Markets Fed Chair Powell implicitly defended the base case as set out in the updated September dot plot. This year’s median suggested an additional 50 bps of cumulative Fed rate cuts, being 25 bps in November and 25 bps in December with the Fed taking its time after the bumper liftoff. Powell indicated that the […]
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US durable goods orders dropped -1.1% mom in November to USD 285.1B, significantly missing market expectations of a -0.3% mom decline. This also marks the third decline in the last four months. Excluding transportation, orders Read more…
Canada’s GDP rose 0.3% mom in October, surpassing expectations of 0.2% mom, with 12 out of 20 sectors contributing to the growth. This marked a rebound for the goods-producing industries, which expanded by 0.9% mom Read more…
The Canadian dollar posted its fourth straight losing week, declining about 1%. In Monday’s European session, USD/CAD is trading at 1.4397, up 0.16% at the time of writing. Canada’s GDP expected to remain at 0.1% Read more…