April 30, 2012

    Market Comment: April 30

    By / April 30, 2012

    Good morning, The Canadian dollar has lost half-a-cent against the greenback following today’s Canadian February GDP miss (-0.2% vs. expected 0.2%).  Though pulling back from Friday’s close, an 8-month high against the USD, the Loonie remains in very strong territory as investors predict Canada will be the first among G-7 nations to raise interest rates. The US savings rate in March rose marginally from its 4-year low, up to 3.8% from 3.7%; however, US savings… Read more

    Market Comment: April 27

    By / April 27, 2012

    Good morning, The US Dollar is trading weaker this morning after posting a big miss in Q1 GDP, which came to print at 2.2%, well below the expected 2.6%.  Making matters worse, 0.6% of the 2.2% was an increase in inventories, while fixed investment was a meagre 0.2%.  The USD/CAD is now trading at the strongest rate seen since September 2011. The Bank of Japan has expanded its asset purchase program by ¥10 trillion ($128bln)… Read more

    Market Comment: April 26

    By / April 26, 2012

    Good morning, The Canadian dollar traded higher yesterday following the FOMC meeting and press conference where Fed Chairman Bernanke signalled additional easing is on the table but will not be his ‘go-to’ tool.  Unfortunately, the Loonie could not hold the rate and has retraced to yesterday’s close; though it has managed to sustain the break through its 3-month trading range. The Federal Reserve projections for long run growth, unemployment and inflation remained unchanged, but growth… Read more

    Market Comment: April 25

    By / April 25, 2012

    Good morning, Markets are heading higher this morning following yesterday’s after-hours earnings release from Apple, which is up over 9% in pre-market trading.  Traders will be keeping their eyes peeled on today’s FOMC meeting at 10:30(MT); any mention of further quantitative easing will spike risk appetite and boost the Canadian dollar. Apple Q2 earnings beat estimates by 22% driven by higher demand for iPhones in China.  The company was also able to add over $12… Read more

    Market Comment: April 24

    By / April 24, 2012

    Good morning, Markets are calm this morning following yesterday’s 1.5% selloff in the TSX.  European downside risks continue to weigh on markets and the Canadian dollar, although marginally stronger, is still trading within a tight 200 point range against the USD. The Progressive Conservatives won yesterday’s Alberta provincial election in a landslide, extending the party’s 41-year tenure by handily beating the Wildrose party and electing Alison Redford as Premier (the first time a female has… Read more

Back to Top