The models are broken
The market is trying to get back to the pre-Covid and pre-war times, but that model is broken. A new dawn is here and the financial world needs to adapt.
Steen Jakobsen,
Chief Investment Officer
FX Trader, Loonieviews.net
Summary: New York opened with a bounce, although volatility remains elevated in the wake of Wednesday's equities plunge. In forex, we are watching USDCAD detach from WTI prices on the decline in WCS Canadian crude.