Disappointing Economic Data Pressures U.S. Equity Markets
U.S. equity markets opened higher, fueled by a better than expected U.S. Gross Domestic Products report, but gains were erased when the Chicago PMI report showed unexpected weakness in the economy. Investors are reading this as another report showing the U.S. economy will experience a slow, drawn out recovery. U.S. Treasury markets have erased earlier losses and are now trading better for the day. December Treasury Bonds and Notes lost ground early this morning on the friendly GDP Report, but a
Friendly Gasoline Inventory Report Helps Canadian Dollar Extend Gains
The USD CAD opened sharply lower this morning and extended its losses following a better than expected government energy report. Gasoline futures rose after the government reported a decrease in inventories triggered by increased demand and a drop in imports. The strength in the gasoline market is helping to support crude oil prices. The crude rally has helped the Canadian Dollar extend its gains versus the U.S. Dollar. The tone remains bullish for the EUR USD following an early morning report