Rallies Archives - Zxcoachoutlet

CANADA FX DEBT-Canadian dollar rallies on higher oil prices, U.S. stimulus hopes

October 8, 2020

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(Adds strategist quotes and details throughout, updates prices)

* Canadian dollar rises 0.4% against the greenback

* Loonie touches its strongest since Sept. 21 at 1.3198

* Canadian housing starts fall 20% in September

* Canadian bond yields ease across much of the curve

By Fergal Smith

TORONTO, Oct 8 (Reuters) – The Canadian dollar rose to a
more-than two-week high against the greenback on Thursday as
higher oil prices and the potential for U.S. stimulus offset
comments from Bank of Canada Governor Tiff Macklem, leaving
negative interest rates on the table.

U.S. stocks climbed as President Donald Trump fueled hopes
of fresh fiscal aid, while the price of oil, one of Canada’s
major exports settled 3.1% higher at $41.19 a barrel on support
from output shutdowns ahead of a storm in the U.S. Gulf of
Mexico.

“The market is coming to terms with an era of easy money
from

Canadian dollar notches a 17-day high as oil rallies

October 8, 2020

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TORONTO (Reuters) – The Canadian dollar strengthened to a more-than two-week high against the greenback on Thursday as oil prices rose, while Bank of Canada Governor Tiff Macklem left negative interest rates on the table if the coronavirus crisis were to worsen.

The BoC is not actively discussing negative interest rates but they are a tool the bank could use in case it needs to do more to tackle economic challenges caused by the coronavirus outbreak, Governor Tiff Macklem said. “Never say never,” he said.

The price of oil, one of Canada’s major exports, was supported by output shutdowns in the U.S. Gulf of Mexico and the prospect of more supply losses in Norway, as well as by hopes for some U.S. coronavirus relief aid. U.S. crude <CLc1> prices were up 2.8% at $41.06 a barrel.

The Canadian dollar <CAD=> was trading 0.1% higher at 1.3243 to the greenback, or

Oil Rallies On Stimulus Hopes

October 6, 2020

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Oil prices climbed higher at the start of the week due to an oil strike in Norway, stimulus talks in the U.S. congress and a hurricane in the Gulf of Mexico

Chart of the Week

– U.S. natural gas production, consumption, and gross exports all set new records in 2019.

– Production rose by 10 percent to 93.1 bcf/d, consumption was up 3 percent, and exports were up by 29 percent to 12.8 bcf/d.

– Texas saw its gas production rise by 15 percent, rising to 22.2 bcf/d. Pennsylvania’s output rose by 10 percent to 18.6 bcf/d.

– However, towards the end of 2019, gas production began to contract due to a shrinking rig count and low prices.

Market Movers

– Equinor (NYSE: EQNR) shut down four offshore oil fields in the North Sea due to a worker’s strike. The fields produce more than 330,000 barrels of oil equivalent per

Oil Rallies From 3-Week Low Buoyed by Trump’s Improving Health

October 5, 2020

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(Bloomberg) — Oil rose from a three-week low after a member of Donald Trump’s medical team said the U.S. president could leave hospital as soon as Monday, despite contradictory accounts about his health.

Futures advanced as much as 3.7% in New York, mirroring a broader relief rally in stock markets, after the biggest weekly drop since June. Trump’s condition remained clouded by confusion, with the president making a surprise outing from the medical center in a show of strength.

Meanwhile, a strike in Norway has cut about 330,000 barrels a day of production, though the country’s largest field is continuing to pump. Eqiunor ASA is shutting down four North Sea fields after employers and employees failed to find common ground on a wage deal.

chart, line chart: Speculators had cut bullish bets on crude before Monday's rally

© Bloomberg
Speculators had cut bullish bets on crude before Monday’s rally

The recent bout of price weakness has pushed Brent oil back to near $40,

CANADA FX DEBT-Canadian dollar rallies on stimulus hopes, but monthly win streak ends

September 30, 2020

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(Adds strategist quotes and details throughout; updates prices)

* Canadian dollar advances 0.5% against greenback

* Canadian GDP increases 3% in July

* Loonie declines 2.1% in September

* Canadian government bond yields rise across steeper curve

By Fergal Smith

TORONTO, Sept 30 (Reuters) – The Canadian dollar
strengthened to a one-week high against the greenback on
Wednesday as hopes of additional U.S. stimulus rose and data
showed the domestic economy extending its recovery, with the
loonie clawing back some of this month’s decline.

The loonie was trading 0.5% higher at 1.3323 to the
greenback, or 75.06 U.S. cents. The currency touched its
strongest intraday level since last Wednesday at 1.3301.

Still, the loonie posted a monthly decline for the first
time since March as rising Canadian coronavirus cases weighed on
investor sentiment. It ended September 2.1% lower.

