Japanese Yen Retreats Against USD Amid Some Repositioning Ahead of Us Nfp

Forex

Economic

Summary:

The Japanese Yen (JPY) prolongs its uptrend for the fourth successive day and advances to a nearly two-month high against its American counterpart during the Asian session on Friday.

The Japanese Yen touched a nearly two-month high against the US Dollar on Friday.

Repositioning ahead of the US NFP triggers intraday short covering around USD/JPY.

The narrowing US-Japan rate differential should limit losses for the lower-yielding JPY.

The Japanese Yen (JPY) prolongs its uptrend for the fourth successive day and advances to a nearly two-month high against its American counterpart during the Asian session on Friday. The recent hawkish signals from the Bank of Japan (BoJ) lift market bets on further interest rate hikes. The resultant narrowing of the rate differential between the BoJ and other major central banks, including the Federal Reserve (Fed), turns out to be a key factor that continues to underpin the lower-yielding JPY.

Apart from this, the recent US Dollar (USD) sharp pullback from the vicinity of over a two-year high drags the USD/JPY pair below the 151.00 mark for the first time since December 10. That said, the uncertainty over US President Donald Trump's tariff policies keeps a lid on any further gains for the JPY. Furthermore, traders now seem reluctant and opt to move to the sidelines ahead of the US Nonfarm Payrolls (NFP) report, which assists the currency pair to rebound around 70 pips from the daily low.

Japanese Yen bulls have the upper hand amid rising bets on more BoJ rate hikes

Kazuhiro Masaki, Director General of the Bank of Japan's monetary affairs department, said on Thursday that the central bank will continue to raise interest rates if underlying inflation accelerates toward its 2% target as projected.

Japan's Economy Minister Ryosei Akazawa told the parliament that the government's focus would be to eradicate a deflationary mindset with a goal to boost minimum wages and take measures to encourage firms to raise wages.

This comes on top of the hawkish BoJ Summary of Opinions released on Monday, which showed that policymakers discussed the likelihood of raising interest rates further at the January meeting and continued to boost the Japanese Yen.

Adding to this, data released this week showed that Japan’s inflation-adjusted real wages rose 0.6% year-on-year in December, marking the second consecutive monthly gain and backing the case for further tightening by the BoJ.

The yield on Japan’s 10-year government bond remains near a 14-year high, while the benchmark 10-year US Treasury yield hangs near its lowest level since December amid expectations that the Federal Reserve would stick to its easing bias.

US Treasury Secretary Scott Bessent said on Thursday that President Donald Trump's administration was not particularly concerned about the Fed's trajectory on interest rates and that the focus is on bringing down 10-year Treasury yields.

Chicago Fed President Austan Goolsbee noted that the appearance that inflation has stalled is largely due to base effects and that the central bank needs to be mindful of overheating and deterioration, but things are largely going well.

Separately, Dallas Fed President Lorie Logan said that inflation progress has been significant, but the US labor market remains far too firm to push the central bank into rate cuts any time soon. This, however, does little to impress the US Dollar bulls.

That said, traders opt to lighten their bets and move to the sidelines ahead of the release of the US Nonfarm Payrolls (NFP) report, prompting an aggressive intraday short-covering move around the USD/JPY pair on Friday.

USD/JPY is likely to attract fresh sellers at higher levels amid a bearish technical setup

From a technical perspective, this week's breakdown below the 152.50-152.45 confluence – comprising the 100- and the 200-day Simple Moving Averages (SMAs) was seen as a key trigger for bearish traders. Moreover, oscillators on the daily chart are holding deep in negative territory and are still away from being in the oversold zone. This, in turn, suggests that the path of least resistance for the USD/JPY pair remains to the downside. Hence, any subsequent move up could be seen as a selling opportunity and remain capped near the 152.00 mark. Some follow-through buying, however, could lift spot prices further toward the next relevant hurdle near the 152.50-152.45 support-turned-resistance en route to the 153.00 round figure.

