The 2013 edition of the World Economic Forum, where the global financial elite meet in Davos, in the Swiss Alps to discuss problems affecting the entire planet, wrapped up yesterday. It appears that the atmosphere of the conference was not as imbued with optimism as in the past. Among the noteworthy points, several participants expressed concerns regarding the impact of expansionary monetary policies by almost all major central banks. On the currency front, the diversity of viewpoints is remarkable, starting with the Chinese, who feel that the current balance is well suited to reality, and ending with the Swiss and Japanese, who are adamant that their respective currencies are "overvalued" at present, requiring actions by their central banks. No doubt we will have an opportunity to revisit these subjects on several occasions in 2013.
Today we will be watching for Durable Goods Orders data for December from south of the border. Markets are anticipating growth of 2.0%, up from 0.7% in November.
The loonie continues to appear fragile this morning, with the USD/CAD pairing at its highest level since July 2012. Xavier Villemaire
Range of the day: 1.0050 – 1.0120 
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NBC Daily Forex : January 28, 2013
Published 01/29/2013, 07:09 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex : January 28, 2013
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