Friday the 13th marked the official start of the Q3-2023 earnings season. While the consensus is for modest earnings and sales growth, there may be some surprises in store for investors. Street Expectations According…
Q3-2023 is expected to mark the end of the earnings recession for the past three quarters, opening the door to positive earnings growth. Whether that would be sustainable or will sputter once the recession settles in as expected in…
Results of the Banks of Canada’s Q3 business and consumer surveys reveal that the aggressive tightening cycle is dampening economic agents’ sentiment. Putting aside the sharp decline at the onset of the pandemic in Q2…
US financial conditions have tightened meaningfully in Q3. While the Goldman Sachs index remains below where it was a year ago, it crossed above the 100 line in late September into restrictive levels after spending most of the…
According to BCA Research’s European Investment Strategy service, the euro's correction is now advanced. During the first week of the month, EUR/USD briefly dipped below 1.045. Previously, the team argued it would…
On the surface, Chinese credit data sent a positive signal about the domestic economy. Chinese aggregate social financing totaled CNY 4.1 trillion in September – exceeding both August’s CNY 3.1 trillion and…
On the surface, the slower pace of contraction in Chinese exports in September is a positive signal for global trade. The 6.2% y/y drop in the dollar value of Chinese exports was not as bad as the 8% y/y decline anticipated or…
The preliminary release of the University of Michigan’s Consumer Sentiment survey delivered a negative surprise on Friday. A bigger-than-anticipated drop pushed the headline sentiment index down to a five-month low of 63.…
Back in May, our foreign exchange team suggested the risk to sterling was to the downside. Indeed, GBP/USD is down 8% from its recent peak. While dollar strength largely explains this move in GBP/USD, there have been other…
This week's Insight gauges the potential of a dollar breakout or breakdown and suggests a few trade ideas.