On the flip side, the 151.00 mark now seems to have emerged as an immediate support. A sustained break and acceptance below the said handle could drag the USD/JPY pair further towards 150.55-150.50 support. The downward trajectory could extend further towards the 150.00 psychological mark, below which spot prices could slide to the 149.60 horizontal support before aiming to test the 149.00 mark and the December swing low, around the 148.65 region.

Source: FXSTREET

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Owen Li

Forex

The Indian Rupee flatlines in Friday’s Asian session.

Rising RBI rate cut bets, weakness of Asian peers and uncertainties could undermine the INR.

RBI's interest rate decision will be closely watched on Friday.

The Indian Rupee (INR) holds steady after falling to a fresh all-time low in the previous session. The local currency remains vulnerable amid expectations of a rate cut by the Reserve Bank of India (RBI). Furthermore, a broader decline among Asian currencies, the uncertainties surrounding US trade tariffs and continued portfolio outflows might undermine the INR.

Nonetheless, the routine intervention by the RBI to sell US Dollar via state-run banks might help limit the INR’s losses. The RBI interest rate decision on Friday will be in the spotlight. Investors will also scrutinize the statement from the new RBI Governor Sanjay Malhotra to assess the direction of the central bank’s monetary policy. The attention will shift to the US labour market data later in the day, including Nonfarm Payrolls (NFP), Unemployment Rate and Average Hourly Earnings.

Indian Rupee steadies ahead of RBI rate decision

The RBI is expected to cut the interest rate by 25 basis points (bps) to 6.25% at the policy meeting concluding on Friday, in what would be its first rate cut in nearly five years.

“The delay in implementation of universal tariffs by the incoming U.S. administration provides some tactical space for RBI to prioritize domestic growth... and space to cut policy rates,” said Ruhul Bajoria, an economist at Bank of America in India.

Most of the economists surveyed by Bloomberg anticipate that the Indian central bank will lower the benchmark repurchase rate by at least 25 basis points (bps) to 6.25% on Friday.

Chicago Fed President Austan Goolsbee noted on Thursday that the uncertainty makes the environment for the Fed foggier, a reason to slow the pace of cuts.

Dallas Fed President Lorie Logan said that while inflation progress has been significant, the US labor market remains far too firm to push the Fed into rate cuts any time soon.

USD/INR paints a positive picture, overbought RSI warrants caution for bulls in the short term

The Indian Rupee trades on a flat note on the day. The constructive outlook of the USD/INR pair remains intact as the price holds above the key 100-day Exponential Moving Average (EMA) on the daily chart. However, the 14-day Relative Strength Index (RSI) reaches overbought territory beyond the 70.00 mark, potentially signaling a temporary weakness or further consolidation in the near term.

The immediate resistance level for USD/INR emerges at 87.62, an all-time high. Sustained trading above this level could pave the way to the 88.00 psychological level.

On the downside, the initial support level for the pair is located in the 87.05-87.00 zone, representing the low of February 5 and the round mark. A breach of the mentioned level could drag USD/INR down to 86.51, the low of February 3.

Source: FXSTREET

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Owen Li

Economic

Commodity

Silver price holds ground near its three-month high of $32.56, recorded on February 5.

The upside of the Silver appears limited as the US Dollar gains ground amid rebounding US Treasury yields.

Traders await US Nonfarm Payrolls to gain fresh impetus regarding the Fed’s monetary policy direction.

Silver price (XAG/USD) remains in positive territory for the fifth consecutive session, trading around $32.30 per troy ounce during Asian hours on Friday. The precious metal maintains its position near its three-month high of $32.56, recorded on February 5. Traders are awaiting key US labor market data, including Nonfarm Payrolls (NFP), which could influence the Federal Reserve’s (Fed) monetary policy direction.

