It appears that a hacker was able to gain access to the Associated Press's Twitter account yesterday and decided to spread a rumour about a bomb going off at the White House, injuring President Obama. The S&P500 lost close to 1% in a few minutes before rallying after the story was denied by AP. For anyone who still had doubts, it definitely appears that an army of computers carefully monitor newswires and instantly adjust their orders according to market developments. It seems that the current balance in markets rests on a much less solid footing than previously hoped.
On our side of the border, no economic indicators are scheduled for release today. However, some noteworthy data will be announced south of the 49th parallel. First, we learned at 7:00 this morning that MBA Mortgage Applications were up only 0.2% last week (YoY). It seems that not all is sunshine and roses in the U.S. real estate market. At 8:30, Durable Goods Orders will be announced. Markets anticipate a downturn of -3.0% for March, compared to the 5.6% gain the previous month. This would augur poorly for the loonie, should consumers in Canada's largest trading partner begin to tighten their purse strings. To be continued… Have a great day! Xavier Villemaire
Range of the day: 1.0220 - 1.0285
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FX And Market Outlook
Published 04/25/2013, 08:01 AM
Updated 05/14/2017, 06:45 AM
FX And Market Outlook
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