Author: Robert Jessi

Open this photo in gallery:The Bank of Canada raised its benchmark interest rate to 2.5 per cent, up from 2.25 per cent, for the first time in three years on Wednesday.Adrian Wyld/The Canadian PressOn Oct. 29, Economics reporter Mark Rendell, personal economics reporter Erica Alini and investment editor Darcy Keith answered questions on the Bank of Canada’s decision to increase its benchmark interest rate and what it means for the economy, consumers and the housing market. The central bank’s governing council voted on Wednesday to raise the policy rate for the first time in three years with the goal of…

At the start of a very busy week for FX markets, the dollar is largely holding onto recent gains. In focus are the US midterms, where betting markets attach a 70% probability to a clean sweep for the Democrats. Away from politics, we’ll receive updates on the US jobs market this week and are expecting rate hikes in the UK, Australia and Sweden USD: Contemplating the Midterms The dollar is fractionally lower at the start of the week. It may be taking its cue from oil prices, which are off 2-3% on reports that US President Donald Trump wants to…

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Canadian Dollar Forecast: ING Sees Oil Risk Behind 1.42 USD/CAD Call ING sees limited Canadian Dollar gains against the US Dollar as its oil outlook challenges expectations of sustained Bank of Canada tightening. The US Dollar to Canadian Dollar exchange rate was trading at 1.3985 on Thursday, little changed on the day and below 1.40 after the Bank of Canada raised interest rates. Latest-Exchange Rates: Dollar to Canadian Dollar (USD/CAD): 1.39694 (-0.13%) Pound to Canadian Dollar (GBP/CAD): 1.8723 (+0.06%) Euro to Canadian Dollar (EUR/CAD): 1.562662 (-0.09%) ING still expects the pair to recover to 1.42 at end-2026, retaining a forecast…

Gold attracts some bids at the start of the United States (US) mid-term election week after remaining under intense pressure in the last week of October. The precious metal is up 0.7% to near $3,900 after an over 3% decline last week, as oil prices have declined sharply on renewed hopes of United States (US)-Iran diplomacy.Why oil prices fall significantly?The comments from Washington that US President Donald Trump is prioritizing diplomacy with Iran over restarting the war, indicated earlier, have eased fears of prolonged energy supply disruption.As of writing, the WTI Oil price is down 2% to near $100 after…

The other night, we were discussing how AI is helping us in our respective professions, and how it has made life more productive, but also fun in many ways. It’s easier to synthesize information, access resources and, sometimes, with all the time saved, find a few extra moments in the day to just be. I remarked that while it’s easy to be skeptical, and there are legitimate fears and concerns, it’s worth accepting that life since AI became commercially accessible is not only different, but also kind of cool. This conversation, and the thought of sometimes just accepting things for…

China big bank shares jump after robust third-quarter earnings

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining steady after posting modest gains in the previous day and trading near 102.00 during Asian hours on Monday.The Greenback moves little amid easing safe-haven demand, driven by ongoing diplomatic efforts to end the Middle East conflict despite lingering fears of renewed US military action against Iran. Qatari and Iranian officials continued discussions for a third consecutive day, working toward an agreement to end the war ahead of the US midterm elections.However, the US Dollar could regain ground on rising expectations…

The Federal Reserve’s 2% inflation goal grew out of an off-the-cuff remark by a New Zealand politician in 1988. Bond investors still price long-term US debt as if 2% holds, so a change in how the Fed measures inflation would move markets.On April 1, 1988, New Zealand Finance Minister Roger Douglas said on television that he wanted inflation somewhere between zero and 1%, without checking the number with his officials. Central bank after central bank copied the idea, and that answer became the 2% goal that $31.835 trillion of tradable US Treasury debt is priced around. The risk to that…

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