Normand Faubert

The current Members are, in alphabetical order, as follows: Henry Ann (Tullett & Tokyo), Karl Berger (President of FMAC), Steve Boucouvalas (Republic National Bank), Rob Burgess (Toronto Dominion Bank), Normand Faubert (Laurentian Bank), David Gibbins (RBCDS), Mike Horrocks (CIBC Wood Gundy), Lee Kachroo (ABN-Amro), Brad Meredith (Hongkong Bank), Tim Noël (CFEC Chair, Bank of Canada), Martin Ouellet (National Bank), Jamie Thorsen (Bank of Montreal), Barry Wainstein (Bank of Nova Scotia), Rob Wittmann (Chair of CCFP).

The yield for 10-year U.S. treasuries reached 4.46 percent Tuesday," said Normand Faubert, vice-president of foreign exchange trading at Laurentian Bank of Canada.That yield stood at 4.44 percent on Wednesday afternoon.Faubert said a decline by U.S. bonds since June attracted investors, and this gave a boost to the U.S. dollar."There is a good dose of uncertainty in the U.S. economy, which is not sustainable in the long term," he said."If we don't have good GDP and unemployment data in the U.S. on Thursday and Friday, this will help the Canadian dollar strengthen."He also said that investors were neutral after news on Wednesday that Canada's economy grew by 0.1 percent in May, defying expectations of a flat showing.The Canadian currency kept to a range between C$1.3876 and C$1.3950 to the U.S. dollar in the early part of Wednesday's session, ahead of the GDP data.That was slightly wider than the overnight range of between C$1.3837 and C$1.3858.BONDS RALLY Domestic bond prices rallied as investors celebrated stronger Canadian GDP figures and showed sympathy for the surge by U.S treasuries."There is a certain rally, but it is less spectacular than in the United States.It is rallying in sympathy with the American market," Faubert said.

Normand FaubertVice President, Currency Risk Management

Normand has worked in the foreign exchange market for 18 years.He acquired his experience with Canadian and foreign banks in Montreal and Toronto.Before joining Monexia, Normand was Vice President, Foreign Exchange and International Services at Laurentien Bank, where he led a team of 14 people in sales and arbitrage activities relating to foreign exchange, as well as those products relating to letters of credit.Normand holds a Bachelor of Commerce in finance from HEC Montreal.