Investing.com - Financial Markets Worldwide

NBC Daily Forex : July 18, 2013

ByThe National Bank of Canada
Published 07/21/2013, 04:01 AM
Updated 05/14/2017, 06:45 AM
FTNMX301010
-1.36%

Yesterday, the three heads of the central banks gave speeches that were strangely along the same lines. Unanimously, the central banks stated that they were waiting to see evidence of more convincing economic growth before considering tapering the abnormally accommodating monetary conditions currently in place. The Canadian dollar fluctuated by nearly 90 points yesterday morning but it did not move out of the range it has traded in for the past 5 days. Poloz’s first public appearance therefore did not cause much volatility, with the new governor staying the course established by Mark Carney.

A few economic indicators are expected this morning. In Canada, Wholesale Sales figures for May will be released at 8:30 a.m.. Markets are forecasting an increase of 0.3 % vs. 0.2% for the previous month. Given recent Canadian economic indicators, it would be surprising to see this indicator increase more sharply than forecasts.

South of the border, Initial Jobless Claims figures will be released this morning, forecast to be down slightly at 345,000 for last week. The U.S. economy appears to be gaining ground in terms of job creation. However, a high percentage of the jobs created appear to be part-time positions. We will continue to monitor the situation with the release of the monthly employment data expected on August 2. Wishing you a great day. Xavier Villemaire

Range of the day: 1.0340-1.0440


Description

Latest comments

Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.