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NBC Daily Forex : May 22, 2013

Published 05/26/2013, 05:40 AM
Updated 05/14/2017, 06:45 AM
  • Canadian Retail Sales and Existing Home Sales south of the border will be of interest to investors. However, the release of the FOMC meeting minutes will have the most significant impact on markets. Comments from Fed voting members hinting at a gradual end to current quantitative easing measures could help boost yields and bolster the greenback.
  • New York Fed President William Dudley stated that we would know in the next three to four months whether the U.S. economy is on a solid enough footing to absorb both budget cuts and a reduction in monetary stimulus.
  • Stock markets also continued to rise on Tuesday, with the S&P500 hitting a new high. Stocks received a shot in the arm from comments by Goldman Sachs that they anticipate a continued rise through to 2015.
  • The yen is still climbing, as the Bank of Japan stays the course with its expansionary monetary policy. Japanese officials have made up their minds to fight deflation through a highly aggressive bond purchasing program. The yen has dropped 30% against the greenback since last September.

  • EXISTING HOME SALES

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