FX Daily Update
The National Bank of Canada | Nov 28, 2014 12:27AM ET
U.S. tech stocks propelled the S&P 500 and the Dow to new highs yesterday. However, the energy sector had a rough day due to fears over whether OPEC would take steps to slow plummeting oil prices. Crude fell close to another 1.7% overnight as OPEC meets today in Vienna.
Germany, the economic powerhouse of the eurozone, released jobs figures for November this morning. To the surprise of many, unemployment dipped from 6.7% to 6.6%. The euro fell slightly against the greenback on the news, but has since levelled off.
Markets are closed for the Thanksgiving holiday south of the border today and liquidity will be very thin. No major news is scheduled in North America and the USDCAD pairing should remain stable within the range of the past few days.
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