Author: Robert Jessi

United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann see USD/CNH confined to a narrow intraday range, with flat momentum suggesting consolidation between 6.7450 and 6.7550. Their 1–3 week view still anticipates the Dollar edging lower toward 6.7300 while 6.7640 caps the upside, and over 1–3 months a sustained recovery requires a break above the 21-week EMA at 6.8430.Dollar seen consolidating in tight band”24-HOUR VIEW: Following Wednesday’s price movements, we highlighted the following yesterday: “Despite the quiet price action, the underlying tone appears to be soft, and there is a chance for USD to test 6.7420. However,…

DBS Group Research anticipates China’s credit demand to stay weak in July, with new Yuan loans around RMB 10.8 billion and M2 growth at 8% year-on-year. Corporate and household medium- to long-term lending are likely to soften amid cautious borrowing and mortgage prepayments. Elevated precautionary savings and subdued property prices are expected to constrain investment and consumption.Weak lending and elevated savings”Credit demand remains weak, with new yuan loan is expected to stay at RMB10.8bn in July.””Both corporate and household medium- to long-term lending likely softened amid cautious borrowing sentiment and continued mortgage prepayments.””M2 growth is expected to remain at 8.0%…

Higher oil prices no longer offer the Canadian Dollar reliable support, with housing stress, weak growth and rate differentials now driving CAD. Canada’s Dollar used to have a fairly simple story. Oil went up, and the currency usually followed. That relationship has weakened considerably. MRB Partners says the Canadian Dollar’s historical sensitivity to crude oil has “diminished materially over the past decade”, leaving domestic housing, credit and growth risks with far more influence over the currency. “Historically, the CAD would have been a go-to currency on the back of higher oil prices,” MRB said, “but its historical beta to crude…

Kevin Warsh’s ambiguity at the July FOMC means data releases like today’s carry greater risks of an outsized market reaction. Our call (70k) is close to consensus (80k), with only a tick higher in to 4.3%, which could drive a small dollar drop. We are still looking at no and dollar softening going forward USD: Unemployment Rate Can Tick Higher Today Our latest fair value models show that short-term rate differentials have become increasingly the predominant driver of USD moves of late. Federal Reserve Chair Kevin Warsh’s ambiguous communication incidentally means more flexibility for markets to interpret data under the…

The company reported a loss attributable to common shareholders of $1.8 billion or $1.17 per share for the quarter ended June 30. The results compared with a profit of $7 million in the same quarter last year. Operating revenue and other income totalled $4.92 billion, down from $5.08 billion a year earlier. On an adjusted basis, Telus says it earned 16 cents per share in its latest quarter compared with an adjusted profit of 22 cents per share a year earlier. Telus also announced a quarterly dividend to its shareholders of 18 cents per share, payable on Oct. 1. Source…

Palantir director Lauren Stat sells $500,280 in stock

Canada’s financial services sector, long characterised by stability and concentration among a handful of large banks, is undergoing a decisive digital transformation. Over the past 18 months, a confluence of regulatory reform, infrastructure modernisation and fintech innovation has begun to reshape how money moves, how data is shared and how consumers interact with financial institutions. The result is not merely incremental change, but the foundations of a more open, competitive and technology-driven system. The most significant shift has been the long-awaited arrival of consumer-driven banking, more commonly known as open banking. After years of consultation, the federal government confirmed in…

USD Thursday saw the dollar reverse its midweek slide, closing as the best performer in the G10 with the up around 0.3% to sit just shy of the 100 mark this morning. First, Hormuz optimism soured after Iranian state-linked media circulated a draft transit plan far more restrictive than markets had assumed, barring US and Israeli vessels and making full reopening conditional on Washington lifting its blockade. Second, labour market data surprised hawkishly, with Challenger layoffs at a two-year low, claims steady at 199k, and productivity beating alongside cooler unit labour costs. Whether or not that strength persists, however, now…

surpassed 1.3500 Friday after July payrolls printed minus 23,000 against an 80,000 consensus, then gave back part of the move as the dollar found a floor into the New York session. The pair had been drifting below 1.3450 pre-release, trapped inside the 1.3400–1.3500 band that has contained price action since the start of August. The setup into the number was tight. Thursday closed at 1.3451, down 0.11%, after a session that bounced off 1.3404 lows and stalled below 1.3486 highs. Wednesday printed 1.34607 and touched two-day highs past 1.3480 on the back of a soft ADP report — private payrolls…

Higher oil prices no longer offer the Canadian Dollar reliable support, with housing stress, weak growth and rate differentials now driving CAD. Canada’s Dollar used to have a fairly simple story. Oil went up, and the currency usually followed. That relationship has weakened considerably. MRB Partners says the Canadian Dollar’s historical sensitivity to crude oil has “diminished materially over the past decade”, leaving domestic housing, credit and growth risks with far more influence over the currency. “Historically, the CAD would have been a go-to currency on the back of higher oil prices,” MRB said, “but its historical beta to crude…