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USD:

Buy:

1.3427

/

Sell:

1.3882

-0.01%


-0.01%


EUR:

Buy:

1.449

/

Sell:

1.5011

-0.02%


-0.02%


GBP:

Buy:

1.694

/

Sell:

1.7497

-0.01%


-0.01%


JPY:

Buy:

0.00871795

/

Sell:

0.00929315

-0.12%


-0.12%


Market Watch

Stock market rally enters in the fifth month

April 1st 2024


FX Forecast for March 2024: Rate cuts may be further delayed as inflation persists

April 1st 2024


Canada's inflation unexpectedly dropped.

Global equities are having a strong performance year-to-date, buoyed by acceptable economic growth and the prospect of lower interest rates in 2024 as inflation continues to decline worldwide. The US S&P 500 has surged by 9.74%, Canada's S&P/TSX Composite has gained 4.89%, and the Euro Stoxx 50 has climbed over 11% thus far in 2024. The boom in artificial intelligence has propelled equity markets to new highs, supported by inflation data indicating a general slowdown in price levels across most advanced economies. Despite US inflation slightly exceeding expectations at 3.2%, markets still anticipate three 0.25% rate cuts in 2024, as reaffirmed by the US Central Bank. Any uptick in inflation could further delay these rate cuts, which have already been postponed over the past two years. In Canada, inflation was reported at 2.8% year-over-year, surprising markets and fueling expectations that the Bank of Canada will initiate rate cuts sooner than the US. A major concern is the potential for rate cuts to drive up house prices in Canada, but the Governor of the Bank of Canada has emphasized that house prices are not their primary concern, and rate cuts will proceed as scheduled. Currently, in Canada, if mortgage costs are excluded from inflation calculations, the overall inflation rate would fall even lower than the Central Bank's 2% target.

March 29th 2024


FX forecast February 2024 - US dollar remains strong so as the US economy

USDCAD Q1 2024 Median: 1.35 High: 1.37 Low: 1.32 Forward: 1.35 The US dollar and equity market The first two months of 2024 have further affirmed that the US will not enter the anticipated economic recession, with additional economic data such as une

February 27th 2024

3 min to read


Tech companies are delivering on earnings.

North American stock markets fell on Tuesday as the fourth-quarter earnings season comes to an end, with Nvidia as the last giant name remaining to report, potentially pushing markets higher or disappointing on the AI hype. The S&P 500 and Nasdaq are

February 25th 2024

1 min to read


No Interest Rate Cuts Coming Soon

US stock markets continue to march higher, even after the latest inflation print showed that the path to reaching the inflation target could take longer than investors and officials had hoped for. The US S&P 500 and Nasdaq are up 5.41% and 5.92% in 2

February 17th 2024

1 min to read


Magnificent Seven Stocks March Higher

US stock markets extended their rally, gaining solid ground as the latest earnings reports from industry giants, including Amazon and Meta (Facebook), exceeded expectations. This positive turn catapulted these stocks to new heights. Year-to-date, the

February 7th 2024

1 min to read


S&P 500 tops 4900

The last week of January began with gains in both stocks and treasuries, with the S&P 500, a key benchmark for US stocks, surpassing the significant threshold of 4900. In 2024, the S&P 500 and Nasdaq have seen increases of 3.3% and 4%, respectively,

January 31st 2024

1 min to read


New Records for the US Stocks

The US stock market has reached a two-year high as equities see another round of gains, with the S&P 500 index, serving as the broad benchmark, surpassing 4,800 for the first time in two years. The S&P 500 is maintaining its December rally, registeri

January 22nd 2024

1 min to read


Market Direction Remains Uncertain

Market Direction Remains Uncertain As we step into the second week of 2024, stock markets continue to meander within a range, lacking a definitive trajectory for the year ahead. The S&P 500 and Nasdaq have experienced marginal declines of 0.34% and 1.29% year-to-date, respectively, while Canada's benchmark exhibits a slight positivity, courtesy of the energy sector. Current market sentiment suggests a speculation that significant US rate cuts may commence as early as March. However, according to Federal Reserve projections, the first rate cut is anticipated in June. Given the robust US economy, there is a possibility that this timeline could be further delayed. Recent economic experiences underscore the notion that events unfold more gradually than initially presumed. Even the presumed alleviation of concerns surrounding inflation may prove to be a more extended process, potentially deferring interest rate cuts. Moreover, there persists a prevailing belief that elevated inflation and interest rates might become the new normal in the foreseeable future. Factors such as heightened energy prices, a shifting role for China in the global economy, and the ongoing green transition contribute to the potential for sustained inflation. Investors appear to favor the US over other economies, including Canada. Following a lackluster performance of Canadian equity markets compared to the US in 2023, expectations loom for both stock markets and currencies to underperform in 2024.

January 11th 2024

1 min to read


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