Baker Hughes rig count will be released at the top of the hour.

Oil rigs are expected to rise to 343 from 337 last week The price of WTI crude oil futures are currently down $0.22 or -0.35% at $63.27.

Russia is retaliating against US sanctions

Russia to expel US diplomats proportionally to US decision to expel Russian diplomats The US imposed sanctions on Russia yesterday including making it more difficult for them to take part in the global economy if it continued its disruptive actions including in cyberspace and in Ukraine. The US is blaming the countries intelligence agency for hacking operations that breached American

Fed's Kaplan speaks at virtual event at Texas A&M

Dallas Fed's Kaplan (non voting member) speaking at a virtual event at Texas A&M University

European shares end the day/week higher

German Dax makes new all time highs The German Dax broke higher today and in the process moved to a new all time high at 15473.83.  The price of the index had been waffling up and down over the last 8 trading days in a non-trending market before breaking higher and running to the upside. 

USDCAD reverses up run as the week comes to a close

Volatile up and down move in the USDCAD this week The USDCAD on Monday, opened and moved higher. That run, took the price back above a cluster of MAs near 1.2570 and up to a swing area at 1.2623 to 1.2628 (red numbered circles). The high extreme from March 30 reached 1.2646.  The high price also

Kaplan sees unemployment moving back toward 4% by the end of the year

Feds Kaplan is speaking  The Feds Kaplan is speaking a few times today including add a virtual climate change symposium and a bitcoin conference.  

NY Fed weekly GDP Nowcast estimate up to 6.8% from 6.1% last week

Moving back higher with US retail sales the catalyst The NY Fed GBP Nowcast is projecting growth of 6.8% for the first quarter which is up from 6.1% last week. The catalyst for the week was the better-than-expected retail sales. The retail sales and food services component added 0.65% to the bottom line estimate this week.  Other contributors included capacity utilization, industrial

Moderna to reduce vaccine deliveries to UK and Canada in April

That's not great news The UK is turning the corner on the virus but new cases in many parts of Canada are at records at the moment as variants rip through the population. Ontario will announce even-harsher lockdown measures later today.

Euro tries and fails at 1.20 again

EUR/USD touches 1.1995 The euro keeps on knocking but it can't get into the 1.20 range. It hit 1.1995 but has quickly faded back to 1.1975 into the London fix. Stops and offers are building up on both sides of the figure. It might take until next week but a run is coming and it could be

New week high for the GBPUSD

I still don't trust it, but buyers are making a play on the sharp run higher I have not been a big fan of the GBPUSD of late. It has had an overabundance of very volatile up and down price action (which is different than non-trending). It does not have a rhythm. Case in point, the price tumbled lower

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