May 31, 2013

    Markets Lower on Risk Aversion

    By / May 31, 2013

    Good morning, Investors are purging risk as we head into the weekend. Commodities and equities are heading lower while the US dollar has caught a bid on risk aversion. Canadian GDP in March slightly beat expectations: 0.2% vs. 0.1%. Exports were the largest contributor to growth, with mining and oil extraction leading the charge, rising 4.1% in the first quarter. The Canadian dollar is unchanged from yesterday’s close, after losing and regaining 50 basis points… Read more

    Nikkei Down Another 5% Overnight

    By / May 30, 2013

    Good morning, The Nikkei plunged another 5.15% overnight, paring the YTD gains down to a mere 31% from its highs of 48% only one week ago. The plunge in stocks coincides with a rise in government bond yields as the central bank attempts to increase inflation; Japan has been in a deflationary environment for going on two decades. US weekly jobless claims rose unexpectedly to 354K vs. 342K; however, the Labor department had to estimate… Read more

    Loonie Strong Ahead of Carney’s Final Meeting

    By / May 29, 2013

    Good morning, The US dollar has continued to rally against its peers following positive consumer confidence yesterday which is signalling to investors that a pullback in QE might be on the horizon. The USD gained nearly one-cent against the Loonie from yesterday’s low, but has pulled back 20 basis points overnight. Bank of Governor Mark Carney’s last hoorah comes this morning at his final interest rate meeting, where rates are expected to remain unchanged at… Read more

    Strong US Housing Drives Markets Higher

    By / May 28, 2013

    Good morning, Investors are adding risk this morning following long weekends in the UK and the US. Equities and commodities are on the rise while Gold falls on a rise in risk appetite. The US Case-Shiller house price index rose slightly more than expected in March, rising 10.9% vs. the consensus 10.2%. The index has risen steadily every month going back to December 2011 as the US housing market gains traction. The Dow Jones is… Read more

    Quiet Markets Thanks to Memorial Day Holiday

    By / May 27, 2013

    Good morning, It will be a quiet day in the markets today with the US on Memorial Day holidays. Weakness in the Japanese stock market extended over the weekend; the Nikkei has fallen nearly 15% from its highs last Thursday, down 3.25% today. Investors, primarily hedge funds, continue to shun the Japanese index, betting that the top has been reached and it is time to take profits. Wednesday will be Bank of Canada Governor Mark… Read more

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