Author: Robert Jessi

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…

The Aussie Dollar’s recovery appears to have met some resistance just above the 0.7000 threshold against the US Dollar so far. Indeed, AUD/USD still struggles to surpass that mark in a convincing fashion, while the constructive outlook appears unchanged above its critical 200-day SMA near 0.6890. Looking at the broader picture, the RBA’s cautious stance and still sticky domestic inflation are also expected to underpin the Aussie in case of occasional bouts of weakness.The Australian Dollar (AUD) builds on Monday’s optimism, keeping AUD/USD close to the key 0.7000 region on Tuesday.In the meantime, the pair seems to ignore the persistent…

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 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…

Investing.com — British retailer Frasers () said Tuesday it increased its stake in Hugo Boss () to about 30.28%, passing a threshold that requires a mandatory takeover bid under German regulations. The company purchased an additional 2.55 million shares in the German fashion house, bringing its holdings above the 30% limit. Frasers previously owned a 26.06% stake in Hugo Boss, making it the company’s largest shareholder. Frasers proposed in June to acquire Hugo Boss for €38 per share, valuing the deal at roughly €2 billion, or $2.28 billion. The German company advised its shareholders to reject the proposal, calling it…