A look at Monday morning’s market action
“The U.S, 2 and 10-year yields ticked higher in Asia – whereas the yields had fallen on Friday on the back of softer-than-expected PCE and core PCE figures from the U.S.”by about 1.16 million barrels a day. Crude prices jumped on the decision. Markets had widely expected OPEC+ to hold steady on production.’s business outlook and consumer expectations surveys just after the start of trading. The reports come ahead of the next BoC rate decision on April 12.
U.S. jobless numbers for March will be released on Friday. Canadian and U.S. markets have a four-day trading week with exchanges closed on Good Friday. The White House was quick to criticize the move by OPEC+ amid concerns about consumer prices and inflationary pressures. In other commodities, spot gold was down 0.6 per cent at US$1,956.89 per ounce early Monday morning, its lowest in nearly a week. U.S. gold futures shed 0.7 per cent to US$1,971.30.The Canadian dollar was higher, helped by rising crude prices, while its U.S. counterpart firmed against a group of currencies as inflation concerns raised questions about the Federal Reserve’s next move.
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