However, Silver's upside appears limited as the US Dollar (USD) extends its recovery amid rebounding US Treasury yields. The US Dollar Index (DXY), which tracks the USD against six major currencies, has climbed near 107.70, while 2-year and 10-year US Treasury yields stand at 4.22% and 4.43%, respectively, at the time of writing.

Safe-haven metals like Silver have gained ground amid heightened risk aversion due to global trade and economic uncertainties. However, trade negotiations between the United States (US) and China could temper this sentiment. US President Donald Trump and Chinese President Xi Jinping are set to discuss potential tariff rollbacks, which could ease market concerns and limit Silver’s upside.

Diminished fears of a US-China trade war also reduce the risk of rising US inflation, reinforcing expectations of two Federal Reserve rate cuts this year. As a non-yielding asset, Silver benefits from a dovish stance by major central banks.

Meanwhile, the Reserve Bank of India (RBI) is expected to announce a 25-basis-point rate cut on Friday. Last week, the European Central Bank (ECB) lowered its Deposit Facility Rate by 25 basis points to 2.75%, while the People’s Bank of China (PBoC) has signaled potential rate cuts. Additionally, the Bank of Canada (BoC) has paused its quantitative tightening, and Sweden’s Riksbank has cut interest rates.

Source: FXSTREET

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Glendon

Economic

Free cash flow (FCF) is one of the most important financial metrics for investors, analysts, and business owners. It measures the cash a company generates after accounting for capital expenditures, such as buildings, equipment, and other long-term investments. FCF provides insight into a company's financial health, its ability to pay dividends, reduce debt, or reinvest in growth opportunities. In this article, we’ll break down how to calculate free cash flow, its significance, and practical examples to help you master this essential financial tool.

What is Free Cash Flow?

Free cash flow represents the cash a company has left over after covering its operating expenses and capital expenditures. It’s a measure of financial flexibility and efficiency, showing how well a company can generate cash from its core operations. Positive free cash flow indicates that a company has surplus cash to invest in growth, pay dividends, or reduce debt. Conversely, negative free cash flow may signal financial strain or heavy investment in future growth.

Why is Free Cash Flow Important?

Evaluating Financial Health: FCF helps investors assess whether a company can sustain its operations without relying on external financing.

Valuation: Analysts use FCF to estimate a company’s intrinsic value through discounted cash flow (DCF) analysis.

Dividend Payments: Companies with strong FCF are more likely to pay consistent dividends.

Debt Management: FCF can be used to pay down debt, reducing financial risk.

Growth Opportunities: Excess FCF can fund acquisitions, research and development, or other strategic initiatives.

How to Calculate Free Cash Flow

There are two primary formulas to calculate free cash flow:

Formula 1: Using Operating Cash Flow

The most common method to calculate FCF is by using operating cash flow (OCF) and subtracting capital expenditures (CapEx).

Free Cash Flow (FCF) = Operating Cash Flow (OCF) - Capital Expenditures (CapEx)

Operating Cash Flow (OCF): This is the cash generated from a company’s core business operations. It can be found on the cash flow statement.

Capital Expenditures (CapEx): These are investments in long-term assets like property, plant, and equipment (PP&E). CapEx is also listed on the cash flow statement.

Formula 2: Using Net Income

Alternatively, you can calculate FCF using net income, adjusting for non-cash expenses and changes in working capital.

Free Cash Flow (FCF) = Net Income + Depreciation/Amortization - Changes in Working Capital - Capital Expenditures (CapEx)

Net Income: Found on the income statement.

Depreciation/Amortization: Non-cash expenses added back to net income.

Changes in Working Capital: Reflects changes in current assets and liabilities.

Step-by-Step Example

Let’s walk through an example to illustrate how to calculate free cash flow.

