Market Highlights: Mixed Equities, USD Surge, Bitcoin Soars, Gold Breaks Resistance, Treasury Yields Dip
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.4270-1.4480
Euro 1.4720-1.4940
Sterling 1.7570-1.7800
WTI Oil (opening level) $73.45
The CAD is opening at 1.4390 ( 0.6949)
Key Points
Equities: Mixed session, tariff concerns, earnings impact, Fed policy, Japan wages
Volatility: Elevated, VIX at 17.70, options active, Nvidia/Tesla focus, implied moves rising
Digital Assets: Bitcoin $93,620, Ethereum $3,307, liquidations $500M+
Currencies: USD surges on a story suggesting sweeping Trump tariffs, GBP weaker as UK yields rise sharply.
Commodities: Gold surges past line of resistance now at USD 2672, crude futures hit highs then retreat on mixed demand signals.
Fixed Income: US treasury yields fall back after a charge higher on fresh Trump tariff concerns.
GBP suffered a broad drubbing, with GBPUSD hitting a new low at 1.2238, as UK yields rose sharply, suggesting a stagflationary outlook for the country.
It is really quite dramatic to see it lose so much, so quickly.
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Bitcoin has jumped above US$17,000 and reached its highest level since December 2017.
Most analysts claim that such a big spike is related to the pandemic and its impact on the global economy. Investors started to move their funds out of stock markets and purchase cryptocurrency as they believe it can become a new shelter from shares volatility.
So, check your crypto wallets, maybe it’s time to reconsider your investment portfolio.
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.3850-1.4050
Euro 1.4720-1.4910
Sterling 1.7770-1.7960
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.3200-1.3300
Euro 1.4550-1.4650
Sterling 1.7050-1.7150
