors tiptoe back into risk-sensitive assets within a quieter economic data environment. North American equity futures are building up to a mildly-positive open, Treasury yields are slipping, and most currency majors are posting incremental gains. Oil prices are pushing higher after the US hit another 14 Houthi launch sites in Yemen, and Pakistan launched an aerial assault against targets in Iran. The attack comes after an Iranian missile strike on Pakistan-based militants on Tuesday, and threatens to escalate into a wider conflict...