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NBC Daily Forex : August 15, 2013

ByThe National Bank of Canada
Published 08/16/2013, 08:40 AM
Updated 05/14/2017, 06:45 AM

Confrontations between supporters of ousted President Mohamed Morsi and the Egyptian army degenerated yesterday, resulting in nearly 525 dead according to government sources. A curfew is in effect in half the country and a state of emergency has been declared for the upcoming month by the interim president. The international community is appealing for calm this morning. Let's hope the call will be heard.

In Canada, CREA Existing Home Sales figures for July will be released at 9:00 this morning. In June, home sales had increased by 3.3%. Yesterday, we learned that the price of homes climbed by 0.7% in July, slightly above the 0.5% forecast. We may therefore have more good news for the loonie this morning.

U.S. Initial Jobless Claims are also expected this morning. Markets are forecasting the figure to remain stable at 335,000 claims, compared to last week’s 333,000. Nothing to be worried about. We are also watching Consumer Price Index data for July, forecast at 2.0% versus 1.8% for June, and the NY Empire State Manufacturing Index figures expected to come in at 10, up from 9.46 previously. All in all, good news from south of the border. Wishing you a great day! Xavier Villemaire

Range of the day: 1.0305-1.0375

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