Author: Robert Jessi

The defensive currencies – the Japanese yen and the Swiss franc – remain soft. That may be because equity markets remain reasonably bid despite the rise in energy prices. But a far more important factor appears to be low interest rates and central banks that will be slow to hike. Expect and to stay bid during this period of high energy prices USD: No Respite From Higher Energy Prices The global investment environment can be characterised as one in which risk appetite remains reasonably strong, even as higher energy prices drive interest rates to new highs. The former is heavily…

European shares fall as tech weighs ahead of US big tech earnings; Mideast in focus

Open this photo in gallery:Illustration by Sam IslandGood morning. Inflation can be one of the biggest worries when you’re planning for retirement. Watching prices rise while you’re living on a fixed income sounds like a recipe for stress. But what if it actually isn’t quite as scary as it seems? Let’s get into it.What’s your personal inflation rate? Canada’s latest inflation numbers may have made your heart rate tick up a little.Inflation accelerated to its highest level in more than two years in May as price pressures linked to the conflict in Iran began showing up beyond the gas pump.…

Gold (XAU/USD) maintains its bid tone heading into the European session and currently trades just below a two-week high, set earlier this Wednesday. The US Dollar (USD) drifts lower following a four-day uptrend amid hopes that US-Iran diplomacy could ease energy prices and temper hawkish US Federal Reserve (Fed) expectations, underpinning the commodity. In fact, top negotiators for Iran and the US signaled that they have not walked away from talks. US Secretary of State Marco Rubio said on Sunday that the US was still open to holding talks with Iran, while Iran’s Interior Minister Eskandar Momeni  asked Pakistan to…

The Pound is the weakest major currency on the day, with falling -50 pips on the day to break below a 1-month bullish trendline as traders digest the UK jobs report and new government.GBP/USD Key PointsThe UK jobs report was mixed, with unemployment falling but wages coming in lower than expected. Traders are skeptical about the new UK government, but aren’t panicking yet. The Pound is the weakest major currency on the day, with GBP/USD falling -50 pips on the day to break below a 1-month bullish trendline. Outside of earnings reports from Alphabet and Tesla after the bell tomorrow,…

The Pound to Canadian Dollar (GBP/CAD) exchange rate edged slightly higher on Monday as softer Canadian inflation weighed on the ‘Loonie’, although gains for Sterling were capped as investors awaited more policy detail from Prime Minister Andy Burnham. At the time of writing, GBP/CAD was trading at CA$1.8875, up around 0.1% on the day. Latest — Exchange Rates:Pound to Canadian Dollar (GBP/CAD): 1.886772 (+0.02%)Euro to Canadian Dollar (EUR/CAD): 1.604233 (+0.04%)Dollar to Canadian Dollar (USD/CAD): 1.40557 (+0.25%) DAILY RECAP: The Pound (GBP) struggled to find momentum on Monday as markets reacted cautiously to Andy Burnham’s first address after taking office as…

The Canadian Dollar remains caught between improving domestic conditions and a stronger US Dollar, but CIBC believes the Bank of Canada is likely to remain comfortably on hold for the rest of the year. USD/CAD traded near 1.37, with the pair continuing to reflect broad US Dollar strength rather than a significant deterioration in Canada’s economic outlook. CIBC says the Bank of Canada is in a relatively comfortable position after recent data showed inflation pressures easing while economic activity gradually improves. The bank argues that policymakers have little incentive to adjust rates in either direction, with inflation moving closer to…

GIC comparison tool Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance. Why trust us MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings of major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners. Highest GIC rates in Canada…

Large currency options set to expire Wednesday

USD The dollar firmed on Monday as Middle East risk dominated, with thinned Hormuz shipping traffic sending briefly above $90 before settling near $89. That left the to probe 101 before easing marginally, as the stagflationary impulse drew haven flows into the buck and markets pared the modest Fed easing that a lukewarm jobs report had briefly priced. With the Fed now in blackout before next week’s July 29th decision and a sparse US calendar, the dollar stays hostage to oil and Gulf headlines: US strikes are now in their tenth day, and the Houthis have declared an embargo on…