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U.S. Highlights Foreign central banks took center stage this week. The Central Bank of Turkey raised its policy rate to 24% from 17.75% in the hope of retaining and attracting new foreign capital. The ECB confirmed it will taper its asset purchases to €15 bn a month in October, with the program slated to end …
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U.S. Highlights Concerns about emerging markets continued to weigh on investor sentiment this week, with the selloff in EM assets and currencies spreading beyond Turkey and Argentina. Meanwhile, domestic data remained positive. ISM indices for both manufacturing and services sectors rose handsomely in August. The payroll report delivered another batch of good news with 201k …
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Canadian Highlights The Canadian dollar edged higher this week as dovish comments by Federal Reserve Chair Powell weighed on the greenback. A softer dollar also supported oil prices, with the benchmark WTI up close to 5% from its close last week to just shy of $70 a barrel (as of writing). It was a light …
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U.S. Highlights Concerns about Turkey drove market volatility this week, but U.S. equity markets managed a rebound. Strong retail sales and historically-high small business optimism suggest a strong economic expansion in the U.S. this quarter. Although concerns eased by week’s end, Turkey is not out of the woods yet. It remains in the early stages …
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U.S. Highlights The U.S. economy generated solid job growth in July with payrolls expanding by 157k (170k private). The unemployment rate edged down to 3.9% (from 4.0%) and the core (25-54) labor force participation rate moved higher. Tariff concerns were once again in the spotlight. While the U.S. and EU called a truce, the battle …
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