AUD/USD Forecast – Australian Dollar Continues to Work For Momentum

The Canadian Press
Canada Post reports $748-million pre-tax loss for 2023, warns of worse ahead
OTTAWA — Canada Post says it lost $748 million before tax last year as it warned larger, unsustainable losses are likely ahead without changes to its business model. The Crown corporation says it's struggling amid intense competition in parcel delivery services that has led to its market share eroding from 62 per cent pre-pandemic to 29 per cent last year. It says the rise in parcel competition comes as the postal service has also seen a declining numbers of letters, even as the number of addres
Financial Post
David Rosenberg: Why the Bank of Canada needs to start cutting rates … Now
Key data points indicate the central bank is keeping policy 'far too tight'
Reuters
Canadian dollar forecasts trimmed by analysts as BoC moves closer to rate cuts: Reuters poll
The Canadian dollar is set to strengthen less than previously expected over the coming year as the Bank of Canada makes progress on taming inflation and will likely begin cutting interest rates ahead of the Federal Reserve, a Reuters poll found. According to the median forecast of nearly 40 foreign exchange analysts in the April 29-May 2 poll, the loonie will strengthen 0.7% to 1.36 per U.S. dollar, or 73.53 U.S. cents, in three months, compared to 1.34 in last month's poll. "In the near term, I think there are going to be some headwinds," said Bipan Rai, global head of FX strategy at CIBC Capital Markets.
INSIDER
China's true military spending in 2022 was likely worth $711 billion, or 'nearly equal' to the US military budget that year: US think tank
That's compared to a US military budget of around $742 billion that year, which was spread out across various theaters in the world.
The Canadian Press
Federal Reserve says interest rates will stay at two-decade high until inflation further cools
WASHINGTON (AP) — The Federal Reserve on Wednesday emphasized that inflation has remained stubbornly high in recent months and said it doesn’t plan to cut interest rates until it has “greater confidence” that price increases are slowing sustainably to its 2% target. The Fed issued its decision in a statement after its latest meeting, at which it kept its key rate at a two-decade high of roughly 5.3%. Several hotter-than-expected reports on prices and economic growth have recently undercut the Fe
CBC
Top soldier says military looking for 'clarity' on Ottawa's budget plans
Just over a month into the new fiscal year and two weeks after the federal budget, the Department of National Defence is struggling to reconcile the Liberal government's approach to military funding — giving with one hand while taking with the other. Gen. Wayne Eyre, the country's top military commander, told the rank-and-file in a remote town hall event last week that he doesn't have answers to crucial questions about how internal budget cuts and funding reallocation square with promises of add
Business Insider
Russia's economic survival hinges on prolonging the Ukraine war, think tank expert says
"Should the authorities attempt to halt militarization, a hard landing could add pressure to the government," Elina Ribakova wrote for FT.
Business Insider
The stock market's sell-off is over and the Fed gave 5 bullish signs to investors at its latest meeting, Fundstrat's Tom Lee says
The Fed looks increasingly dovish, setting stocks up for a gain in May, according to Fundstrat's head of research Tom Lee.
CNN Business
Sell in May and go away? Think again
The Wall Street adage suggests investors should dump stocks this month and return to the market in November. But gutting your portfolio before the summer may not be a recipe for success.
The Canadian Press
Stock market today: Asian markets follow Wall Street swings after Fed keeps interest rates high
HONG KONG (AP) — Asian markets wobbled in early Thursday trading after U.S. stocks swung to a mixed finish with the Federal Reserve delaying cuts to interest rates. U.S. futures surged and oil prices were higher. Tokyo’s Nikkei 225 index opened with a decline, then climbed 0.1% to 38,299.71. The Japanese yen surged as much as 2% in early Asia hours Thursday, driven by speculations of another round of yen-buying intervention by Japanese authorities and a weaker U.S. dollar following the Fed meeti
Reuters
Toronto home sales fall for third month in April; prices rise
Greater Toronto area home sales fell in April for a third straight month and prices crept up, as over two-decade high interest rates kept the lid on housing market recovery in Canada's main metropolitan region, data showed on Thursday. Seasonally adjusted sales declined 3.4% in April from the previous month after falling 2.4% in March, according to Toronto Regional Real Estate Board (TRREB) data. Average home prices were up 1.5% last month to C$1.12 million ($819,072.69), the highest since December, while new listings were down 5.9%, the date showed.
Bloomberg
Weaker-Than-Forecast Remittances Cloud Mexico’s Growth Outlook
(Bloomberg) -- Mexicans abroad sent home less money than expected in March in another blow to the cooling economy. Most Read from BloombergSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineTurkey Confirms All Trade Halt With Israel Over War in GazaHuawei Secretly Backs US Research, Awarding Millions in PrizesBiden Calls Ally Japan ‘Xenophobic’ Along With China, RussiaIn Jamie Dimon's America, the Stock Market Has Already VotedTotal remittances fell to $5.02 billion, down 3% from a ye
Financial Post
Eliminating carbon tax would only have 'temporary' effect on inflation, Macklem says
'Inflation would drop for one year, and then after that, it would go back to where it otherwise would have been,' Bank of Canada governor says
Moneywise
Kevin O’Leary says Americans should ‘get used to the idea’ that the Fed won’t offer reprieve to rates in 2024
Despite the fact that they "keep pushing out their optimism month after month."
Fortune
Analysts have long complained about fuzzy statistics from China. A proposed new statistics law shows Beijing is worried too
Economists and even Chinese officials have used their own pet statistics to better understand the world’s second-largest economy.
Reuters
Canada posts surprise trade deficit as gold exports fell in March
OTTAWA (Reuters) -Canada in March recorded a surprise trade deficit of C$2.28 billion ($1.66 billion), the largest in nine months, as exports declined faster than imports, data showed on Thursday. Total exports fell 5.3% in March mainly due to exports of unwrought gold declining from a record high reached in February, while imports were down 1.2%, led by electronics and metal ores and non-metallic minerals, Statistics Canada said. Analysts polled by Reuters had forecast a trade surplus of C$1.50 billion in the month.
Bloomberg
Bond Market Parties On as Jobs Data Revive Fed Rate-Cut Bets
(Bloomberg) -- The world’s biggest bond market is back in celebration mode after its worst month in more than a year.Most Read from BloombergEverything Apple Plans to Show at May 7 ‘Let Loose’ iPad EventSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineApple Rallies Most in 18 Months on Upbeat Forecast, BuybackTrump Auditions VP Picks Before Wealthy Donors in Palm BeachHuawei Secretly Backs US Research, Awarding Millions in PrizesEvidence that the US labor market is finally softening
The Canadian Press
US employers scaled back hiring in April. How that could let the Fed cut interest rates
WASHINGTON (AP) — The nation’s employers pulled back on their hiring in April but still added a decent 175,000 jobs in a sign that persistently high interest rates may be starting to slow the robust U.S. job market. Friday’s government report showed that last month’s hiring gain was down sharply from the blockbuster increase of 315,000 in March. And it was well below the 233,000 gain that economists had predicted for April. Yet the moderation in the pace of hiring, along with a slowdown last mon
Associated Press
Czech central bank cuts a key interest rate again with inflation down and the economy on the mend
The Czech Republic’s central bank on Thursday cut its key interest rate for the fourth straight time as inflation dropped and the economy showed signs of recovery. The cut by a half-percentage point brought the interest rate down to 5.25%. The bank started to trim borrowing costs by a quarter-point on Dec. 21, which marked the first cut since June 22, 2022.
Reuters
US labor market still tight; productivity falters in first quarter
WASHINGTON (Reuters) -The number of Americans filing new claims for unemployment benefits held steady at a low level last week, pointing to a still fairly tight labor market that should continue to underpin the economy in the second quarter. Economists largely shrugged off other data from the Labor Department on Thursday showing growth in worker productivity almost stalled in the first quarter, noting that the trend in productivity remained solid. At face value, the sharp slowdown in productivity and accompanying surge in labor costs would raise concerns about inflation pressures building up as well as profit margins being squeezed, which would impact demand for labor.

