Loonie set for decline as GDP shrinks

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Source: Bloomberg
The Canadian Dollar approached a 12-week low versus the greenback as Canada's GDP shrank for the first time in 6 months. The loonie traded below the parity level with its U.S. peer for a third day as Statistics Canada reported that output unexpectedly decline 0.1% to C$1.29 trillion in August from July year-on-year. Canada's currency was little changed at 99.64 cents per U.S. Dollar after touching C$1.0014 earlier. It reached C$1.0019 yesterday, the weakest level since August 6.
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Thu, 01 Nov 2012 09:21:03 GMT

Pound strengthens on speculation of less stimulus

The Pound headed for a second-day advance versus the U.S. Dollar on speculation the BOE will refrain from adding stimulus at the meeting of policy makers next week. Sterling rose against almost all of its major peers as the SNB said it increased amount of pounds in the foreign-exchange reserves. The pound gained 0.3% to $1.6113 after rising 0.3% yesterday.

Fri, 02 Nov 2012 09:39:49 GMT

Retail sales in Germany gained more than expected

Destatis reported on Wednesday that Germany's retail sales grew more than expected in September. Retail sales advanced by 1.5% on a seasonally adjusted basis last month, compared to a revised down figure of 0.1% in the preceding month. Economists, however, expected a more moderate increase of 0.3%.

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