Company XYZ Financials (in millions):

Operating Cash Flow (OCF): $500

Capital Expenditures (CapEx): $200

Net Income: $400

Depreciation/Amortization: $50

Changes in Working Capital: $30

Using Formula 1:FCF = OCF - CapExFCF = 500−500−200 = $300 million

Using Formula 2:FCF = Net Income + Depreciation/Amortization - Changes in Working Capital - CapExFCF = 400+400+50 - 30−30−200 = $220 million

Note: The two formulas may yield slightly different results due to variations in accounting practices.

Tips for Accurate Free Cash Flow Analysis

Use Consistent Data: Ensure all figures are from the same reporting period.

Adjust for One-Time Items: Exclude non-recurring expenses or income to get a clearer picture of ongoing operations.

Compare Across Peers: Benchmark a company’s FCF against industry peers for context.

Monitor Trends: Analyze FCF over multiple periods to identify growth or decline patterns.

Consider Quality of Earnings: High FCF with low earnings quality may indicate aggressive accounting practices.

Limitations of Free Cash Flow

While FCF is a powerful metric, it has limitations:

It doesn’t account for future obligations like debt repayments.

It may not reflect short-term liquidity challenges.

Companies in growth phases may have negative FCF due to heavy investments.

Conclusion

Free cash flow is a vital metric for assessing a company’s financial performance and flexibility. By understanding how to calculate FCF and interpret its implications, investors and analysts can make more informed decisions. Whether you’re evaluating a potential investment or managing a business, mastering free cash flow analysis is a valuable skill.

Remember, FCF is just one piece of the puzzle. Combine it with other financial metrics and qualitative factors for a comprehensive evaluation of a company’s prospects.

To stay updated on all economic events of today, please check out our Economic calendar

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Glendon

Economic

Choosing the right brokerage is a critical decision for investors. Two of the most popular options are Charles Schwab and Fidelity. Both are industry giants, offering a wide range of services, tools, and investment options. But which one is the better choice for you? In this article, we’ll compare Charles Schwab and Fidelity across key categories, including fees, investment options, tools, customer service, and more, to help you make an informed decision.

Overview of Charles Schwab and Fidelity

Charles Schwab

Founded in 1971, Charles Schwab is known for its low-cost investment options, robust trading platforms, and excellent customer service. It offers a wide range of products, including stocks, ETFs, mutual funds, options, and retirement accounts. Schwab is also a pioneer in commission-free trading and provides extensive educational resources for investors.

Fidelity

Established in 1946, Fidelity is one of the largest and most trusted brokerages in the world. It offers a comprehensive suite of investment products, including stocks, ETFs, mutual funds, bonds, and retirement accounts. Fidelity is renowned for its research tools, low fees, and strong customer support.

Key Comparison Categories

1. Fees and Commissions

Both Charles Schwab and Fidelity have eliminated commissions for online stock, ETF, and options trades, making them highly competitive in terms of fees.

Charles Schwab:

$0 commissions for online stock, ETF, and options trades.

No account fees or minimums for most accounts.

Low expense ratios for Schwab ETFs and mutual funds.

Fidelity:

$0 commissions for online stock, ETF, and options trades.

No account fees or minimums for most accounts.

Offers zero-expense-ratio index funds (e.g., Fidelity ZERO funds).

Winner: Tie. Both brokerages offer commission-free trading and low fees.

2. Investment Options

Both platforms provide a wide range of investment options, but there are some differences.

Charles Schwab:

Stocks, ETFs, mutual funds, options, futures, and bonds.

Access to international markets and forex trading.

Schwab ETFs and mutual funds are highly rated for low costs.

Fidelity:

Stocks, ETFs, mutual funds, options, bonds, and CDs.

Extensive mutual fund selection, including actively managed funds.

Offers fractional shares for stocks and ETFs.

Winner: Fidelity, for its fractional shares and broader mutual fund selection.

3. Trading Platforms and Tools

Both brokerages offer advanced trading platforms and tools, but they cater to different types of investors.

Charles Schwab:

StreetSmart Edge: A powerful desktop platform for active traders.

