On Monday, Quebec-based Valeant Pharmaceuticals signed an agreement to acquire U.S. eye care specialist Bausch + Lomb for the hefty sum of $8.7 billion. According to the Wall Street Journal, a major part of the acquisition will be financed by debt issues, with the balance of $1.5 to 2 billion to be be funded by new shares. Although many of the details of the acquisition have yet to be defined, it is possible that greater capital flows would affect the USD/CAD pairing in upcoming sessions.
The U.S. Consumer Confidence Index figures for May will be released at 10 a.m. Markets are expecting the index to rebound slightly, from 68.1 in April to 71.0. On top of the other positive data from south of the border, this would be good news for the Canadian dollar in contrast with the current lacklustre economic outlook at home. A strong increase would force the loonie to revisit last week’s highs. On the eve of the Bank of Canada’s Key Interest Rate decision, we recommend you review the level of your orders with your trader. Wishing you a great day. Xavier Villemaire
Range of the day: 1.0300 - 1.0400
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NBC Daily Forex: May 28, 2013
Published 05/28/2013, 08:39 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex: May 28, 2013
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