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Loonie Dips After Bank Of Canada Emergency Rate-Cut, Launches QE
Loonie Dips After Bank Of Canada Emergency Rate-Cut, Launches QE The Bank of Canada has just gone full-Fed-tard by slashing rates to just 0.2% and launching a commercial-paper-buying program and has committed to buy C$5bn Canadian Treasuries per week… Negative rates next? Full Bank of Canada Statement: The Bank of Canada today lowered its target […]
Loonie Spikes After Canadian Core Inflation Soars To 10-Year Highs
Loonie Spikes After Canadian Core Inflation Soars To 10-Year Highs Canadian inflation rose faster than expected in May across all eight major components, spiking the Loonie as it supports the BoC’s view that ‘the North’ is emerging from its growth slowdown (and Poloz argument that rates will need to go higher). The headline consumer price index jumped […]
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 Tumbles To 6-Week Lows After Inflation, Retail Sales Slump
Loonie Tumbles To 6-Week Lows After Inflation, Retail Sales Slump The loonie has tumbled to six-week lows (above 1.31/USD) following dismal prints for retail sales and inflation this morning. Against expectations of a 0.1% rise MoM, Canadian core retail sales slumped 0.4% MoM in August. This is the first drop in retail sales since 2017… […]
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 After Ugly Canadian Data: Worst Toronto Retail Sales In 3 Years
Loonie Tumbles After Ugly Canadian Data: Worst Toronto Retail Sales In 3 Years The synchronized economic slowdown has hit again, this time striking America’s latest trade war opponent, Canada, which moments ago reported some very ugly inflation and retail sales data. First, on the inflation front, Canadian CPI rose just 2.2% in May from 2.1% […]
Loonie Drops As Bank Of Canada Holds Rates (As Expected)
Loonie Drops As Bank Of Canada Holds Rates (As Expected) With Canadian economic data at its most disappointing in 20 months, domestic trade-wars over oil pipelines exploding, and a housing market on the verge of collapse, The Bank of Canada held rates unchanged (as expected), sending a weak signal that sparked Loonie selling… Bank of […]
Loonie Spikes As Canadian Consumer Prices Surge
Loonie Spikes As Canadian Consumer Prices Surge Oh, Canada… growth is stagnating, housing bubbles imploding, and now inflation is surging… Canadian Consumer prices surge 2.2% YoY (well above expectations of +1.9% and January’s +1.7% YoY) Core prices – which exclude more volatile items like energy and are considered a gauge of inflation pressures – inched […]
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 […]
Oh Canada! Part-Time Jobs Crash Most In History
Oh Canada! Part-Time Jobs Crash Most In History The Canadian job market has never lost more part-time jobs – ever – than in January… Canada’s unemployment rate rose to 5.9% as total job losses for January dropped the most since 2009, but it was the 137,000 collapse in part-time jobs that stands out. So what […]
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 […]
Bank of Canada Raises Interest Rates… Again
Bank of Canada Raises Interest Rates… Again For the second time in less than two months, the Bank of Canada has raised interest rates. On Wednesday, the central bank raised its overnight lending rate by a quarter per cent to 1 per cent. The move surprised many who weren’t expecting a rate increase until later […]