The big driver for investors was news “that there’s some
progress on

Wall Street rallies to close out strong, but wild quarter

September 30, 2020

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FILE – In this Monday, Sept. 21, 2020 file photo, a giant American Flag hangs on the New York Stock Exchange. Wall Street is rallying Wednesday, Sept. 30 on rising hopes that Washington may pierce through its paralyzing partisanship to offer more aid for the economy. less

FILE – In this Monday, Sept. 21, 2020 file photo, a giant American Flag hangs on the New York Stock Exchange. Wall Street is rallying Wednesday, Sept. 30 on rising hopes that Washington may pierce through its … more

Photo: Mary Altaffer, AP

FILE – In this Monday, Sept. 21, 2020 file photo, a giant American Flag hangs on the New York Stock Exchange. Wall Street is rallying Wednesday, Sept. 30 on rising hopes that Washington may pierce through its paralyzing partisanship to offer more aid for the economy. less

FILE – In this Monday, Sept. 21, 2020 file photo, a giant American

Eanes ISD school rallies behind beloved custodian battling COVID-19, raise money for hospital bills

September 30, 2020

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AUSTIN (KXAN) — The Forest Trail Elementary School community is stepping up to support one of their longtime custodians, Albino Hernandez.

Hernandez is in the hospital fighting for his life, battling COVID-19 and its complications. Over the last two months, Hernandez has had to be hospitalized at three different hospitals.

“We were just seeing that he wasn’t getting better and when they gave us a chance to see him, they were like, ‘OK, well I guess we just need to get ready for the worst,’” said Vivi Hernandez, one of Hernandez’s daughters.

At present, Hernandez is slowly recovering. He remains on dialysis, a ventilator and extracorporeal membrane oxygenation or ECMO, a life support machine. His family remains hopeful.

“There has been progress,” said Janie Hernandez, another of Hernandez’s daughter. “Little progress, but there is progress.”

“I know that God is working on him,” Vivi said, holding back tears.

Once recovered,

Canadian dollar sell-off stalls as Wall Street rallies

September 28, 2020

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By Fergal Smith

TORONTO (Reuters) – The Canadian dollar edged higher against its broadly weaker U.S. counterpart on Monday as oil clawed back some of this month’s decline and stock markets rose globally, with the loonie finding some support after posting three straight weekly declines.

Wall Street surged in a broad rally as investors sought bargains among sectors hardest hit by the coronavirus recession, while the U.S. dollar <.DXY> pulled back from a two-month high against a basket of major currencies.

Investors are putting aside for now evidence of rising coronavirus cases, “thinking there is still the vaccine news to mitigate concerns about a second wave,” said Shaun Osborne, chief currency strategist at Scotiabank.

“But it has got to be a potential threat for risk assets going forward and that keeps the CAD a bit more defensive,” Osborne added.

Canada runs a current account deficit and is a major exporter

Pound Rallies as Traders Bet on a Breakthrough in Brexit Talks

September 28, 2020

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(Bloomberg) —

The pound surged the most in six months on speculation that successful Brexit trade negotiations this week could help shield Britain from a messy rupture with the European Union.

Sterling outperformed major currencies to rise as much as 1.4% to $1.2930, as the markets digested a more conciliatory tone from officials on both sides. Some investors are betting that despite some lingering tensions, the U.K. isn’t in a position to pursue political brinkmanship for much further.

chart: Sterling outperforms peers on hopes for a Brexit deal

© Bloomberg
Sterling outperforms peers on hopes for a Brexit deal

Read More: Brexit Talks Enter Key Week With Time and Trust Running Out

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“Given that we are in the middle of the Covid crisis, I think it is well understood that the U.K. cannot make good on a threat to end up with no deal,” said Mark Dowding, chief investment officer at BlueBay Asset Management.

“Our sense was that

Pound Rallies on Optimism That Brexit Trade Talks May Succeed

September 28, 2020

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(Bloomberg) —

The pound surged the most in six months on speculation this week’s Brexit trade negotiations could deliver a breakthrough and shield Britain from a messy rupture from the European Union.

Sterling outperformed major currencies to rise as much as 1.4% to $1.2930, the biggest rise since late March, as investors digested a more conciliatory tone from officials on both sides.

“Sterling is benefiting into the start of the week from mildly positive tone ahead of Brexit negotiations,” said Jeremy Stretch, head of G-10 currency research at Canadian Imperial Bank of Commerce in London. “The general risk-on tone is also good for sterling.”

chart: Sterling outperforms peers on hopes for a Brexit deal

© Bloomberg
Sterling outperforms peers on hopes for a Brexit deal

Read More: Brexit Talks Enter Key Week With Time and Trust Running Out

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Britain risks crashing out of the EU’s single market without a trade accord at year-end if a deal isn’t reached.