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DKK taken for a ride on the dollarcoaster

DKK taken for a ride on the dollarcoaster

The Danish krone bounced back from its 3-day low against the dollar this morning after tumbling by over 0.90 percentage points following a fall in general risk appetite, with equities in the US falling and treasuries rising.

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Measuring China’s rebound: Q2 GDP due on Thursday 16th

Measuring China’s rebound: Q2 GDP due on Thursday 16th

Since the economic shock in Q1, the road to recovery has been relatively smooth by current standards, although a minor outbreak in Beijing is likely to have shaken consumer sentiment, while flooding in southern China hampered agricultural output.

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CAD labour market data

CAD labour market data

While expectations sit at a 700K rise in employment and a reduction in the unemployment rate from 13.7% to 12.1%, it must be noted that last month’s employment gain still resulted in a rise in the unemployment rate due to the number of workers re-entering the workforce.

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Dollar bounces back on virus concerns and Federal election fears

Dollar bounces back on virus concerns and Federal election fears

The dollar spun around in yesterday’s session to close higher in the afternoon. General risk appetite diminished in the afternoon of the European session, with equities falling in the US and treasuries rising. California, Texas and Florida recorded their highest daily death count due to the virus on Wednesday, with figures yesterday showing 120 new deaths in Florida alone.

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Fiscal snapshot gives transparency to markets

Fiscal snapshot gives transparency to markets

Finance Minister Bill Morneau’s fiscal snapshot this afternoon has helped extend the loonie rally as the dollar broadly weakens towards the back-end of today’s session. Additionally, the Canadian government bond curve bear steepened as issuance numbers are set to rise at unprecedented rates; the 30Y yield rose 7.68bps vs the 1.5bp rally in the 2-year yield.

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It’s all fiscal for GBP and CAD today

It’s all fiscal for GBP and CAD today

All eyes will be on the budget today and the implications it has for the OBR’s next fiscal projections set for release on the 14th July. The reaction in Gilt markets is likely to be in focus, especially with the front-end of the curve, except the 1Y, trading with a negative yield already. 

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Loonie not impressed by BoC Business Outlook Survey

Loonie not impressed by BoC Business Outlook Survey

The loonie steadied near a two-week high against the dollar ahead of the Bank of Canada Q2 business outlook survey and was little changed after the survey was released. The quarterly business outlook survey helps guide monetary policy decisions as it provides a good anecdotal account of conditions in the real economy.

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Meet the team

Ranko Berich

Ranko Berich

Head of Market Analysis

Ranko Berich heads up the team of analysts at Monex Canada and Monex Europe. The analysis team provide timely insight and commentary on developments in currency movements and their drivers.
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Simon Harvey

Simon Harvey

FX Market Analyst

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Olivia.Alvarez

Olivia Alvarez

FX Market Analyst

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