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Oil Producer’s Currencies Are Collapsing As Brent Breaks Below $40
Oil Producer’s Currencies Are Collapsing As Brent Breaks Below $40 Not helped by weakness in China trade data, questions over global growth and inflation expectations are growing. Oil-exporting nations (and growth-linked currencies) are getting monkey-hammered… Just when traders thought the bottom was in… As Reuters notes, with lower oil prices likely to add to global deflationary […]
Canada Just Warned That Negative Interest Rates Are Coming
Canada Just Warned That Negative Interest Rates Are Coming Moments ago, the Bank of Canada’s chief finally said what we had been patiently waiting for over the past several months: admission that Europe’s experiment with negative rates is about to cross the Atlantic. From Market News: BOC POLOZ: NOW SEES EFFECTIVE LOWER BOUND FOR POLICY RATE […]
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 […]
Forget China: This Extremely “Developed” Country Just Suffered Its Biggest Money Outflow Ever
Forget China: This Extremely “Developed” Country Just Suffered Its Biggest Money Outflow Ever While understandably all eyes have been fixed on every monthly capital outflow update from China (even the ones that the Politburo is clearly massaging), few have noticed that one of the biggest total outflows currently in the global developed economy is taking place right in America’s own […]
Canada’s Retail Prices Jump the Most in “Over a Decade”
Canada’s Retail Prices Jump the Most in “Over a Decade” When Statistics Canada released its July retail sales report today, it dished out a few unwelcome surprises – and a bombshell. Among the surprises, based on what economists – though perhaps not average Canadians – had expected: Growth in retail sales was a measly 0.5% in July; […]
For Canadian Oil Sands It’s Adapt Or Die
For Canadian Oil Sands It’s Adapt Or Die That low oil prices are squeezing out oil sands producers is not breaking news. But in spite of a grim oil price outlook, production out of Calgary has continued to grow, defying both expectations and logic. The implications are serious, not just for the future of Canada’s […]
Mede-Jean, Not Medellin
Mede-Jean, Not Medellin Driving the back streets of Medellin a few weeks ago I found it interesting to see the various little pockets to the city. In the poor parts of town I noticed on a couple of occasions taxi drives running their vehicles on empty. I’ve seen this before in countries where there is […]
GDP figures from Statistics Canada expected to show second-quarter contraction
GDP figures from Statistics Canada expected to show second-quarter contraction Lower loonie expected to boost economy in third quarter Economists say data out this week is likely to show that Canada slipped into a technical recession in the second quarter, but the contraction should be short-lived. “A number of positive elements are coming through,” said TD […]
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 […]
Canada “Getting Clocked” by Something Far Bigger than Oil
Canada “Getting Clocked” by Something Far Bigger than Oil Canada is likely in a technical recession, after the economy shrank for the first five months of the year. It’s heavily dependent on commodities. The oil bust and the broader commodity rout have been blamed liberally. The theory goes that the problem is contained. The oil […]
The Crisis Is Spreading: China, Australia, Brazil, Canada, Sweden…
The Crisis Is Spreading: China, Australia, Brazil, Canada, Sweden… Earlier today, we posted an excerpt from IceCap Asset Management’s latest letter to investors focusing on the farce that is the Greek bailout #3, which can be summarized simply by the following table… … and Keith Dicker’s assessment which was that “for Greece, it’s mathematically impossible to repay […]
Canadian dollar dips below 77 cents with more pain to come
Canadian dollar dips below 77 cents with more pain to come TD Bank predicts 73-cent loonie as effects of low oil linger The Canadian dollar is nearing its low for the year Friday, after news that the economy contracted for a fifth straight month in May. The loonie closed at 76.45 US cents, down half a cent from […]
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. […]
World Powers Reach Landmark Nuclear Deal With Iran, Oil Slides – Full Deal Text
World Powers Reach Landmark Nuclear Deal With Iran, Oil Slides – Full Deal Text It is only fitting that almost exactly 24 hours after the Greek “pre-deal”, which may and will end up crashing and burning in very short notice, another long expected “deal”, one which has been about a decade in the making, was […]
