Bitcoin appears to have settled down following a wave of panic selling and forced liquidations, but the cryptocurrency remains vulnerable in the near-term.
The CEOs of JP Morgan, Goldman Sachs, Citi, and other prominent financial institutions met with Senators on Wednesday to discuss the role banks played in the implementation of various COVID relief .
Australian Dollar Analysis: AUD/USD Gyrates Following Mixed Jobs Data
2021-05-20 02:00:00
Brendan Fagan,
AUD/USD, AU Employment Talking Points
Australian employment change comes in at -30,600 against a previous gain of 77,000
The Australian unemployment rate falls to 5.5%, however labor force participation also dropped
AUD/USD pushed lower Wednesday following a wave of risk-off sentiment across all asset classes
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Australian employment data largely disappointed on Thursday as total employment decreased by 30,600 jobs, against an expected gain of 15,000 jobs for April. Despite the miss, the country’s unemployment rate dropped to 5.5%, down 0.2% from March. Perhaps a green shoot in the reading was the gain in full-time employment, which grew in April by 33,800. Of note, the end of the domestic “JobKeeper” subsidy program will present a headwind to further significant employment gains. Experts labeled the program as a key factor in the sharp decline in Australi
USD/CAD Analysis: Loonie Strength Continues Ahead of Key Inflation Data Release
2021-05-18 20:30:00
Brendan Fagan,
Bank of Canada, Inflation, USD/CAD Talking Points:
Loonie strength continues, USD/CAD trading at levels not seen since May 2015
Bank of Canada remains steadfast in their commitment to 2% inflation target
Bank of Canada’s recent taper of asset purchases was the fuel for the recent move
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USD/CAD traders will be looking to Wednesday’s inflation data for clues as to the pair’s next move. Since the Bank of Canada (BoC) announced a taper of asset purchases last month, USD/CAD has fallen to lows not seen since 2015. The buoyancy in the Canadian Dollar has caught the attention of Canada’s central bank, with Governor Tiff Macklem saying continued Loonie strength may create headwinds for investment and exports in the near future.