• Weekly Summary on USD, EUR, JPY, GBP, AUD, CAD and MXN

    The market's appetite for risk is strong at the start of a week that will see rate decisions from the world's major central banks including the BoC, the ECB, the BoE, the RBNZ and the RBA. Both the ECB and the RBA are expected to cut rates by 25bps. This week should be relatively quiet in terms of US data releases. This morning the Institute for Supply Management's nonmanufacturing index fell to 52 in November from 52.9 a month earlier.
  • Weekly Summary on USD, EUR, GBP, JPY, AUD, CAD and MXN

    The US returns from the Thanksgiving holiday with early reports suggesting that Black Friday, the busiest shopping day of the year, proved robust. According to ShopperTraK, sales rose an estimated 6.6% to total of $52.4 billion on Black Friday, providing another sign that the US economy is holding up relatively well.
  • Weekly Forex Summary on USD, Euro, GBP, JPY, AUD, CAD and NZD

    This week's economic data releases will be fairly modest, yet, subject to considerable scrutiny, given that the renewed risk aversion and selloff of the stock markets at the end of last week. All eyes will be on Fed Chairman Ben Bernanke speaking at an annual conference in Jackson Hole, WY Friday. Investors are hopeful that his speech will shed some light on the scope for further quantitative easing over the coming months. Tomorrow, data for new home sales are due. After last week's gloomy...
  • Weekly Forex Summary on USD, Euro, GBP, JPY, AUD, CAD and MXN

    Last week the February non-farm payroll headline number was essentially in line with expectations (192,000 vs. 196,000 expected), while private payrolls were a marginally stronger than anticipated (222,000 vs. 200,000 forecast). The decrease in unemployment to 8.9% from 9.1% is encouraging.
  • Weekly Forex Summary on USD, Euro, GBP, JPY, AUD, CAD and MXN

    Resurgent political turbulence in the Middle East led to a prominent risk-off tone in markets today, with the Libyan regime seemingly on the edge of toppling as violence in the country escaktes. US stocks fell this morning as the situation in Libya prompted investors to move away from riskier assets, providing a pause after the market's six-month rally. On the data front the US trading week was kicked off with conference board consumer confidence for February. The release came in above expect...
  • Weekly Forex Summary on USD, Euro, GBP, JPY, AUD, CAD and MXN

    The USD gained against 14 of the 16 most actively traded currencies last week as Egyptian President Mubarak's 30-year rule came to an abrupt end. After three weeks of demonstrations, which remained mostly peaceful, the calls for political change became too strong for the Egyptian dictator to ignore, forcing him to cede power to the military. Global markets have generally embraced the democratic change as a positive for the region with global commerce, oil transport through the Suez Canal most...
  • Weekly Forex Summary on USD, Euro, GBP, JPY, AUD, CAD and MXN

    The USD is continuing to build on its gains from late last week, even in light of the fairly supportive macro-financial environment today. US equities are up, further supporting the USD as are copper and oil. Gold is down modestly in light of the stronger USD. With the greenback's gains, NZD, AUD and GBP are best supported today while NOK, SEK & EUR are the most prominent laggards. US yields are supporting the USD with the US 2yr Treasury yield increasing to a nearly eight month high just bel...
  • Weekly Forex Summary on USD, Euro, Yen, GBP, CAD, AUD and MXN

    After last week's USD weakness - it slipped from 1.3387 to 1.3621 against the EUR - we are anticipating a more neutral week and a period of consolidation. This week could prove to be key in terms of setting the tone for US markets, with the FOMC holding its first policy meeting of the year on Wednesday, and advance Q4 GDP data due for release on Friday. No major changes to the Fed's stance are expected, despite the fact that the annual rotation of voting members has meant a shift in a more...
  • Weekly Forex Summary on USD, Euro, GBP, JPY, AUD, CAD and MXN

    This week's trading could get off to a slow start with US markets out for Martin Luther King holiday yesterday. Markets, however, are expected to remain volatile given the focus on Eurozone sovereign risk as well as changing interest rate expectations on the back of recent data trends. The stream of data releases kick off today with New York Fed's manufacturing index. The release came in 11.92, below a forecast of 12.50. The NAHB index came in at 17 vs. a forecast of 17. Data for the housi...
  • Forex - Market Summery

    Last week, America's currency was the clear beneficiary of the nascent economic recovery in the US, as well as the safe haven flows stemming from the budget crises plaguing the Eurozone. The dollar's gains were also temporarily exacerbated by the unexpected 25-bps hike in the Discount Rate (DR)-the rate at which the Fed lends emergency funds to commercial banks. A string of mostly robust US data last week and this morning helped to paint an economic picture colored with hues of hope and prom...
  • Lions Gate Metals Inc. and Ausnico Limited Announce Business Combination

    Lions Gate Metals Inc. and Ausnico Limited announced that they have entered into a binding letter of intent (LOI) dated December 17, 2009 containing the principal terms of the business combination transaction disclosed in the Company's news release dated September 3, 2009.