IQ Canada Small Cap ETF(CNDA)- NYSEARCA
  • Wed, Jul. 13, 11:32 AM
    • As expected, the Bank of Canada leaves its overnight interest rate at 0.5%. Alongside that, the bank revised its 2016 GDP growth forecast to 1.3% from 1.7% expected in April. 2017 is cut to 2.2% from 2.3%.
    • BoC Governor Stephen Poloz had previously expected the country's economy to return to potential in H2 of 2017, but the bank now sees this as happening closer to the end of next year.
    • Despite the cuts, economists say the bank is presenting a mostly upbeat outlook, and note the bubbly housing market and core CPI consistently above 2%.
    • The loonie (FXC +0.3%) has gained strength since the news hit, now buying $0.7692. Stocks in Toronto are lower by 0.2%.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN, HEWC
    | Wed, Jul. 13, 11:32 AM
  • Mon, Jul. 11, 12:24 PM
    • Macquarie had previously expected Canada's central bank to begin raising rates in Q2 of 2018, but has now pushed that forecast out one year.
    • Noted by Macquarie analyst David Doyle is Canada's dependence on housing, and how that ties the hands of the central bank.
    • The upshot, says Doyle, is a widening of rate spreads between Canada and the U.S., where the Fed is expected to take a more aggressive approach to tightening monetary policy.
    • The Canadian dollar (NYSEARCA:FXC), of course, has spent most of this year strengthening against the greenback, buying $0.7621 today vs. about just $0.67 earlier in 2016.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN, HEWC
    | Mon, Jul. 11, 12:24 PM
  • Wed, Jun. 29, 5:12 AM
    • Looking to stress the importance of trade, leaders of the U.S., Canada and Mexico will meet today for the annual "Three Amigos Summit" at a time of mounting doubts about the benefits of globalization.
    • All three are part of the Trans-Pacific Partnership, the 12-nation trade deal President Obama had cast as an update to NAFTA.
    • Ahead of the gathering, Canada dropped its visa requirement for Mexican visitors as of December 2016, while Mexico agreed to open its markets to Canadian beef.
    • ETFs: EWW, FXC, EWC, MXF, MXE, CNDA, UMX, EWCS, DBMX, SMK, FCAN, QCAN, QMEX, HEWW, HEWC
    | Wed, Jun. 29, 5:12 AM | 6 Comments
  • Thu, Jun. 9, 4:18 PM
    • Bank of Canada Governor Stephen Poloz pointed to Vancouver and Toronto as two cities where borrowers are extending themselves in the hopes fast price rises will continue.
    • "We see a rate of price increase that would be very difficult to match up with any definition of fundamentals,” he said, following the release of the central bank's semiannual Financial System Review.
    • Home prices in Toronto gained nearly 13% in the year ended in April - nice, but child's play compared to the 25% rise in Vancouver.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN, HEWC, FXC
    | Thu, Jun. 9, 4:18 PM | 1 Comment
  • Mon, Jun. 6, 2:27 PM
    • Imperial Oil (IMO +1.2%) says it has restarted its Kearl oil sands mining operation after stalling production for nearly three weeks during Alberta's huge wildfire that threatened to damage major projects across the region.
    • Bank of Canada governor Poloz says it is hard to predict when the Canadian economy will rebound from the fire but figures perhaps a little more than half of the estimated loss of 1.25 percentage points off Canada's Q2 economic growth would be due to lost oil output.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    | Mon, Jun. 6, 2:27 PM
  • Tue, May 31, 9:08 AM
    • Canadian GDP grew 0.6% in Q1, or a 2.4% annualized pace. Expectations had been for 2.8%. On a year-over-basis, GDP grew 1.1% vs. the 1.4% estimate.
    • Exports were the largest contributor to GDP growth in Q1, up 1.7% following a 0.4% decline in Q4.
    • Up ahead of the number, the loonie (NYSEARCA:FXC) has weakened since. It's now lower by 0.2% to $0.7648.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN, HEWC
    | Tue, May 31, 9:08 AM
  • Wed, May 25, 10:10 AM
    • The loonie (NYSEARCA:FXC) is surging higher following the expected decision in which the bank left its overnight rate target at 0.5%.
    • In its statement, the BoC says the economy's adjustment to the oil price crash is ongoing, but uneven. While Q1 growth looks to be inline with the bank's expectations, business investment and intentions remain disappointing.
    • The bank expects the Alberta wildfires to shave a full 125 basis points from Q2 growth, and notes at least part of the big rebound in oil prices is due to short-term supply disruptions.
    • The Canadian dollar +0.5% vs. the greenback to $0.7657. Stocks in Toronto are higher by 0.6%.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN, HEWC
    | Wed, May 25, 10:10 AM
  • Tue, May 10, 4:28 AM
    • It is too early to assess precisely the economic impact of the Alberta wildfire, according to the Bank of Canada, adding that it will have more to say in its interest rate decision later this month.
