The market reminds me of the conflict in Ukraine right now, just a slow grind down in which the Nasdaq continues to lead the decliners after losing more than a third of its value last year. Take the Jobs market. Yesterday the ADP Jobs report showed the economy created 235,000 jobs in December, far above expectations for 145,000 positions. Read More...
Reuters
Canadian dollar to rebound in 2023 if economic uncertainty clears: Reuters poll
Canada’s dollar will rally this year, but much of the upswing will have to wait until a period of uncertainty passes for the domestic and global economies following aggressive tightening by central banks in 2022, a Reuters poll forecast. The loonie will edge 0.6% higher to 1.35 per U.S. dollar, or 74.07 U.S. cents, in three months, according to the median forecast of currency analysts. “We expect to see some mild CAD weakness in the first half of 2023 … as last year’s rate hikes work their way through the economy and lead to a mild recession,” said George Davis, chief technical strategist at RBC Capital Markets.
