July 31, 2012

    Greece Tapped Out

    By / July 31, 2012

    Market Comment Markets are relatively calm this morning leading in to tomorrow’s FOMC meeting in the US. The Canadian dollar has slipped against the USD following weak economic data, namely monthly GDP. Greece Running out of Cash In an all too familiar story, Greece is running out of money again. With cash reserves near zero and their bailout payment in August uncertain, the country faces a €3.2bln bond repayment that is looking less and less… Read more

    Central Bank Meetings

    By / July 30, 2012

    Market Comment The Canadian dollar is trading within a tight range against the USD and has held on to last week’s gains; however, risk aversion is gripping markets ahead of Thursday’s ECB interest rate meeting. ECB Meeting Expectations ECB President Draghi’s comments last week have substantially increased market expectations leading into Thursday’s rate meeting. Draghi is looking for unilateral support by EU nations for the ECB to begin making direct bond purchases to support struggling… Read more

    Spain Concedes Need For Rescue

    By / July 27, 2012

    Market Comment Markets are fairly tame this morning, though news that Spain has conceded and is in talks with Germany regarding a bailout is putting a bid into risk appetite. The CAD is up marginally on the news, trading 15 basis points higher against the USD. Spanish Rescue Needs German and Spanish finance ministers met recently discussing the option of another rescue bailout should borrowing costs in Spain continue to rise. Spain’s 10-year yields recently… Read more

    ECB Comments Send Markets Surging

    By / July 26, 2012

    Market Comment Markets are surging higher today, with the Loonie and Euro up 1 and 1.5 cents respectively against the US Dollar. The primary factor was ECB President Draghi’s comments that the ECB “will do whatever it takes to preserve the Euro…and believe me, it will be enough.” ECB Comments Risk appetite is up across the board following comments from Draghi, hinting at further easing, rate cuts or even something bolder. Periphery sovereign bond yields… Read more

    Markets Gain on Fed Easing Expectations

    By / July 25, 2012

    Market Comment Markets are on the rise this morning following news that Fed officials are moving closer to taking action to spur growth in the stagnant US economy. The Fed could take action as quickly as next week; however, they may wait until their September meeting to gather more info regarding the growth and employment situation. Anticipation of Fed Easing Gold and silver are trading higher as it appears the market is once again anticipating… Read more

Back to Top