FX Daily Update
The National Bank of Canada | Nov 19, 2014 11:38PM ET
Stock markets were bolstered by a wave of optimism yesterday when the U.S. Producer Price Index for October came in with a reading of 0.2%, or 0.3% higher than economists had forecast. The country’s flagship S&P 500 Index rode the good news to an historic high, closing at 2051.
The U.S. Senate voted yesterday on the Keystone Pipeline Project, which fell one vote short of generating the 60 out of 100 votes needed to move forward. We will therefore need to wait until next year to see whether the bill will pass when there are likely to be eight more Republicans in the Senate.
According to Bank of Canada Deputy Governor Agathe Coté, the BoC is currently studying the possibility of raising its inflation target and using solely core inflation, which excludes the most volatile items, as an inflation indicator.
This afternoon, we will be keeping an eye on the most recent FOMC meeting minutes. Have a great day!
Range of the day: 1.1300 – 1.1400
Range of the next 5 days: 1.1150 – 1.1550
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.