Navigate Up
Sign In

Central banks stand pat

Posted on: February 02, 2017

Yesterday it was the US Fed’s turn in the Central Bank shuffle, and they managed to underwhelm the market by failing to provide the hawkish “surprise” that most were expecting. The USD was sold against most crosses, with the market is now looking towards June as the most likely first hike. This makes the whole “three hikes in 2017” idea very compressed.

Overnight, it was Mark Carney and the Bank of England’s turn. They left rates unchanged at 0.25% and the asset purchase target also remained static, but they did bump up the GDP forecast to 2%. The big outperformer overnight was our friends down under, as strong trade numbers out of Australia has the AUD rallying against most crosses, stalling before 0.77 against the USD.

This morning the data is limited, with US Initial Jobless Claims coming in slightly below expectations. Markets seem to be consolidating ahead of Non-Farm Payrolls tomorrow, but that could all change in 140 characters or less these days. USDCAD has taken another run below 1.3000 overnight and this morning, but 1.2980 is holding for now. Should we see a break below, we will be able to gauge participants appetite for a run lower by the enthusiasm for running stops around 1.2950/1.2900.

  • Yesterday’s NA Range 1.3036 – 1.3102
  • Asia Overnight Range 1.2999 – 1.3052
  • London Overnight Range 1.2981 – 1.3013


Most Recent Market Updates

November 20, 2017

Natural gas gains 4.4 cents

NYMEX natural gas climbed 4.4 cents higher on Friday.

November 20, 2017

Crude gained $1.41

Crude prompt futures gained $1.41 on Friday to close the day at $56.55.

November 17, 2017

Natural gas falls 2.7 cents

NYMEX natural gas continued it’s decent on Thursday.

November 17, 2017

Crude prices slide $0.19

Crude prompt futures traded in a 69 cent range.

November 17, 2017

USDCAD range bound as Canadian CPI uneventful

Domestically we saw the biggest release of the week a few minutes ago.

November 14, 2017

Natural gas loses 5 cents

Cold weather emerged over the long weekend in the US Midwest to East as anticipated.


Talk to a specialist

GlassdooreSSENTIAL Accessibility™Diversity and InclusionATB Listens

About ATB | Contact Us | Find a Branch or ABM | Current Rates | Privacy and Security | Legal | Code of Conduct | Site Map | Vendor Resources

2017 ATB Financial. All rights reserved. ®ATB Financial is a trade name/registered trademark of Alberta Treasury Branches.

ATB Financial