An environment where interest rates are kept very low to stimulate the economy remains a concern when it results in excessive household debt and an overheated real estate market. Sound familiar? The Bank of Canada has long expressed concerns over this issue, and now an increasing number of foreign economists have started singing the same tune. Paul Krugman, the well-known U.S. economist, yesterday stated that he is worried about Canada’s economy and fears the country may be experiencing a housing bubble. The BoC’s next meeting in July will undoubtedly focus on this issue.
Germany’s ZEW Economic Sentiment Index figures were released early this morning. This index, which is a six-month forecast of economic growth, rose in June to 38.5 versus 36.4 in May. ECB President Mario Draghi pointed out that very modest signs of economic growth are starting to be felt in the eurozone. The euro is now slightly up against the USD.
Several U.S. indicators are expected today. Inflation, Housing Starts and Building Permits data will all be released at 8:30. If these figures surprise markets, volatility will probably be short-lived as investors will attempt to position themselves before the news expected Wednesday. Wishing you a great day. Rana Karim
Range of the day: 1.0175-1.0265
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Several U.S. Indicators Expected Today
Published 06/18/2013, 08:49 AM
Updated 05/14/2017, 06:45 AM
Several U.S. Indicators Expected Today
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