Mobile app with intuitive design and robust features.

Extensive research and educational resources.

Fidelity:

Active Trader Pro: A comprehensive platform for advanced traders.

Mobile app with excellent usability and features like fractional trading.

Strong research tools, including stock screeners and analyst reports.

Winner: Tie. Both platforms are excellent, but the choice depends on your trading style.

4. Customer Service

Customer service is a critical factor when choosing a brokerage.

Charles Schwab:

24/7 customer support via phone, chat, and email.

In-person support at Schwab branches.

Highly rated for responsiveness and expertise.

Fidelity:

24/7 customer support via phone, chat, and email.

In-person support at Fidelity investor centers.

Known for its knowledgeable and friendly representatives.

Winner: Tie. Both brokerages offer exceptional customer service.

5. Educational Resources

Education is essential for both new and experienced investors.

Charles Schwab:

Schwab Learning Center: Offers articles, videos, and webinars.

Personalized coaching and financial planning services.

Fidelity:

Fidelity Learning Center: Provides articles, videos, and courses.

Extensive research and market insights.

Winner: Tie. Both platforms offer high-quality educational resources.

6. Retirement Accounts

Both brokerages are excellent choices for retirement planning.

Charles Schwab:

Offers IRAs, Roth IRAs, and rollover IRAs.

No account fees or minimums for retirement accounts.

Fidelity:

Offers IRAs, Roth IRAs, rollover IRAs, and SEP IRAs.

No account fees or minimums for retirement accounts.

Winner: Tie. Both are strong contenders for retirement planning.

Who Should Choose Charles Schwab?

Investors who prefer low-cost ETFs and mutual funds.

Active traders who need a powerful desktop platform.

Those who value in-person support at Schwab branches.

Who Should Choose Fidelity?

Investors interested in fractional shares and a broader mutual fund selection.

Beginners who want access to zero-expense-ratio index funds.

Those who prioritize advanced research tools and market insights.

Final Verdict

Both Charles Schwab and Fidelity are top-tier brokerages with low fees, robust tools, and excellent customer service. Your choice ultimately depends on your specific needs and preferences.

Choose Charles Schwab

if you’re focused on low-cost ETFs, active trading, and in-person support.

Choose Fidelity

if you want fractional shares, zero-expense-ratio funds, and advanced research tools.

Regardless of your choice, both platforms provide the tools and resources you need to succeed as an investor.

To stay updated on all economic events of today, please check out our Economic calendar

Risk Warnings and Disclaimers

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Glendon

Economic

Gross Domestic Product (GDP) is one of the most widely used indicators of a country’s economic performance. It measures the total value of goods and services produced within a nation’s borders over a specific period. However, economists often switch between GDP and Real GDP when analyzing economic trends. But what’s the difference between the two, and why does it matter? In this article, we’ll explore the distinctions between Real GDP and GDP, when to use each, and why economists make the switch.

What is GDP?

GDP, or nominal GDP, represents the total monetary value of all goods and services produced in a country during a specific period, typically a quarter or a year. It is calculated using current market prices, which means it includes the effects of inflation or deflation.

Formula for GDP:GDP = Consumption + Investment + Government Spending + (Exports - Imports)

While GDP provides a snapshot of economic activity, it has a significant limitation: it doesn’t account for changes in price levels. This is where Real GDP comes into play.

What is Real GDP?

Real GDP adjusts nominal GDP for inflation or deflation, providing a more accurate measure of economic growth over time. By using constant prices from a base year, Real GDP removes the distortion caused by price changes, allowing economists to compare economic output across different periods more effectively.

Formula for Real GDP:Real GDP = (Nominal GDP / GDP Deflator) x 100

The GDP deflator is a measure of price inflation or deflation relative to the base year.

