Bank of Canada left interest rate at 1.00%

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Source: Forexpros

June is the 14th month in a row for benchmark interest rate to remain unchanged. The central bank, in its statement, said that it was leaving the overnight cash rate at 1.00%, which absolutely corresponded with expectations. The central bank also added that as the situation becomes better, some monetary policy stimulus could be withdrawn, but these decisions will be weighed thoroughly.

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Tue, 05 Jun 2012 19:22:21 GMT

USD, Treasury yields remain up after ISM

After the news on PMI services index modest increase to 53.7 in May, Treasury prices stayed down resulting in 10-year note yields of 1.57%. The euro lost 0.41% against the dollar falling to USD 1.2449. The dollar index gained 0.27% versus a basket of 6 major currencies to 82.78.

Tue, 05 Jun 2012 19:00:22 GMT

ISM services PMI, stock indices slightly up

The Institute for Supply Management announced that Non-Manufacturing Purchasing Managers' Index rose 0.2, to 53.7 in May from 53.5 in April. Economists predicted the index to reach 53.6 last month. Any figure above 50.0 indicates industry expansion, below indicates contraction. On this news stocks climbed. Dow Jones Industrial Average added 0.10%, S&P 500 gained 0.33% and Nasdaq Composite rose 0.46%.

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