Author: Robert Jessi

On an adjusted basis, Scotiabank says it earned $2.28 per diluted share in its latest quarter, up from an adjusted profit of $1.88 per diluted share a year earlier. Revenue for the quarter totalled $10.54 billion in its third quarter, up from $9.49 billion in the same quarter last year. Scotiabank’s provision for credit losses for the quarter amounted to $1.08 billion, up from $1.04 billion a year ago. Analysts on average had expected an adjusted profit of $2.10 per share and $9.99 billion in revenue, according to LSEG Data & Analytics. Source Google BMO reports Q3 profit down from…

Tenax presents additional Phase 3 trial data for TNX-103

At the end of a quiet week in FX, the highlight today is a speech from Fed Chair Kevin Warsh at the . Given that financial innovation is the theme of the event, there are no guarantees he’ll go anywhere near monetary policy today. However, FX markets and risk assets in general will take their cue from how perform USD: Will Warsh Go Near Monetary Policy Today? It has been a quiet, risk-positive week for global asset markets. Volatility remains low, and the picture in G10 FX has been mixed, with certainly no follow-through on the dollar debasement theme which…

It has been a bit of a snoozer in FX this week. The Long End Is Running the Show It has been a bit of a snoozer in FX this week. Volatility has been squeezed, carry has been clipping coupons, and last week’s brief revival of the dollar-debasement trade has run out of road. I have no speculative position on or the dollar here. That particular horse trade has stopped running for now. But the FX map itself has barely changed. What has changed is where traders should be looking for the next directional signal. Right now, that signal may…

The Canadian dollar weakened on Friday and was on track for its sharpest weekly decline in more than two months, as a stronger U.S. dollar overshadowed surprisingly robust Canadian economic growth. The loonie traded near C$1.3900 against the U.S. dollar, falling about 0.3% to roughly 71.94 U.S. cents. USD/CAD earlier reached C$1.3908, marking the Canadian currency’s weakest level in nine days as traders increased expectations for a Federal Reserve interest rate hike in September. Pressure on the Canadian dollar intensified after Fed Chair Kevin Warsh delivered a hawkish message on inflation at the Jackson Hole economic symposium. Warsh indicated the…

The Canadian dollar ended its up-and-down week by moving backwards despite supportive economic data from Statistics Canada.      The loonie finished at US$0.7200 or US$1=C$1.3888 on Friday, compared to US$0.7214 or US$1=US$1.3861 on Thursday.      StatCan reported today that Canada’s economy grew at an annualized rate of 3.3 per cent in the second quarter, compared to 0.3 per cent growth in the first.      The United States Dollar Index was up 0.51 of a point at 99.67.      Federal Reserve chairman Kevin Warsh said at a press conference today he has concerns over inflation and the central bank may need…

The financial fallout can last for years “The impacts of these natural disasters are much broader than just that physical damage. It can disrupt virtually every aspect of someone’s financial life,” said Ali Harris-Saunders, with the non-profit Credit Counselling Society.  She divides the financial impacts into near- and long-term. Near-term includes the cost of accommodations, food, and other essentials during an evacuation, along with lost income and repairs to damaged property. Longer-term considerations could include reduced property values, higher insurance premiums, and the debt that often racks up once emergency funds are depleted.  “I find that for many households, the biggest challenge isn’t the actual disaster itself. It’s the financial strain that follows after it,” Harris-Saunders said.  Mortgage, phone, and utility providers can often offer temporary relief in…

Pulse Biosciences COO Liane Teplitsky buys $99,965 in stock

Commerzbank’s Charlie Lay reports that the Bank of Korea (BoK) delivered a second consecutive 25 bp hike to 3.0% and kept a tightening bias, supporting KRW after its sharp appreciation since June. The bank expects a near-term pause but sees scope for another hike to 3.25% if growth and core inflation stay firm, with USD/KRW likely consolidating in a 1,360–1,400 range.Won strength seen consolidating after rally”Looking ahead, BoK maintained a tightening bias, although the pace of further hikes is likely to slow following the cumulative 50bp of tightening since July.””The results showed that of the 21 dots, 10 are at…

The EUR/USD pair pulled back in the last full week of August, settling a handful of pips below the 1.1600 mark. The US Dollar (USD) was able to post a comeback after suffering steady losses throughout the month, exacerbated by the United States (US) Department of the Treasury announcement of increased long-bond buybacks on August 19. The recovery that followed the sell-off seems corrective as the pair holds far above the monthly low at 1.1350, yet closer to the peak at 1.1710.The Middle East war was the main factor behind USD strength between March and July as the conflict pushed…