August 26, 2013

    Last Week of August

    By / August 26, 2013

    Good morning, Markets are flat this morning as we head into the final week of August. The weekend was largely uneventful for the global financial markets, as the world waits to see how the Federal Reserve deals with the potential tapering of Quantitative Easing next month. The only economic data released across the globe this morning are the Durable Goods Orders out of the U.S. These numbers missed significantly on both the core and unadjusted… Read more

    Investors Await Wednesday’s FOMC Minutes

    By / August 19, 2013

    Good morning, Markets were tame over the weekend with most assets trading at or near Friday’s close levels. In terms of economic data, it will be a quiet week until Wednesday’s FOMC minutes, Canadian retail sales Thursday, and Canadian inflation (CPI) Friday. Currency markets are all quiet, save for mild strength in the GBP and Euro. The FOMC minutes on Wednesday should make mention of the seemingly imminent September tapering as the US economy finds… Read more

    Investors Reallocate Assets Ahead of US QE Taper

    By / August 16, 2013

    Good morning, Markets are quiet today after equities took a drubbing yesterday, falling 1.5% on risk aversion in anticipation of a cut in US stimulus (and the broken record theme continues). The Euro and GBP are strong this morning as investors re-allocate assets away from the US. The Canadian dollar is down 40 basis points overnight following weak domestic economic data. Manufacturing sales fell 0.5% in June on expectations of a 0.5% gain, while foreigners… Read more

    Markets Tank on Positive US Jobs Data, Signalling Fed Taper

    By / August 15, 2013

    Good morning, The US dollar has gained 30 basis points this morning as investors continue to price in the probability that the Fed will begin tapering stimulus/QE beginning in September, driving down commodities and equities. US weekly unemployment claims beat expectations (320K vs. 334K), helping further justify a pullback in easing. Watch for any positive employment data, be it weekly unemployment claims or the non-farm employment change on Sept. 6th, to boost the US dollar… Read more

    Europe Rises on Exit From 6 Quarter Recession

    By / August 14, 2013

    Good morning, Markets are quiet today, with volumes lower as the world remains in vacation-mode in August. Equity markets are in the red, giving back yesterday’s 0.3% gain while commodities remain soft. The Canadian dollar is unchanged from yesterday’s close but erased overnight losses from investors expecting the Fed to taper in September. After 6 straight quarters, the Euro zone has returned to growth and ended their longest recession ever; GDP grew 0.3% in Q2… Read more

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