Investing.com - Financial Markets Worldwide

The Cyprus Bailout: Impact

ByThe National Bank of Canada
Published 03/19/2013, 10:54 AM
Updated 05/14/2017, 06:45 AM
NWSA
-1.06%
  • In Europe, negotiations surrounding the Cypriot bank bailout plan continue to hold the attention of the media and investors. Several analysts are concerned about the precedent that is about to be created and the consequences that it will have on the savings of the other euro zone members, as well as on the potential creation of a euro zone banking union. Needless to say, investors are more risk-averse this morning. European stock markets are generally in the red this morning, and during the night the euro lost the few points it had gained during yesterday’s session.
  • January’s Manufacturing Shipments and Wholesale Sales figures are expected at 8:30 this morning. In both cases, markets are forecasting an interesting rebound, with wholesale sales up from -0.9% in December to +0.4% in January and manufacturing sales jumping from -3.1% to +0.6%. Overall, possible good news for the Canadian economy that seemed to be on a diet since early 2013.
  • South of the border, Housing Starts data for February will be released this morning. Markets are forecasting 915,000 new constructions vs. 890,000 previously. Wishing you a great day. Xavier Villemaire
  • Range of the day: 1.0200 - 1.0300 Range of the next 5 days:1.0075 - 1.0400
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