Yesterday’s U.S. GDP figures confounded analysts, with annualized 3rd quarter growth of 2.8%, well above the expected 2.0%. Financial markets took some time to digest this development, but the usual reasoning eventually won out, and the S&P 500 lost 1.33% during the trading session, as markets believe that if American growth is too positive, the Fed will speed up the tapering of its quantitative easing bond buyback program.
October jobs figures will be released on both sides of the 49th parallel today. Analysts expect an unemployment rate of 7% in Canada and 7.3% south of the border. A total of 11,000 new jobs are expected here, and a paltry 120,000 new jobs are expected in the United States.
In other news south of the border, September Personal Income and the University of Michigan Consumer Sentiment Index will be announced. Have a great weekend! Philippe Shebib
Range of the day: 1.0410-1.0510 
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NBC Daily Forex : November 08, 2013
Published 11/10/2013, 04:08 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex : November 08, 2013
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