Posts Tagged ‘Canadian’
While all eyes this morning are on the US Non-Farm Payrolls report, quietly north of the border Canada issued a dismal report earlier this morning. The Canadian economy was expected to have added 15K jobs and it lost 54K, pushing the unemployment rate higher to 7.3% from an expected 7.1%.
This caused immediate Loonie weakness as there [...]
Source: ForexYard
A clear correlation between this afternoon’s data from Canada can be seen on today’s economic calendar. News released by Statistics Canada today regarding its consumer price index (CPI) and retail sales underscores the country’s economic stand-point.
Canada’s CPI, both nominal and core, revealed a sharp decline in consumer inflation suggesting a downturn in the price [...]
Source: ForexYard
Following last week’s article on the Canadian housing sector asking, “Is it Time to Buy a House in Canada?” traders were subjected to yet more data which offers a nudge to answer in the affirmative. Today’s report on housing starts by the Canada Mortgage and Housing Corporation (CMHC) revealed far more Canadians are beginning [...]
In April, I wrote a post entitled, “Economic Theory Implies Canadian Dollar will Fall,” in which I argued that the currency’s impressive rise was belied by fundamentals. It seems the gods of forex read that post; since then, the Loonie has fallen 3% against the US dollar alone. Based on my [...]
Source: ForexYard
The Canadian dollar (CAD) has been stagnating this week with much of the economic news out of Canada appearing flat. Today’s New House Price Index (NHPI) released by Statistics Canada, as an example, revealed 0% growth in the price of new homes purchased this past month by Canadians.
The data did not represent market contraction, [...]
Now that the uncertainty that comes with the constant threat of defeat of the previous minority government has been set aside for at least the next four to five years, the Canadian dollar is quickly establishing itself as a top choice for investors. Canada has had a succession of minority governments over the past seven [...]
Sometimes I wonder if I’m living in the clouds. All of my recent reports on the Canadian dollar were twinged with pessimism, and I argued that it would only be a matter of time before reality caught up with theory. While the continued surge in commodities prices has confounded everyone’s [...]
The Canadian Dollar (“Loonie”) recorded a fairly strong 2010. It appreciated 5.5% against the US Dollar, as an encore to a 16% gain in 2009. Moreover, its rise occurred with remarkably little volatility, fluctuating within a tight range of $0.99 – $1.08 (CAD/USD. It total, it rose against “seven of its major peers,” and “gained [...]
Inflation remains contained
Interest rate differential could add to CAD upside; that is a particular concern given CAD strength
Monetary policy should remain highly accomodative
Sees 2011 growth of 2.3%, down from 3.0% in 2010
After a stellar 2009, the Canadian Dollar (”Loonie”) has had a relatively lackluster 2010 against the Dollar, rising by only 3-4%. As the Loonie has inched (back) towards parity, it has encountered significant resistance. I think there is reason to believe that the currency has reached its limit, and that there are little prospects for [...]
