Technical Support / Resistance:
Key Economic Data Releases:
- U.S. Retail sales 0.8% (0.5% exp.) -0.1% previous
- U.S. Initial jobless claims 216k (212k exp.) 214k previous
| ||Retail sales|
U.S. stocks opened lower as California utilities continued to reel from the wildfires that have swept the state. The pound plunged the most since June 2017 as the Brexit process again threw the U.K. government into chaos. West Texas crude extended Wednesday's rebound from a record losing streak. Treasuries gained. For all the worries assailing investors -- on top of Brexit is the ongoing trade dispute and Italian budget stress -- they are at least receiving a steady message from the U.S. central bank. In a question-andanswer session late Wednesday, Powell played down recent turbulence in equities, saying volatility was only one of many factors that the Fed takes into account. Currently, the TSX and the DJIA are down 0.09% and 0.31% respectively. EURCAD is down 0.20% trading between 1.4905 and 1.5005. GBPCAD is up 1.46% trading between 1.6877 and 1.7227. JPY is unchanged trading between 0.01163 and 0.01169. Gold is up 0.35% trading between $1,208 and $1,216USD/oz., silver is up 0.22% trading between $14.09 and $14.24USD/oz., while oil is up 0.70% trading between $55.62 and $56.72.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group