Author: Robert Jessi

A motorcycle is parked at a Circle K gas station on June 16 in Austin, Texas. (Credit: Brandon Bell/Getty Images) It’s Monday, June 22. Here are the top stories we’re following today. Canadian inflation rate spikes to 3.2% on surging gas prices Canadian inflation accelerated to its highest level in more than two years in May, as rising gasoline and food prices helped pushed the rate to 3.2 per cent. Read the story The Bank of Canada building in Ottawa. Bank of Canada to hold on rates as 33% gas inflation masks weak economy, say economists Here’s what economists think…

United Overseas Bank’s (UOB) Quek Ser Leang reports USD/CNH is consolidating after a prior decline to 6.7865, with prices oscillating between 6.7911 and 6.8025 and closing at 6.7948. He expects intraday action to remain confined to 6.7860–6.7990. Over 1–3 weeks, recent Dollar strength is seen as having ended, with the pair likely to trade between 6.7750 and 6.8080, while medium-term recovery requires a break above the 21‑week EMA at 6.8430.Off highs and stuck in a band”24-HOUR VIEW: Two days ago, USD dropped to 6.7865 and then rebounded. When it was at 6.7920 yesterday, we highlighted that “the rebound from oversold…

The EUR/USD pair declines to around 1.1420 during the early Asian session on Thursday, pressured by a soft Eurozone inflation outlook. The US Dollar (USD) strengthens against the Euro (EUR) despite disappointing US June labor data. European Central Bank (ECB) President Christine Lagarde is scheduled to speak later on Friday.Eurozone headline CPI cooled more than expected, falling to 2.8% YoY in June from 3.2% in May, Eurostat revealed on Wednesday. The core inflation dropped to 2.4% YoY in June from 2.6% in the previous reading. This report has reduced pressure on the ECB to maintain a highly aggressive interest rate…

The Pound to Canadian Dollar (GBP/CAD) exchange rate traded in a narrow range on Wednesday as uncertainty surrounding USMCA trade negotiations kept the Canadian Dollar subdued while Sterling awaited comments from Bank of England Governor Andrew Bailey. At the time of writing, GBP/CAD was trading at CA$1.8827, little changed on the day. Latest — Exchange Rates:Pound to Canadian Dollar (GBP/CAD): 1.88368 (+0.06%)Euro to Canadian Dollar (EUR/CAD): 1.61838 (-0.2%)Dollar to Canadian Dollar (USD/CAD): 1.42311 (+0.16%) DAILY RECAP: The Canadian Dollar (CAD) struggled to attract support on Wednesday amid renewed uncertainty surrounding the future of the US–Mexico–Canada Agreement (USMCA) on trade. Representatives…

Canada’s inflation rate accelerated above the Bank of Canada’s target band in May, yet markets remain convinced policymakers will leave rates unchanged. With bearish CAD positioning becoming …

“A lot of guests underestimate the full cost beyond the room rate,”  says Leila Lavaee, founder of Travel Design by Leila. “Flights, transfers, meals, baggage fees, seat selection, and currency conversion can add up fast.”  Traditionally, the expectation has been that guests cover their own travel and accommodations, while couples pay for wedding-related events. “At an all-inclusive resort, guests usually pay for their resort stay, which includes all meals and drinks,”  explains Courtney Zimmerman, a destination wedding and group travel specialist with Liz Moore Destination Weddings. “The couple typically pays for the ceremony, reception, and any private events they host.”  Should…

UBS cuts Pepsico stock price target on growth concerns to $172

USD The dollar began the second half on the front foot, before fading after Chair Warsh’s acknowledgment that inflation risks had come down, alongside an ISM manufacturing report whose prices-paid gauge posted its largest monthly drop since 2022. That mix left the DXY to finish near 101.4 on the day, albeit still below its June 24th peak and consistent with our view that the dollar is topping out. Today’s focus is on June payrolls at 13:30 BST, pulled forward ahead of tomorrow’s Independence Day closure. Consensus sits close to the 115k mark, while unemployment is projected to remain at 4.3%.…

The won is not simply weakening because the dollar has found its feet again. Foreign investors own a vast pool of Korean equity exposure, and as the surged through the second quarter, the amount of won risk sitting inside those portfolios expanded sharply. Even a modest hedge ratio creates a large amount of demand for offshore dollar hedges when the underlying equity market is rising by this much. Much of that hedging is done through the illiquid NDF market, where the demand is often most intense around quarter-end, when passive and real-money investors tend to rebalance in bulk rather than…

The Pound to Canadian Dollar (GBP/CAD) exchange rate traded in a narrow range on Wednesday as uncertainty surrounding USMCA trade negotiations kept the Canadian Dollar subdued while Sterling awaited comments from Bank of England Governor Andrew Bailey. At the time of writing, GBP/CAD was trading at CA$1.8827, little changed on the day. Latest — Exchange Rates:Pound to Canadian Dollar (GBP/CAD): 1.88368 (+0.06%)Euro to Canadian Dollar (EUR/CAD): 1.61838 (-0.2%)Dollar to Canadian Dollar (USD/CAD): 1.42311 (+0.16%) DAILY RECAP: The Canadian Dollar (CAD) struggled to attract support on Wednesday amid renewed uncertainty surrounding the future of the US–Mexico–Canada Agreement (USMCA) on trade. Representatives…