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Loonie Soars After Bank Of Canada Unexpectedly Hikes Rates By 25 bps
Loonie Soars After Bank Of Canada Unexpectedly Hikes Rates By 25 bps With only 6 of 33 forecasters predicting a rate hike in today’s Bank of Canada announcement, it was inevitable: the Bank of Canada surprised a good 75% of the market, and triggered massive stop loss orders in the looni, when moments ago it […]
Canada’s Goods Producing Sector Caves
Canada’s Goods Producing Sector Caves Exports get blamed, despite the crushed loonie. Many countries, including the US, report GDP on a quarterly basis. Canada reports on a monthly basis. So today Statistics Canada reported GDP for October. What’s disconcerting isn’t so much that GDP fell 0.3% on a monthly basis – these things happen – though it […]
Loonie Tumbles After Canadian Inflation, Retail Sales Plunge
Loonie Tumbles After Canadian Inflation, Retail Sales Plunge A slew of disappointing data out of Canada has sent the Loonie tumbling this morning (despite higher oil prices). Canadian Retail Sales and Inflation data missed across the board… Multi-year lows in CPI, Core CPI, and Retail Sales… And the result is a tumbling Loonie as expectations of […]
It was not a Merry Christmas for Canadian retailers
It was not a Merry Christmas for Canadian retailers December’s retail sales slump was the worst in seven years, however, the weak demand from consumers didn’t stop retailers from raising prices again (up +2% the past year). I think retailers are adjusting prices to reflect higher import costs, courtesy of a much depreciated Canadian dollar. […]
Canada Rebels against the Destruction of the Loonie
Canada Rebels against the Destruction of the Loonie The fear of “currency instability.” “Without precedent” — that’s what National Bank of Canada’s chief economist Stéfane Marion called the wholesale destruction of the loonie. The Canadian dollar is in a tailspin. Rarely has it tumbled so far so fast, and against so many currencies. The steepness of […]
Canadian Stocks in Bear Market, Loonie Swoons, Crude Crashes to $16, Consumer & Business Confidence Dives…
Canadian Stocks in Bear Market, Loonie Swoons, Crude Crashes to $16, Consumer & Business Confidence Dives… “Investment and hiring intentions lowest since 2009”: Bank of Canada Since Christmas Eve, the Toronto Stock Exchange index has dropped every single day, 10 trading days in a row, including so far today as I’m writing this, the longest […]
Canadian dollar dips below 71 cents for 1st time since 2003
Canadian dollar dips below 71 cents for 1st time since 2003 Oil and threat of global conflicts weigh on risky loonie The Canadian dollar is dropping to levels not seen since the summer of 2003. (Pawel Dwulit/Bloomberg) The Canadian dollar lost more than half a cent this morning, pushed down by oil prices and widespread […]
WTI Plunges To $35 Handle As Loonie Hits 12 Year Low
WTI Plunges To $35 Handle As Loonie Hits 12 Year Low WTI Crude prices just broke back to a $35 handle for the first time since mid-December as the combination of un-growth, Saudi price cuts, a rancorous OPEC, and production increases weigh on the world’s most important commodity. At the same time, oil producers are getting […]
Looney Plunges As Canadian GDP Collapses Most Since 2009
Looney Plunges As Canadian GDP Collapses Most Since 2009 Who could have seen that coming? It appears, for America’s northern brethren, low oil proces are unequivocally terrible. Against expectations of a flat 0.0% unchanged September, Canadian GDP plunged 0.5% – its largest MoM drop since March 2009 and the biggest miss since Dec 2008. With Canada’s housing […]
Enjoy Canada’s low dollar while you can: Don Pittis
Enjoy Canada’s low dollar while you can: Don Pittis There’s not much you can do about the low loonie, so just look on the bright side The low Canadian dollar is hurting John Stiles at Calgary-based Planet Foods. His company distributes natural foods and healthy snacks across Canada. The cost of his U.S. imports is […]
Plunging loonie means inflation in store: Don Pittis
Plunging loonie means inflation in store: Don Pittis Falling Canadian dollar means there are bargains to be had, but not for long Taking a shortcut through an underground mall yesterday, I saw a couple who looked like Pan Am visitors ogling the low price of jewelry outside a little downtown Toronto shop. Normally, we think of U.S. prices being cheaper […]
Canadian dollar dips below 77 cents for first time since 2009
Canadian dollar dips below 77 cents for first time since 2009 As strong U.S. dollar helps push loonie to 6-year low, analyst sees possible drop to 73 cents The Canadian dollar fell below 77 cents against the U.S. dollar on July 17, 2015. (Mark Blinch/Reuters) The Canadian dollar dropped to below 77 cents against the U.S. […]
Manufacturing in Canada Sags, Triggers Chilling References to Financial Crisis
Manufacturing in Canada Sags, Triggers Chilling References to Financial Crisis It’s also happening in the US, but it’s much worse in Canada. In the US, May industrial production dropped “unexpectedly,” as it was roundly called on Monday, by 0.2%, according to the Federal Reserve. The index value has now dropped from month to month since December, […]
Just How Low Will The Loonie Go?
Just How Low Will The Loonie Go? The Canadian dollar fell to below 80 cents on Friday, battered by bad news at home and good news south of the border, leaving economists scrambling to predict just how low it could go. The loonie ended the week at 79.3 cents U.S., sinking after a report showed […]
TSX closes down 360 points as oil trades below $50 a barrel
TSX closes down 360 points as oil trades below $50 a barrel The Canadian dollar was lower Monday, dragged below the 85 cent US level because of continuing weakness in the price of oil, which dropped below $50 US a barrel for the first time since 2009. The plunging oil price hammered the Toronto Stock […]
