TORONTO (Reuters) – The Canadian dollar weakened against the greenback on Friday after domestic data showed the economy stalled in July, further dampening prospects of a another interest rate hike by the Bank of Canada next month. Speculators have raised bullish bets on the loonie to the highest since November 2012, data from the U.S. […]
Canada’s merchandise trade deficit widened in August as exports fell for the third consecutive month, the latest sign that the country’s economic boom of the first half of the year has cooled. Statistics Canada reported that the country posted a merchandise trade deficit of $3.4-billion in August, compared with $3-billion in July. The August shortfall […]
Moody’s Analytics calls it “mortgage meltdown math”, but the subsidiary of the ratings agency paints an ugly picture of what could happen to the Canadian economy if everything goes wrong in the housing market. A report from Moody’s economist Brendan LaCerda says total outstanding credit to the non-financial sector is well above international averages with […]
The Canadian dollar weakened sharply against the U.S. currency on Monday as a Bank of Canada policymaker said the currency’s strength will be a factor in future rate decisions. Bank of Canada Deputy Governor Timothy Lane said the central bank, which has hiked rates twice since July, will “be taking that (stronger Canadian dollar) into […]
The Canadian dollar continues to show limited movement in the Thursday session. Early in the North American session, USD/CAD is trading at 1.2204, up 0.25% on the day. On the release front, inflation indicators are the focus on both sides of the border. In Canada, the New Housing Price Index gained 0.4%, above the forecast […]
ST. JOHN‘S, Newfoundland (Reuters) – The Canadian dollar’s recent sharp gain in value is a clear reflection of the country’s economic strengths, Finance Minister Bill Morneau told Reuters in an interview on Tuesday. “My view is that the economy is showing continued strength even at our current dollar valuation,” he said. The Canadian dollar has […]
OTTAWA (Reuters) – The Bank of Canada struck back on Monday against criticism it had not adequately prepared markets for last week’s rate hike after a prominent economist took issue with the central bank’s lack of communication in the nearly two months leading up to the move. The unusual defense was spurred by a research […]
The Bank of Canada has gone back to the future. For the past decade, traders have been conditioned to expect central banks to both telegraph policy tweaks ahead of time and offer a thorough rationalization of those shifts at the time of implementation. Canada’s central bank provided neither when hiking its benchmark rate to 1 […]
Toronto – Canada’s economy should see “above-potential growth” through to the end of the year, says the latest RBC Economic Outlook. In a statement, RBC says “consumer spending, business investment and government spending are all” behind the economy’s fast-paced growth. In fact, consumer spending could “remain the key driver of growth in 2017.” RBC Economic […]
The Canadian dollar strengthened on Thursday to a 2-year high against its U.S. counterpart as the market weighed prospects of additional Bank of Canada interest rate hikes and the greenback lost ground against a basket of major currencies. The Bank of Canada struck a more confident approach to economic growth on Wednesday with its second […]