November 29, 2013

    Risk Appetite Rising on Black Friday

    By / November 29, 2013

    Good morning, Currency markets are quiet, while equities and commodities make a push higher even with the quiet trading due to the US Thanksgiving holiday. The Canadian dollar is largely unchanged and continues to test the 5-month low against the US dollar. September GDP rose more than expected in September, matching the August release of 0.3%. Sentiment surrounding US retail sales appears fairly positive, even as Wal-Mart employees disrupt operations at 1500 of the company‚Äôs… Read more

    USD Testing 5-month High

    By / November 28, 2013

    Good morning, Expect to see muted market movements today with the US on Thanksgiving holidays; however, rates could exhibit some volatility with the reduced liquidity. The IMF has issued a report encouraging the Canadian government to abolish the CMHC program that enables home buyers with high ratio mortgages (less than 20% down payment) to have their mortgage insured by the government. The argument is banks are having an easy time creating mortgages; however, without these… Read more

    USD Reaches 5-month High Against CAD

    By / November 27, 2013

    Good morning, The US dollar has surged 50 basis points against the CAD and is now trading at a 5-month high following better than expected US weekly unemployment claims, which dropped to a 2-month low of 316K vs. the expected 331K. Expect these numbers to exhibit volatility as we enter the holiday season. US core durable goods orders dropped unexpectedly as well in October (-0.1% vs. 0.5%) as a lack of capital expenditure from corporations… Read more

    US Housing Data Improves

    By / November 26, 2013

    Good morning, US housing and real estate data came in better than expected. October building permits printed at 1.03M, a tidy gain after expectations called for a drop to 940K. The Case-Shiller housing price index also posted a gain, rising 13.3% on a forecast of 13.0%. Rental unit permits exploded while conventional single-family homes showed virtually no improvement. Things are apparently getting worse for the over-extended US consumer; US borrowers are increasingly missing payments on… Read more

    Iranian Nuclear Deal Weighs on Oil/$CDN

    By / November 25, 2013

    Good morning, The Canadian dollar reached a four-month low against the USD overnight as geopolitical developments weighed on markets the price of Crude Oil, and as a result, the Canadian dollar. News of an agreement regarding the Iranian nuclear program has been announced; Iran will freeze key parts of their program in return of easing of some sanctions from the UN. The agreement will give Iran the right to enrich, while more oversight will hopefully… Read more

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