The recent drop in gas prices, improved job figures and higher home prices are all factors that will support the U.S.’s economic recovery over the next few quarters. Consumer Confidence Index figures released yesterday, at their highest level in nearly five years, confirm this. Once fiscal cliff-related fears are behind us, markets will be able to regain momentum, which will benefit stock markets, energy prices and the loonie.
Overnight, Spain’s three bond issues were well received by markets and are helping support the euro which is still far from the 1.2043 low registered on July 24 against the greenback. The Chinese HSBC Manufacturing PMI data released last night signalled the first expansion in 13 months. The news buoyed Asian and European markets, which recorded gains. The futures market points to a slightly higher opening on the Toronto Stock Exchange.
American stock markets will be closed in the U.S. today because of Thanksgiving. The rest of the week is likely to be calm on the markets with a low transaction volume expected. Wishing you a great day.
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NBC Daily Forex
Published 11/22/2012, 06:20 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex
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