The bond market reacted well to the revised U.S. economic growth figures for the first quarter of 2013, which came in yesterday below forecast. According to the latest revisions, GDP growth was 1.8% versus 2.4% anticipated for the first quarter of the year.
Several economic indicators are expected today and should lead to volatility on the currency market early this morning. U.S. Personal Spending, Initial Jobless Claims and Pending Home Sales data will all be released today. Higher than expected figures south of the border could weigh on the loonie and result in a tapering of interventions from the Fed.
European and Asian markets are up and the futures market points to a positive opening in North America. The loonie and crude oil prices are up slightly this morning. Emmanuel Tessier-Fleury
Range of the day: 1.0395 – 1.0490