September 30, 2013

    Markets and USD Weak Ahead of Potential US Government Shutdown Tonight

    By / September 30, 2013

    Good morning, The US dollar has weakened leading into the trading day; if the Senate cannot pass the latest bill, which includes a one-year delay to Obamacare implementation, the US government will face a shutdown at midnight tonight. A shutdown would likely only last a day or two until a new resolution passes Congress later this week; however, we could see a delay in Friday’s much anticipated non-farm employment change report. In the past, the… Read more

    Risk Aversion as US House Shoots Down Another Debt Deal

    By / September 27, 2013

    Good morning, Equity markets have erased yesterday’s modest gain while the US dollar remains mixed against the major pairs. House Republicans shot down another proposal for a debt deal that tied together a one-year debt-ceiling hike to a slew of popular conservative policies, including a delay of Obamacare. With a government shutdown coming as early as October 1st, most House Republicans now seem to recognize that any proposed debt plan will likely leave Obamacare intact…. Read more

    Markets Unchanged Amid Mixed US Data

    By / September 26, 2013

    Good morning, Markets are quiet as we begin another trading day following mixed economic data out of the US. Many are focused on the political gridlock in the States, where the government could face a default scenario as soon as October 17th if they cannot find a deal to raise the debt ceiling. US weekly jobless claims beat expectations, printing at 305K vs. the expected 310K. A continuation in the improvement of the US labour… Read more

    Markets Seek Direction, Watch Economic Data Intently

    By / September 24, 2013

    Good morning, Markets are focused intently on economic data and any color out of the Fed as they seek a proper direction. Currency markets are unchanged while commodities are losing support. The US housing market did not improve as much as expected in July; the Case-Shiller house price index rose 12.4% while forecasts called for a rise of 12.5%. In Canada, core retail sales beat, printing at 1% vs. 0.6%, well above the previous report… Read more

    Risk Aversion Even As Chinese Data Beats

    By / September 23, 2013

    Good morning, German Chancellor Angela Merkel has been voted in for a 3rd straight term, winning over 40% of the vote and extending the party’s power in Germany. Expect the government to now turn towards the Social Democrats to form a coalition government. The Euro did not make a positive move on the election outcome as markets are now focusing on general strikes in Greece and reports that Italy’s oldest and likely most insolvent bank… Read more

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