Key Differences Between GDP and Real GDP

Aspect	GDP (Nominal GDP)	Real GDP
Price Adjustment	Uses current market prices	Uses constant base-year prices
Inflation Impact	Includes inflation/deflation	Excludes inflation/deflation
Purpose	Measures current economic output	Measures economic growth over time
Accuracy	Less accurate for long-term analysis	More accurate for long-term analysis

Why Do Economists Switch Between GDP and Real GDP?

Economists use both GDP and Real GDP depending on the context and the type of analysis they are conducting. Here’s why:

1. Assessing Economic Growth

Real GDP is the preferred metric for measuring economic growth because it eliminates the effects of inflation. For example, if nominal GDP increases by 5% but inflation is 3%, the real economic growth is only 2%. Real GDP provides a clearer picture of whether an economy is genuinely expanding or if the growth is just a result of rising prices.

2. Comparing Economies Over Time

When comparing economic performance across different years, Real GDP is essential. Nominal GDP can be misleading because it doesn’t account for changes in purchasing power. For instance, a country with high inflation might show rising nominal GDP, but its citizens might not actually be better off.

3. Policy Making and Planning

Governments and central banks rely on Real GDP to design economic policies. For example, if Real GDP growth is slowing, policymakers might implement stimulus measures to boost the economy. Nominal GDP, on the other hand, is more useful for understanding the current size of the economy and tax revenues.

4. International Comparisons

When comparing the economic performance of different countries, Real GDP is often used because it accounts for differences in price levels and inflation rates. This ensures a fair comparison of living standards and productivity.

When to Use GDP vs. Real GDP

Use GDP (Nominal GDP):

To measure the current size of an economy.

To calculate per capita income in current dollars.

To analyze short-term economic trends without adjusting for inflation.

Use Real GDP:

To measure long-term economic growth.

To compare economic performance across different time periods.

To assess the impact of inflation on economic output.

Practical Example

Let’s consider an example to illustrate the difference between GDP and Real GDP.

Country A’s Economic Data:

Nominal GDP in 2022: $1,000 billion

Nominal GDP in 2023: $1,100 billion

Inflation Rate: 4%

Calculating Real GDP for 2023:Real GDP = (Nominal GDP / (1 + Inflation Rate))Real GDP = 1,100/1.04=1,100billion/1.04=1,057.7 billion

While nominal GDP suggests a 10% growth (1,000 billion to 1,100 billion), Real GDP reveals that the actual economic growth, after adjusting for inflation, is only 5.77%.

Limitations of GDP and Real GDP

While both metrics are valuable, they have limitations:

GDP: Doesn’t account for income inequality, environmental degradation, or non-market activities like unpaid work.

Real GDP: Relies on accurate inflation data, which can be challenging to measure.

Conclusion

Understanding the difference between GDP and Real GDP is crucial for accurate economic analysis. While GDP provides a snapshot of current economic activity, Real GDP offers a clearer picture of long-term growth by adjusting for inflation. Economists switch between the two depending on the context, ensuring they have the right tool for the job.

Whether you’re a policymaker, investor, or student of economics, mastering these concepts will help you make better-informed decisions and gain deeper insights into the health and trajectory of an economy.

To stay updated on all economic events of today, please check out our Economic calendar

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Warren Takunda

Economic

"We still harbour doubts about a continuation of the recent CAD rally," says John Velis, Americas Macro Strategist at Bank of New York (BNY).

The observation follows a spike in the Dollar-Canadian Dollar exchange rate (USDCAD) on Monday to 1.4793 and associated spikes in non-USD/CAD exchange rates.

BNY thinks Canada is caught in tariff limbo, negatively impacting investor sentiment.

"Currency volatility is extraordinary and CAD's carry-to-volatility return since the beginning of the year is among the worst of the 30 or so currencies we characterise as the set of 'expanded majors,' ranking fifth worst. Not that the Canadian dollar is a strong carry currency, but the risk-reward of trying to trade Canada since January 1 is highly unattractive presently," explains Vallis.