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AUD/USD Forecast – Australian Dollar Continues to Work For Momentum

Australian Dollar vs US Dollar Technical Analysis

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Latest Stories

Canada Post reports $748-million pre-tax loss for 2023, warns of worse ahead

David Rosenberg: Why the Bank of Canada needs to start cutting rates … Now

Canadian dollar forecasts trimmed by analysts as BoC moves closer to rate cuts: Reuters poll

China's true military spending in 2022 was likely worth $711 billion, or 'nearly equal' to the US military budget that year: US think tank

Federal Reserve says interest rates will stay at two-decade high until inflation further cools

Top soldier says military looking for 'clarity' on Ottawa's budget plans

Russia's economic survival hinges on prolonging the Ukraine war, think tank expert says

The stock market's sell-off is over and the Fed gave 5 bullish signs to investors at its latest meeting, Fundstrat's Tom Lee says

Sell in May and go away? Think again

Stock market today: Asian markets follow Wall Street swings after Fed keeps interest rates high

Toronto home sales fall for third month in April; prices rise

Weaker-Than-Forecast Remittances Cloud Mexico’s Growth Outlook

Eliminating carbon tax would only have 'temporary' effect on inflation, Macklem says

Kevin O’Leary says Americans should ‘get used to the idea’ that the Fed won’t offer reprieve to rates in 2024

Analysts have long complained about fuzzy statistics from China. A proposed new statistics law shows Beijing is worried too

Canada posts surprise trade deficit as gold exports fell in March

Bond Market Parties On as Jobs Data Revive Fed Rate-Cut Bets

US employers scaled back hiring in April. How that could let the Fed cut interest rates

Czech central bank cuts a key interest rate again with inflation down and the economy on the mend

US labor market still tight; productivity falters in first quarter