NBC Daily Forex: June 10, 2013

By The National Bank of CanadaCurrenciesJun 10, 2013 08:22AM ET

www.investing.com/analysis/nbc-daily-forex:-june-10,-2013-170843

NBC Daily Forex: June 10, 2013

By The National Bank of Canada | Jun 10, 2013 08:22AM ET

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Chinese Inflation and Industrial Production figures for May were announced Monday night, and proved slightly disappointing. In contrast, Japan saw a leap of 4.1% in its annualized GDP for the first quarter of the year. The Bank of Japan's strategy of printing money appears to be hitting the mark. Very early Tuesday, BoJ Governor Haruhiko Kuroda will announce his key rate decision, which could trigger volatility.

Closer to home, Fed officials are pondering a gradual pullback from quantitative easing measures. Many have denounced the program as disrupting markets, and certain indicators seem to bear this out. By purchasing massive quantities of securities, the Fed has driven yields to rock-bottom levels, driving away other buyers. Last week, the repo rate at which banks borrow dipped into negative territory (which had also occurred in the thick of the financial crisis). Essentially, this means that private money market funds must pay interest to banks to lend them money. Needless to say, an excellent reason to invest elsewhere. These distortions are proving troublesome to markets, and may be depriving the economy of precious capital. Should a pullback from quantitative easing measures begin, the greenback would likely take off, making this an area that bears watching closely.

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Central Banks

Interest Rates

Next Meeting

FED

4.50%

Mar 19, 2025

ECB

2.65%

Apr 17, 2025

BOE

4.50%

Mar 20, 2025

SNB

0.50%

Mar 20, 2025

RBA

4.10%

Apr 01, 2025

BOC

3.00%

Mar 12, 2025

RBNZ

3.75%

Apr 09, 2025

BOJ

0.50%

Mar 19, 2025

CBR

21.00%

Mar 21, 2025

RBI

6.25%

Mar 10, 2025

PBOC

3.10%

BCB

13.25%

Mar 19, 2025

US 30	42,768.5	+189.7	+0.45%
US 500	5,764.8	+26.3	+0.46%
Dow Jones	42,801.72	+222.64	+0.52%
S&P 500	5,770.20	+31.68	+0.55%
Nasdaq	18,196.22	+126.97	+0.70%
S&P 500 VIX	23.37	-1.50	-6.03%
Dollar Index	103.810	-0.220	-0.21%

Crude Oil WTI	67.04	+0.68	+1.02%
Brent Oil	70.36	+0.90	+1.30%
Natural Gas	4.399	+0.097	+2.32%
Gold	2,914.10	-12.50	-0.43%
Silver	32.809	-0.529	-1.59%
Copper	4.7100	-0.0975	-2.08%
US Soybeans	1,025.00	-2.25	-0.22%

U.S. 10Y	4.304	+0.025	+0.70%
U.S. 30Y	4.601	+0.022	+0.44%
U.S. 5Y	4.083	+0.025	+0.74%
U.S. 3M	4.303	+0.002	+0.00%
US 10Y T-Note	110.55	-0.23	-0.21%
Euro Bund	127.66	-0.81	-0.63%
10-2 Yield Spread	30.34	-0.98	-3.13%

Apple	239.07	+3.74	+1.59%
NVIDIA	112.69	+2.12	+1.92%
Alphabet A	173.86	+1.51	+0.88%
Tesla	262.67	-0.78	-0.30%
Amazon.com	199.25	-1.45	-0.72%
Netflix	891.11	-15.25	-1.68%
Meta Platforms	625.66	-2.27	-0.36%

NBC Daily Forex: June 10, 2013

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