The Canadian Dollar has recovered from the worst excesses of Monday's selloff to USD/CAD 1.4346, with GBP/CAD paring to 1.79 and EUR/CAD to 1.49.

The relief buying follows the last-minute avoidance of U.S.-Canada trade tariffs that were due to come into effect this week, sparking the start of a North American trade war.

Trump and Trudeau agreed to suspect the tariffs to allow negotiators to work towards a new trade deal, with feedback expected at the beginning of March.

"From a fundamental perspective, it still seems too early for long-term investors to aggressively buy the CAD as trade tensions might get worse before they get better. However, given depressed sentiment and stretched positioning, starting to build small long positions offers an attractive reward-to-risk ratio," says Chester Ntonifor, Foreign Exchange Strategist at BCA Research.

However, BNY thinks the Canadian Dollar is also at risk of dislocation in its relationship with two-year bond yields.

The bank's research shows a "remarkable" correlation between USD/CAD and the differential between U.S. and Canadian two-year yields.

"We think this correlation will reassert itself soon, considering the 2y yields reflect relative monetary policy expectations. The Bank of Canada is still quite likely to be more aggressive on rates owing to differing local macroeconomic fundamentals," warns Vallis.

Canadian Dollar Strength Draws Doubters_1

Image courtesy of BNY.

The implication is that CAD weakness will extend even as trade relations normalise.

Analysts at Goldman Sachs previously estimated that the Canadian Dollar could weaken by around 13% to a permanent 25% across-the-board tariff if the currency followed the typical response to a change in the Terms of Trade.

A lower initial tariff on energy products, which account for around a quarter of Canada’s exports to the US, lowers that estimate slightly, but given the uncertainties at play Goldman still thinks that is theright ballpark as a theoretical final resting place.

Analysts at the Wall Street bank are also watching yield differentials, noting that in the first trade war, USD/CAD would regularly trade at a 4-5% premium to rate differentials, but lately that has hovered around 1-2%.

"Taken together, we think USD/CAD will likely move about 3-5% higher from Friday’s close in the comingdays, assuming no significant progress in the ongoing negotiations," says Goldman Sachs.

Source: Poundsterlinglive

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Japanese Yen Retreats Against USD Amid Some Repositioning Ahead of Us Nfp

Source: FXSTREET

USD/INR Holds Steady as Traders Brace for Rbi Rate Decision

Source: FXSTREET

Silver Price Forecast: XAG/USD Remains Steady Near $32.50, Three-month Highs

Source: FXSTREET

How to Calculate Free Cash Flow: A Comprehensive Guide for Investors and Analysts

What is Free Cash Flow?

Why is Free Cash Flow Important?

How to Calculate Free Cash Flow

Formula 1: Using Operating Cash Flow

Formula 2: Using Net Income

Step-by-Step Example

Tips for Accurate Free Cash Flow Analysis

Limitations of Free Cash Flow

Conclusion

Charles Schwab vs. Fidelity: Which Brokerage is Right for You?

Overview of Charles Schwab and Fidelity

Charles Schwab

Fidelity

Key Comparison Categories

1. Fees and Commissions

2. Investment Options

3. Trading Platforms and Tools

4. Customer Service

5. Educational Resources

6. Retirement Accounts

Who Should Choose Charles Schwab?

Who Should Choose Fidelity?

Final Verdict

Choose Charles Schwab

Choose Fidelity

Real GDP vs. GDP: When and Why Economists Make the Switch

What is GDP?

What is Real GDP?

Key Differences Between GDP and Real GDP

Why Do Economists Switch Between GDP and Real GDP?

1. Assessing Economic Growth

2. Comparing Economies Over Time

3. Policy Making and Planning

4. International Comparisons

When to Use GDP vs. Real GDP

Practical Example

Limitations of GDP and Real GDP

Conclusion

Canadian Dollar Strength Draws Doubters

Image courtesy of BNY.

Source: Poundsterlinglive

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