Financial News 11 11 2009

Eurozone industrial production

Eurozone industrial production index for September rose by 0,3% in monthly terms, said the EU statistical agency Eurostat. Value was below the level projected by most analysts (0.5%). Nevertheless, the August index value revised upward - from 1.1% to 1.2%.
In annual terms, the euro-zone industrial output fell in September to 12,9%, compared with -15.1% in the previous month and the forecast of -14.1%. Note that the index continuously improved during the five months, after falling to -21.3% in April this year.

UniCredit expects further strengthening of the Canadian dollar

According to currency analysts UniCredit, while risky assets will be in demand, the likelihood of further reduction of a pair of dollar / Canada will continue. The bank noted that the recent decline in dollar / Canada has been significant, however, in the current environment, as only a couple make a confident break of support level at 1.04, the focus will once again be region 1.03 - 1.02. At the moment pair dollar / Canada is trading at around 1.0505.

Scotia Capital: the weakening of the Canadian dollar - just a correction

Canadian dollar today fell against the U.S. currency to a mark 1.0550 against the backdrop of an overall strengthening of the dollar. As a result, reduce the Canadian currency has lost a few points accumulated since the beginning of the week. As the analysts Scotia Capital, earlier this week the Canadian dollar strenuously making up for lost time, since the growth of the Canadian currency came later than other commodity currencies. In addition, the strengthening Canadian dollar contributed to a slight reduction in spread between U.S. and Canadian two-year bonds, as well as the general negative sentiment against the U.S. currency. However, pay attention to the bank's strategy, given that many factors indicate a lack of support for this growth, today's upward movement is likely to be regarded as rehabilitative in anticipation of the momentum that will provide dollar / Canada, a further reduction. At the moment pair dollar / Canada is trading at 1.0520