Dropping oil prices over the last few days, combined with a general decline of stock markets, resulted in the loonie’s depreciation against the USD yesterday. The pullback of Canadian bonds, which is continuing this morning, also explains the increase in swap rates since the beginning of the week.
President Obama gave a speech on the U.S. economy in Illinois yesterday. He spoke about the negotiations that will take place between Democrats and Republicans in the fall about the increase in the U.S. debt ceiling level and the importance of creating jobs to support the middle class. We can certainly expect volatility in the markets in September.
Two main economic indicators will be released south of the border this morning: Durable Goods Order figures for June and Initial Jobless Claims data. Wishing you a great day ! Rana Karim
Range of the day: 1.0250 -1.0340
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NBC Daily Forex : July 25, 2013
Published 07/28/2013, 04:59 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex : July 25, 2013
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