The Canadian dollar consolidated yesterday’s losses in a USD/CAD range of $1.2104-$1.2140 overnight, before dropping to $1.2092 in New York trading.
The overnight session was uneventful. The major Asia equity indexes closed modestly lower except for Australia’s ASX 200, which was unchanged. European bourses are mixed. The FTSE 100 is flat, the German DXA is lower, and the French CAC slightly higher. S&P 500 and Dow Jones Industrial Average futures are in negative territory. Gold and oil prices are trading with small losses. FX markets traded sideways.
U.S. Federal Reserve Vice Chairman Richard Quarles opined about tapering yesterday, saying, “If my expectations about economic growth, employment, and inflation over the coming months are borne out, it will become important for the (Federal Open Market Committee) to begin discussing our plans to adjust the pace of asset purchases at upcoming meetings.”
He didn’t say anything “taper-tantrum” worthy, but the U.S. dollar … Read more