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Published on Wealth Professional Canada July 29, 2020
“A lot of people are asking why this is happening and the best answer I can give is the dollar smile theory,” says Sean Coakley, market strategist at Cambridge Global Payments. “The theory goes that the U.S. dollar finds its favour in a cyclical fashion. When we see sell-offs in risk assets like the S&P 500 we see a jump in the U.S. dollar relative to CAD. But the US dollar tends to underperform at the very point in an economic cycle where the economy is set to recover.”
Published on Reuters July 23, 2020
“This morning’s snapback in jobless claims helped reinforce the perception that U.S. growth is set to slip relative to the euro area and other major economies, and traders are setting up for a wider-than-previously-expected divergence between U.S. and European PMIs tomorrow,” said Karl Schamotta, chief market strategist at Cambridge Global Payments in Toronto.
Published on FXCintelligence July 23, 2020
Cambridge Global Payments, a leading B2B player, was acquired by the US public company Fleetcor in 2017 for c.$675m. Since then, the business has received little coverage but has quietly grown and significantly increased its profitability. FXCintelligence goes inside Cambridge with President Mark Frey to bring you up to date.
Published on CBC July 16, 2020
“Over the past few weeks, numbers of new COVID-19 cases have continued to rise and now stand positioned to threaten state reopening efforts across the entire southern Sunbelt region,” Matthew Eidinger at Cambridge Global Payments said.
Published on BNN July 16, 2020
The Bank of Canada is keeping its key interest rate unchanged at 0.25 per cent. and says that the economy will take two years to fully recover. Karl Schamotta, chief market strategist at Cambridge Global Payments joins BNN Bloomberg to react to the BoC’s latest rate decision and commentary.
Published on Reuters July 14, 2020
“Market consensus has shifted towards the euro on the assumption that euro area will suffer less economic damage and that a large rescue package will be approved,” said Karl Schamotta, chief market strategist at Cambridge Global Payments.