Investing.com - Financial Markets Worldwide
🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

NBC Daily Forex : October 16, 2013

ByThe National Bank of Canada
Published 10/20/2013, 01:43 AM
Updated 05/14/2017, 06:45 AM

The agreement that was to come out of the Senate and be approved by the House was unable to garner sufficient support yesterday, meaning we're back to the drawing board for what's shaping up to be a long day of negotiations. Certain analysts are even looking into the various options available to Washington to allow the country to make required debt payments, notwithstanding the fact that the debt ceiling has not been raised from its current level ($16.7 trillion). It would no doubt be more reassuring for markets to see the U.S. political system working productively and reaching a solution to the impasse before tonight's midnight deadline. Were an agreement to be reached, the greenback would very likely lose some of the gains it has recorded in recent days as a safe haven in crisis situations.

U.S. mortgage applications for the week of October 11 were scheduled to be released at 7:00 a.m. today and came in down 0.3% compared to 1.3% the previous week. It appears the political wrangling in Washington is having an impact not only on international fund providers, but also the average American.

Canadian August Manufacturing Sales figures will be released this morning. Markets anticipate growth of 0.2%, compared to 1.7% in July, a reading that would not augur well for the Canadian economy. Wishing you a great day! Xavier Villemaire

Range of the day: 1.0330-1.0420
MANUFACTURING SALES

Latest comments

Loading next article…
Install Our App
Risk Disclosure: 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.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.