Canadian dollar at four month lowsNovember 26, 2013 Posted by: Pete Karabatos
Global markets have been mixed this morning with European stocks down for the first time in three days while U.S. stocks are up modestly. The Euro is stronger against most other currencies and the Yen broke a three day losing streak, trading modestly stronger today after the BOJ minutes were released though some board members saw downside risks in the economy. The Canadian Dollar is at four-month lows in large part because of the recent downturn in crude oil, which is the nation’s largest export.
• The S&P/Case-Shiller index of home prices showed year/year gains of 13.3%, the largest increase since 2006.
• U.S. building permits for new home construction rose to a 5 year high in October to a 1.03 million annualized rate.
• U.S. consumer confidence unexpectedly fell to a 7 month low in November as consumers grew more pessimistic about the job market.
• Mark Carney, the Bank of England Governor, told lawmakers that officials won’t rush to raise rates even if unemployment falls to 7% as there is “a lot of slack” in the economy.
• The Indonesian Rupiah dropped to its weakest level since March 2009 after the government failed to reach its offering target on a domestic dollar debt sale that raised only $190 million of their $450 million goal.
• Japan’s November small business confidence rose to 51.1 from 50.8 in October.
11/27 GBP: GDP (Q3)
11/27 USD: Durable Orders (Oct.)
11/28 EUR: Economic, Consumer, Industrial Confidence (Nov.)
11/28 EUR: German Unemployment/CPI Reports (Nov.)
11/29 EUR: CPI (Nov.)
11/29 CAD: GDP (Q3)
12/02 EUR: Manufacturing PMI (Nov.)
12/02 USD: Construction Spending (Oct.)
12/03 EUR: Producer Price Index (Oct.)
12/03 USD: Vehicle Sales (Nov.)