February 28, 2014

    USD Drops on Downward Revision to GDP

    By / February 28, 2014

    Good morning, The US Dollar is weak this morning following a miss in its revised GDP in the fourth Quarter. Expectations were calling for growth to drop to 2.6% from 3.2%; however, GDP came to print at 2.4% after a substantial downward revision to personal consumption. Meanwhile, Canadian GDP also missed the mark, printing at -0.5% on expectations of -0.2% in December as capital expenditures fell. Once the largest and most dominant Bitcoin exchange in… Read more

    USD Gains on Risk Aversion

    By / February 27, 2014

    Good morning, Markets are muted across the globe as many sit and wait to see how the chess match between the US and Russia unfolds as well as tomorrow’s GDP in both Canada and the US. US weekly unemployment claims printed at its highest level of the year, well above expectations at 348K vs. 333K. Meanwhile, US core durable goods orders rose unexpectedly in January, printing at 1.1% on a forecast of a 0.1% drop…. Read more

    Ukraine Abandons US Dollar Exchange Rate Peg Amid Deposit Outflows

    By / February 26, 2014

    Good morning, Markets are mixed this morning, though all trading well within their recent ranges; the Canadian dollar has dropped by 30 basis points against the USD, but remains one-cent higher than recent lows. Big Canadian news this morning was RBC’s solid Q1 earnings that saw profits rise 2.2% to $2.01B on wealth management and investment banking gains. The Ukraine has unwillingly abandoned their US Dollar peg and moved to a free floating exchange following… Read more

    China Weakens Yuan By Most in 20 Years

    By / February 25, 2014

    Good morning, Markets were quiet overnight, though in an odd case scenario, Crude Oil, Gold and the US Dollar index are all in the red this morning. The USD/CAD is relatively unchanged overnight, with a slight bias towards CAD weakness on weak commodity prices. All eyes were focused on China overnight, as the People’s Bank of China devalued the Yuan by the most in 20 years by draining CNY 100 Billion (C$18B) in liquidity via… Read more

    CAD Gains on Risk Appetite

    By / February 24, 2014

    Good morning, Markets are quiet this morning, though generally trending higher as an interim government takes control of the Ukraine. It will be a light week in terms of economic data, with the major data points not coming until Friday: Canadian and US GDP, US consumer sentiment, pending home sales and Chicago PMI. With a warrant out for former Ukraine President Yanukovych’s arrest for his role in last week’s violence that resulted in 82 deaths,… Read more

Back to Top