MONTREAL, QUEBEC--(Marketwire - Nov. 9, 2011) - (TSX:NA) - According to the November 2011 issue of the prestigious Bloomberg Markets magazine, the Economy and Strategy Group of National Bank Financial is ranked among top foreign exchange forecasters.
National Bank Financial was, in fact, ranked first in one category and second in another for the accuracy of its currency forecasting.
This comparative ranking is a compilation of the most accurate forecasts by financial institutions of fluctuations in the U.S. dollar, relative to other currencies. The greenback's performance was compared to that of the yen, the euro, the Swiss franc, and the pound sterling.
The reference period for the ranking consisted of the six consecutive quarters ended June 30, 2011.
This latest recognition of National Bank Financial's economic and financial expertise follows that achieved by Chief Economist and Strategist Stéfane Marion, who ranked second on Bloomberg's May 2011 Top Forecasters of Canadian Economy list.
Bloomberg Markets ranked National Bank Financial in first place in the pound-dollar forecasters category.
National Bank Financial earned this spot for having forecast the appreciation in the British pound with a margin of error of only 2.85%. During the reference period, the value of the pound rose 1.6% against the greenback.
Moreover, National Bank Financial placed second worldwide in the euro-dollar forecasting category, quite a feat considering the prevailing market conditions.
National Bank Financial had predicted with a margin of error of 6.12% that the euro would appreciate against the U.S. dollar. On June 30, 2011, the greenback had depreciated by 14% relative to the euro, according to the U.S. Dollar Index.
About National Bank Financial
With annual revenues exceeding $1 billion, National Bank Financial is a fully-integrated investment dealer combining retail advisory and brokerage services with institutional brokerage, investment banking, corporate finance, and securities clearing for third parties. National Bank Financial has 123 branches located across the country, and services more than 300,000 clients.. Its Financial Markets division has a major presence in Toronto, Calgary, Vancouver and Montreal, as well as operations in the United States and Europe.
About National Bank of Canada
National Bank of Canada is an integrated group that provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has over $153 billion in assets and, together with its subsidiaries, employs 19,217 people. The Bank's securities are listed on the Toronto Stock Exchange (TSX:NA). For more information, visit the Bank's website at www.nbc.ca. To access National Bank's financial education portal, visit www.clearfacts.ca.
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