Posts Tagged: Bank of Canada

The end of the Group of Twenty summit has had a powerful impact upon the trading sentiment, causing the evolution of some currencies to change. This G-20 summit was supposed to find solutions for the sovereign debt crisis in the Eurozone and for the banks in the region. Up to now, the only result we know concerning this summit is that the members of the 20 European countries have refused the idea of a forceful restructuring of the Greek debt. It seems that the plans made by politicians did not manage to persuade investors of this thought. Moreover, the market has been affected by the decrease of the European manufacturing and services industries.

The result of this still blur outcome is that of influencing the trading sentiment, causing the risk appetite to grow once more. This has had a negative impact upon the US Dollar, which started to fall against its major counterparts as the safety need Read more »

The European currency has managed to score gains during the overnight trade, just as the commodity currencies did. They have traded at higher values than the safe-haven currencies, based on the certainty of the traders that the European officials will find a way to solve the sovereign debt crisis. But the Euro optimism has only lasted during the overnight session, period in which the Euro managed to score gains of 0.71 percent against the Swiss Franc, of 0.33 percent against the US Dollar and of 0.31 percent against the Japanese Yen. But these gains have been lost during the day, after the opening of the North American trade due to the fact that the German Prime Minister, Angela Merkel, made some dovish commentary. She has called on the larger European Union’s nations in order to help with the periphery countries as for the sovereign debt crisis to be solved “from the core” as she believes that the meeting Read more »

The current account deficit and the interest rates which have remained unchanged for a large period of time have caused a negative influence upon the Canadian Dollar which has lead the currency to loosing ground against most of its major counterparts except the US Dollar. The gains against the US counterpart can be explained through the release of the bad economic data concerning the evolution of the US economy. Nonetheless, the problems concerning the interest rates and the GDP index have had a bad influence on the evolution of the currency, contra balancing the positive economic data which shows the fact that the country’s economy is on an ascendant lane.

Figures show the fact that the Canadian Gross Domestic Product sector has grew by 0.3 percent on a month-to-month basis since the beginning of the year. This growth is larger than the expected one, which had been forecasted for the value of 0.2 percent a month, and a Read more »