UK Publishes Great Repeal Bill

Britain published legislation on Thursday to sever political, financial and legal ties with the European Union, an important step towards Brexit but one which the opposition said it would challenge. The repeal bill is central to the government’s plan to exit the EU in 2019, disentangling Britain from more than 40 years of EU lawmaking […]

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Spain’s King Calls For Minimal Trade Barriers

Britain’s exit from the European Union is creating uncertainty for businesses and Brexit negotiations should seek to reduce this as well as minimising future trade barriers, Spain’s King Felipe said on Thursday. The British government, seeking to highlight confidence in the British economy, said Spanish companies had committed millions of pounds of investment to Britain […]

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USD/CAD: What’s The Post-BoC Trade? – Nomura

The Bank of Canada raised rates and also pushed forecasts and expectations higher. USD/CAD tanked. Can the C$ continue higher? Here is their view, courtesy of eFXnews: Nomura Research continues to look for another BoC rate hike by December after the central bank raised the target for the overnight rate by 25bp to 0.75% at its […]

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U.S. Weekly Jobless Claims Edge Down To 247,000

First-time claims for U.S. unemployment benefits saw a modest decrease in the week ended July 8th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims dipped to 247,000, a decrease of 3,000 from th…

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Canada: New Housing Price Index, May 2017

Toronto and Vancouver were largely responsible for a 0.7% monthly rise in new house prices in Canada in May. New Housing Price Index, monthly change Toronto was the largest contributor to the national gain, rising 1.1% from April to May. Builders linked higher prices to market conditions, a shortage of developed land and higher construction […]

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U.S. Jobless Claims Drop for First Time in a Month

The number of Americans filing for unemployment benefits fell last week for the first time in a month, the latest indication of labor market strength that is sustaining economic growth. Initial claims for state unemployment benefits dropped 3,000 to a seasonally adjusted 247,000 for the week ended July 8, the Labor Department said on Thursday. […]

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OPEC Cut Compliance Slips Below Non-OPEC

Global oil supply rose in June as compliance with an OPEC-led deal to freeze production showed signs that it was stalling, the International Energy Agency (IEA) noted in its latest market report on Thursday. The supply of oil rose by 720,000 barrels a day in June across the world and by 340,000 barrels a day […]

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Should the BoC Have Raised Interest Rates?

The Bank of Canada (BOC) may have taken a big gamble on its economy when adopting a new hawkish tone on Wednesday, according to one economic research company. The central bank raised interest rates to 0.75 percent from 0.50 percent – its first hike in seven years. Investors had prepared for such move but the […]

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