Are you itching to travel but concerned about the high cost of airfare? Low-cost airlines are an increasingly popular option for travelers who want to see more of the world without breaking the bank. Let’s take a look at some of the best budget airlines for exploring Europe and Canada.
Yesterday was fairly quiet, with range-bound trading for both equities and FX markets, including the Canadian dollar, remaining relatively flat. However, today, stocks have turned lower after several smaller regional US banks, most notably First Republic, reported larger than expected deposit outflows (meaning more money is flowing out of the bank than into the bank), suggesting that stability risks have not entirely gone away. Additionally, market expectations for Google to report another drop in ad revenue and for Microsoft to indicate that their earnings growth likely slowed down last quarter are adding to the pessimistic outlook. Adding to the negative sentiment, US consumer confidence has hit a nine-month low.
The Canadian dollar was moderately lower again on Friday against the US dollar. The Canadian dollar is currently trading at 1.3548, its lowest level since April 10th. The Canadian dollar has lost about 1.2 percent versus the US dollar this week (at the time of writing).
A string of disappointing news has turned market sentiment negative this morning. Overnight, UK headline inflation data showed that inflation rose at an annual pace of 10.1% over the past month, suggesting that the Bank of England has some work to do in raising interest rates. Then, the Bank of Atlanta Regional Fed President commented that he would like to see rates above 5%. This morning, in what is scheduled to be another busy day for earnings, Morgan Stanley’s stock fell after it posted a decline in net revenue and income. Bank earnings will be reviewed closely for any signs of further turmoil after last month’s collapse of a few US regional banks and the sale of Credit Suisse to UBS.
Perhaps it’s the change in seasons, but there has been a growing sense of cautious optimism in the global equity markets over the past few weeks. Inflation appears to be easing, the US regional banking system has stabilized, and the extensive interest rate hikes by the Federal Reserve in the US and the Bank of Canada are approaching their terminal points or are currently on an extended pause.
On Thursday, the US dollar continued its recent decline against most major currencies, hitting a two-month low against the Canadian dollar. This followed a day of significant economic news on both sides of the border on Wednesday.
Wednesday is shaping up to be an important day for the US dollar / CAD dollar exchange rate pairing. The Bank of Canada is scheduled to announce its interest rate decision, while in the US, they will be releasing US inflation data, which is expected to weigh heavily on the Fed’s interest rate decision in May.
Sending money from Canada to Japan can be challenging due to the differences in the banking systems between the two countries. There are some key differences in the banking systems in Japan and Canada that can impact the process of sending money between the two countries.
Additionally, some Japanese banks may not accept foreign currencies or international wire transfers, which can limit the options for sending money.
Below is a step by step description of how you can send money electronically from Canada to a bank account in Japan.
The latest monthly Reuters poll of currency analysts indicates that they expect the Canadian dollar to weaken by a full penny or to 1.35 per United States dollar in the next three months but to rebound and reach 1.30 per US dollar in a year’s time. The big underlying assumption is that there are no further global economic shocks, and the Canadian economy experiences a ‘soft landing.’ A soft landing refers to a situation where an economy moves from a period of high growth to a period of slower growth or stability without experiencing a severe recession or economic downturn.
Over the last week, the Canadian dollar has gone from 1.38 against the USD to its current rate of 1.3443. This is the largest one-week gain for the Loonie (CAD) since November. What is causing the Canadian dollar to strengthen against its US counterpart?
Yes, some of the gains made by the Canadian dollar have to do with general US dollar weakness, and the move away from safe-haven assets after what appears to be the end of the banking crisis. The Canadian dollar has also benefited from higher oil prices. But in our opinion, what’s really powering the rise of the Canadian dollar against the US dollar is a complete 180-degree turn in interest rate expectations by the Fed and, more importantly, the Bank of Canada.
