European equity close: Stock markets shake off the blues
Closing changes for the main European bourses:
It was a mixed picture but it was a much nicer one than a few hours ago. The DAX had been down as much as 2.2% before finishing higher. That's an impressive turnaround.
EURGBP moves back to 50% midpoint of the April/May range
50% midpoint at 0.8595
The EURGBP has moved lower in the last hour or so of trading after a move higher earlier in the day. The move lower has returned to the 50% midpoint of the April/May trading range at 0.85952.
BOC's Macklem: QE can widen wealth inequality by increasing asset values
Comments from the BOC governor:
The topic was on addressing an inclusive economy so these comments are about what you would expect. It's a bit rich though given the size of Canada's QE in the past year. Perhaps though it's a small sign that Macklem will taper rapidly.
Bank of Canada governor to speak at the top of the hour
BOC Governor Tiff Macklem will speak at 11 am ET. I don't expect any market moving headlines in the speech, which on the 'benefits of an inclusive economy' and isn't embargoed.
USDCAD stays above the 100 hour MA. Still has work to do if buyers to take control
Risk defined by the 100 hour MA at 1.2118
The USDCAD moved above its 100 hour moving average for the first time since May 5 into the close yesterday, and although there was eight dip back below in the Asian session for a couple hours, the price rebounded back above and has been able to stay above for the last 11 or
A wide road for buyers and sellers
The GBPUSD trended higher rapidly on Friday and again on Monday on the back of a weak jobs report in the US and rotations in Scotland would not have a referendum soon. When the price rises so quickly - with little in the way of corrections - the spread between the 100 and 200 hour MAs can stay
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