Despite very little volatility on markets yesterday and the CAD trading within a 40-point range, the S&P 500, once again and for the 23rd time this year, closed the day at a record level of 1,695.53.
Gold traded over the psychological level of $1,300 per ounce for the first time in 5 weeks, and had its biggest one-day increase in over a year. This climb of the yellow metal can notably be explained by the USD’s recent drop, and high expectations of demand from China.
Chinese markets are bullish this morning, further to the Chinese government’s comments indicating that measures will be taken if the country’s growth, as gauged by the GDP, drops below 7%.
A few North American economic indicators are expected this morning. Canadian Retail Sales figures will be released at 8:30 a.m., and U.S. Housing Price Index data are expected at 10:00 a.m. Wishing you a great day. Rana Karim
Range of the day: 1.0300 -1.0375
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NBC Daily Forex : July 24, 2013
Published 07/24/2013, 01:57 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex : July 24, 2013
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