Investing

USDCAD to 1.30?

Today’s U.S. economic reports reminded investors of the dollar’s appeal.  The labor market is strong and the Federal Reserve will be actively reducing stimulus this year driving rates higher.

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Dollar Dominance on Strong Retail Sales

Investors bought U.S. dollars after retail sales rose for the third month in a row. The increase in demand was widely anticipated but the increase in overall spending along with spending ex autos beat expectations.  This means that while higher prices certainly played a role in the gains, consumers were not discouraged by price hikes to spend more on electronics, sporting goods, books and musical instruments.  Spending at clothing stores declined modestly from the previous month but that will change in November and December with holiday shopping.  Economists expect a strong holiday season with many retailers starting sales extra early this year in anticipation of shipping delays. 

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AMC – the Popcorn is Getting Stale

AMC, one of the great meme stock stories of the year remains relatively close to its mania highs but forward progress has come to a grinding halt and the longer that dynamic lasts the more likely the stock is to fall. 

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Dovish Fed Taper, Could BoE Hike?

Once the dust settled, the dollar ended the day virtually unchanged (slightly lower) from its pre-FOMC levels against other the major currencies. Stocks and bond yields ended higher which should benefit the Yen crosses.

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