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EBC Daily Snapshot Apr 25, 2024

EBC Forex Snapshot 24 Apr 2024 The US dollar was slightly lower on Thursday on strengthening European currencies. US business activity cooled in April to a four-month low due to weaker demand, signalling a global economic confluence. The Canadian dollar rose along with oil prices. Standard Chartered estimates that global oil demand will pick strongly in May and June and the OPEC+ is unlikely to increase output in the near term. Retail sales decreased 0.1% in February, led by a drop in sales at gasoline stations and fuel vendors. Money markets are betting that the BOC will begin easing ahead of the Fed. EBC Wealth Management Expertise Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation byEBC Wealth Management Expertise or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-04-25 09:45:25 (GMT)

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