Author: Robert Jessi

Horizon Kinetics Asset Management buys $2,283 of RENN Fund stock

Canada took another step toward its long-awaited open banking system today with the release of proposed regulations.  The news: The Department of Finance published draft open banking regulations on Friday that would govern how the long-awaited financial data-sharing system would work in Canada. The proposed rules, which outline how FinTechs can participate and what data banks would be required to share with them, are open for a 60-day public consultation period.  Under the proposed system, which aims to give consumers more control over their financial information, banks and other financial institutions would be required to share data like account…

US Dollar Dances in the Dark

Japan may be changing its intervention playbook, but that might not be enough to rescue the battered Yen. With USD/JPY hovering at four-decade highs, the currency’s weakness is being driven less by speculative pressure and more by a powerful structural force: the wide US-Japan rate gap. BoJ hikes may slow the decline, but as long as the carry trade remains attractive, markets could keep testing how far Japanese authorities are willing to go.Yen receives short-lived support from stealth intervention risksReports of a significant shift in Japan’s intervention tactics briefly bolstered the Japanese Yen last Thursday, though the market anxiety subsided…

The Pound to Canadian Dollar (GBP/CAD) exchange rate climbed to its strongest level in around a decade on Monday as persistently weak oil prices continued to undermine the commodity-linked Canadian Dollar. At the time of writing, GBP/CAD was trading at CA$1.8971, having eased back slightly after touching a session high of CA$1.8980. Latest — Exchange Rates:Pound to Canadian Dollar (GBP/CAD): 1.89894 (+0.16%)Euro to Canadian Dollar (EUR/CAD): 1.623308 (-0.04%)Dollar to Canadian Dollar (USD/CAD): 1.42169 (+0.12%) DAILY RECAP: The Canadian Dollar (CAD) found itself under pressure on Monday, as weaker oil prices continued to weigh heavily on the commodity-linked currency. Crude has…

The USD/CAD pair loses ground to near 1.4165 during the Asian trading hours on Thursday. A rise in crude oil prices provides some support to the commodity-linked Canadian Dollar (CAD) against the US Dollar (USD). Traders await the US weekly Initial Jobless Claims report later on Thursday.Axios reported that the US strikes hit a rail line in Golestan province in northeastern Iran, near the border, using cruise missiles. It marked the first US strike on Iranian infrastructure since the ceasefire took hold. Iran said multiple US artillery shells struck a railway bridge west of Aghala in Golestan early Thursday, triggering…

Crypto’s appeal lies in its growth potential and its ability to diversify a portfolio, but it comes with sharp price swings and uncertain long-term outcomes. The key question isn’t just whether it might boost returns, but whether it fits your risk tolerance and overall strategy. For investors looking to explore the space, platforms like Coinbase have helped make buying, selling, and holding crypto more accessible in Canada. BTC outperformed the stock market in 7 of the past 10 years As the table below shows, since 2016 BTC has outperformed the S&P 500 (U.S. stock market index), S&P/TSX Composite (Canadian stock…

US military carries out fresh strikes on Iran, prompting Iran attacks on Kuwait and Bahrain

The Federal Reserve’s preferred inflation gauge showed prices heated up to the highest level in three years, likely keeping the central bank holding interest rates steady with an eye toward hiking if inflation doesn’t dissipate. The Personal Consumption Expenditures index rose 4.1% in May, in line with expectations, and up from 3.8% in April. Month over month, inflation rose to 0.4%, a tenth of a percentage point less than expectations and the same level as April. Excluding volatile energy and food prices, the way the Fed prefers to assess the inflation gauge, “core” PCE rose to 3.4%, in line with…

NZD/USD extends its gains for the second successive day, trading around 0.5720 during the Asian hours on Thursday. The pair holds gains as the New Zealand Dollar (NZD) remains stronger following the Consumer Price Index (CPI) inflation data release from New Zealand’s close trading partner, China.The National Bureau of Statistics (NBS) of China reported that inflation came in at 1.0% year-over-year (YoY) in June, against the 1.2% in May. The market consensus was for 1.1% in the reported period. CPI inflation arrived at -0.3% MoM in June versus a decline of 0.1% prior, softer than the expectation of a 0.2%…