PeterHannCFA
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PeterHannCFA
Capital Markets Trader/Analyst with over 25 years’ experience managing Foreign Exchange, Interest Rate and Commodities risk. Notable roles included 8 years at the Bank of Canada managing Canada's foreign exchange reserves and 10 years as Director of Forex Trading at Alberta's ATB Financial, a provincial crown bank. B.Comm/MSc, CFA X=@PeterRHann1
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51%Best ROI
#USD/CAD stuck ahead of BOC tomorrow. Market is apparently expecting a dovish slant but topside USD offers at 1.3600 containing things for now.
My bias is to sell USD here but some odd moves in other markets making me cautious.
last week was all about Nvidia earnings. The trend was your friend as they beat earnings again and went up15% the next day. The oft reported soundbites that its market cap is now worth more than Canada's GDP gives some food for thought. The last time I heard hype headlines like that was when Tesla market cap exceed ed the value of all other auto firms combined. And then what happened? Telsa share price has struggled despite higher production.
Add in the fact that Jeff Bezos sold $10 billion of Amazon stock, and Jamie Dimon unloaded $150mm of JP Morgan, and others, and you start to wonder when the shoe will drop. There are persistent internet theories that NVidia is buying its own inventory through subsidiaries, and other firms amassing inventory that may not reflect actual chip demand. Very murky.
This week, attention is on Thursdays release of PCE price data. This is supposedly the metric the FED actually care about. Also, Thursday is month end.
So it may be quiet ahead of that.
C