    • Markets have ratcheted up the odds of a Canadian rate cut by year-end as the blazes disrupt oil production, but economists say the temporary interruption alone is unlikely to force the central bank's hand on May 25.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN, HEWC
    | Tue, May 10, 4:28 AM
  • Fri, May 6, 8:58 AM
    • Canada lost 2.2K jobs in April vs. expectations for a gain of 2K. The unemployment rate held steady at 7.1%. The economy added 41K jobs in March.
    • The greenback/loonie exchange rate has not just Canada's weak print to digest, but also America's sluggish numbers which came out at the same time. It's volatile, but currently the loonie (NYSEARCA:FXC) is weaker by 0.45%.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN, HEWC
    | Fri, May 6, 8:58 AM
  • Fri, May 6, 3:35 AM
    • The massive wildfire raging in Canada has grown to more than 300 square miles, increasing by ten-fold from Thursday.
    • The impacts of the blaze remain unknown, but initial estimates from economists suggest that production cuts in Alberta's oil sands could wipe out Canada's growth in the second quarter.
    • It is also seen as potentially costing up to $9B in insurance costs.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN, HEWC
    | Fri, May 6, 3:35 AM | 1 Comment
  • Wed, Apr. 13, 12:44 PM
    • As expected, the Bank of Canada left its benchmark overnight lending rate at 0.5%. The policy statement leans hawkish though: "It does appear that the positive forces at work in the economy are starting to outweigh those that are negative ... "First-quarter GDP growth appears to have been unexpectedly strong."
    • The loonie (NYSEARCA:FXC) shot higher following the news, but has since given back those gains and more. It's currently lower by 0.45% and buying $0.7804. Stocks in Toronto are joining the global rally, up 0.8%.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN, HEWC
    | Wed, Apr. 13, 12:44 PM | 4 Comments
  • Fri, Apr. 8, 8:41 AM
    | Fri, Apr. 8, 8:41 AM | 4 Comments
  • Thu, Mar. 31, 9:46 AM
    • Real GDP rose 0.6% in January, and was higher by 1.5% Y/Y. It was the fastest monthly GDP gain since 2013, and the quickest annual pace since February 2015. Economists had expected January growth of just 0.3%.
    • "Today's monthly GDP report is perhaps the most encouraging in recent memory," says TD Bank's Brian DePratto. Noting four straight months of GDP gains, BMO's Doug Porter says this isn't a "fluky rebound-type bounce."
    • Porter says the annualized GDP growth rate over the three months ended in January was 5%.
    • The loonie (NYSEARCA:FXC) adds further to this year's gains, up 0.6% on the session to $0.7761. In mid-January, the loonie was buying just $0.6866.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN, HEWC
    • Now Read: The Looniness Of The Canadian Loonie And Oil Sands (March 30)
    | Thu, Mar. 31, 9:46 AM | 2 Comments
  • Fri, Mar. 18, 8:41 AM
    • Retail sales up north rose 2.1% in January, blowing past expectations for just a 0.6% gain. The largest gain in dollar terms was a 4.8% advance for motor vehicle and parts dealers.
    • As for the provinces, sales rose in all eight after falling in seven of them in December.
    • The loonie (NYSEARCA:FXC) gains about 30 pips on the news, now ahead by 0.2% on the session to $0.7719.
    • ETFs: EWC, CNDA, EWCS, QCAN, FCAN, HEWC
    | Fri, Mar. 18, 8:41 AM
  • Fri, Mar. 11, 8:41 AM
    • The Canadian economy lost 2.3K jobs in February vs. consensus forecasts for a gain of 10K. The unemployment rate ticked up to 7.3% vs. expectations for it to hold steady at 7.2%.
    • Adding to the soft headline, full-time employment fell 51.8K while part-time gained 49.5K.
    • The loonie (NYSEARCA:FXC) sheds some its recent gains vs. the greenback, down 0.4% to $0.7521.
    • ETFs: EWC, CNDA, EWCS, QCAN, FCAN, HEWC
    | Fri, Mar. 11, 8:41 AM
  • Wed, Mar. 9, 1:33 PM
    • As expected, the Bank of Canada today held its benchmark overnight rate steady at 0.5%, but the statement didn't lean as dovish as some hoped. "The global economy is progressing largely as the bank anticipated in its January Monetary Policy report," says the BoC. "Financial market volatility, reflecting heightened concerns about economic momentum, appears to be abating."
    • In that January estimate, the bank forecast 1.5% GDP growth this year, and 2.5% in 2017. The bank's next guess is due on April 13.
    • The loonie (NYSEARCA:FXC) is higher by 1.15%. Alongside the aussie, it Canadian dollar has rallied materially since mid-January (perhaps they're leading indicators, as commodities didn't bottom until a month later).
    • Stocks in Toronto are higher by 0.75%.
    • ETFs: EWC, CNDA, EWCS, QCAN, FCAN, HEWC
    | Wed, Mar. 9, 1:33 PM
CNDA Description
The IQ Canada Small Cap ETF seeks to track, before fees and expenses, the performance of the IQ Canada Small Cap Index. The market cap-weighted Index seeks to provide investors with a means of tracking the overall performance of small cap Canadian companies.
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Country: Canada
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