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Canada & The Canceling of its Currency
Canada & The Canceling of its Currency QUESTION #1: If Canada is not a dictatorship, how can Trudeau cancel the dollar? How can he do so in secret? RW QUESTION #2: Why can’t Biden follow Trudeau and cancel the dollar? EH ANSWER: The answer lies in the difference in history. Because the paper currency called bills-of-credit back then […]
Loonie Tumbles As Bank Of Canada Capitulates
Loonie Tumbles As Bank Of Canada Capitulates Add The Bank of Canada to the list of flip-flopping central banks as it has now fully abandoned its bias toward raising interest rates as the economy grapples with a slowdown, bringing its policy into line with the Fed. “Governing Council judges that an accommodative policy interest rate continues […]
Loonie Tumbles After Canadian Retail Sales Crumble
Loonie Tumbles After Canadian Retail Sales Crumble Amid the absence of US macro data due to the shutdown, it seems Canada (and China) are making up for it – by crushing the goldilocks dream. Canada retail sales fell 0.9% to C$50.4B in November, according to Statistics Canada (which did not need to ask the US […]
Loonie Slumps As Bank Of Canada Folds On Economic Enthusiasm
Loonie Slumps As Bank Of Canada Folds On Economic Enthusiasm Amid near-record-low Canadian crude prices and a housing crisis, The Bank of Canada appears to have finally given up its narrative that ‘everything is awesome’. The BoC walked back much of its enthusiasm about the nation’s outlook in a decision that kept interest rates unchanged, […]
Loonie Slides As Canadian Officials Reportedly Doubt NAFTA Deal Will Get Done
Loonie Slides As Canadian Officials Reportedly Doubt NAFTA Deal Will Get Done Despite outwardly optimistic appearances from Canada’s Freeland, talks between Canadian and U.S. trade negotiators reportedly turned sour last night and Trudeau government officials are now expressing concern that a final NAFTA deal will not be concluded on Friday. “That was a long, intensive […]
Bank of Canada Hikes Rates By 25bps, Loonie Rises On Hawkish Take
Bank of Canada Hikes Rates By 25bps, Loonie Rises On Hawkish Take The Bank of Canada raised the overnight rate by 25bps to 1.5%, in line with consensus estimates. In justifying the move, the Bank said it expects the global economy to grow by about 3.75% in 2018 and 3.5% in 2019, adding that the […]
Loonie Tumbles As Canadian Retail Sales Crashed In December
Loonie Tumbles As Canadian Retail Sales Crashed In December But, but, but… it was Christmas!! Canadian retail sales have come out and they are shockingly low – even after bad weather and higher rates on big ticket items had kept surveys particularly low for December. The headline print was -0.8% MoM (expectations were for no […]
Loonie Tumbles After Dovish Bank of Canada Hikes By 25bps, Warns Of NAFTA Uncertainty
Loonie Tumbles After Dovish Bank of Canada Hikes By 25bps, Warns Of NAFTA Uncertainty As expected by a broad majority of economists, the Bank of Canada just hiked its overnight rate by 25bps to 1.25%, the first hike by a G-7 central bank in 2018. In raising the rate, the BoC said that “recent data […]
“Loonie Longs Are Set For A Painful Dose Of Reality”: Trader
“Loonie Longs Are Set For A Painful Dose Of Reality”: Trader Is all hell about to breaks loose for Loonie longs? Yesterday, Bank of America released a note titled simply enough “CAD longs at risk”, in which it said that “according to our liquid cross border flow (LCBF) data, hedge funds and real money now […]
Are Petrocurrencies Heading For Extinction?
Are Petrocurrencies Heading For Extinction? Petrocurrencies are breaking away from their traditional tight link to oil prices, but all it would take for this link to return is for prices to fall bellow their current range. This seems to be the general consensus among bankers interviewed by Bloomberg’s Natasha Doff and Anna Andrianova. The change […]
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 […]
Bank of Canada keeps benchmark interest rate at 0.5%
Bank of Canada keeps benchmark interest rate at 0.5% Central bank’s rate has impact on rates offered by commercial banks for loans and savings accounts The Bank of Canada, lead by governor Stephen Poloz, kept its benchmark lending rate at 0.5 per cent on Wednesday. (Adrian Wyld/Canadian Press) Canada’s central bank stood pat today, electing […]
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. […]
Fruit and vegetable prices hike overall food costs
Fruit and vegetable prices hike overall food costs Food prices increased by four per cent over the year, largely because of the low loonie According to the Consumer Price Index, food prices increased by four per cent from Jan. 2015 to Jan. 2016. But fresh vegetables alone were up 18 per cent. For example, just […]
Gold price over $1,200 has bullion buyers sure rally will continue
Gold price over $1,200 has bullion buyers sure rally will continue Price of bullion is rising fast, especially when converted into Canadian currency Gold has outperformed almost every single other asset class as an investment this year. Many backers of the precious metal say the rally is just getting started. (Frantzesco Kangaris/Bloomberg) Bad news for […]
