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CurrencyShares Canadian Dollar Trust ETF (FXC)

  • Yesterday, 9:07 AM
    • Q3 GDP grew an inline 2.3%, but the monthly read for September showed a 0.5% contraction - the largest monthly decline since the height of the financial crisis. Economists had expected no change for September.
    • Among the possible reasons for the quick slowdown were a fire curbing oil production in Alberta, and the shutdown of a unit by Nexen Energy.
    • Up nicely on the session ahead of the print, the loonie is now modestly lower, buying $0.7479.
    | Yesterday, 9:07 AM | Comment!
  • Fri, Nov. 20, 10:55 AM
    • The government cuts its 2015 GDP forecast to 1.2% from 2% - considering the date, this is more tracker than forecast at this point. 2016 is lowered to 2% from 2.2%.
    • The government is also forecasting budget deficits for the next four years, including a $3B deficit this year vs. a previous forecast for a surplus.
    • Caveat: The new liberal government of Justin Trudeau has just taken charge from the conservatives. These updated forecasts could be considered the equivalent of a new CEO "kitchen-sinking" quarterly results in order to make everything in the future look better.
    | Fri, Nov. 20, 10:55 AM | 1 Comment
  • Wed, Oct. 21, 10:10 AM
    • As expected, the Bank of Canada leaves its benchmark overnight rate target at 0.5%. The accompanying statement leans dovish, with the bank noting growth in the near-term is likely to come in towards the low end of estimates.
    • Also mentioned are "financial vulnerabilities in the household sector" continuing to edge higher.
    • The loonie (NYSEARCA:FXC) gives up another 20 pips, now off 0.6% on the session to $0.7657. Stocks in Toronto are lower by 0.25%.
    | Wed, Oct. 21, 10:10 AM | Comment!
  • Tue, Oct. 6, 10:35 AM
    | Tue, Oct. 6, 10:35 AM | 2 Comments
  • Fri, Oct. 2, 8:54 AM
    | Fri, Oct. 2, 8:54 AM | 16 Comments
  • Tue, Sep. 1, 10:08 AM
    • The country's GDP slipped 0.1 in Q2 following a 0.8% contraction in Q1 - technically putting Canada in a recession in H1.
    • Reported alongside the quarterly number today, was GDP for June alone, and it rose 0.5%.
    • Turning back to Q2 as a whole, the mining, quarrying, and oil and gas extraction sector contracted 4.5%, with a 5.7% decline in the non-conventional oil extraction industry, and a 18% fall in support activities for mining, oil and gas extraction.
    • On the positive side (or negative if you're a property bubble believer), housing continues strong, with output of real estate agents and brokers up 9.9%.
    • Perhaps focusing on the strong June number, the loonie (NYSEARCA:FXC) gained on release of the report, and is now back to flat on the session.
    • Stocks in Toronto are lower by 2% in early action.
    | Tue, Sep. 1, 10:08 AM | 5 Comments
  • Mon, Aug. 24, 2:23 PM
    • The Canadian dollar (FXC -0.5%) hit an 11-year low today and the country’s bond yields dropped to their lowest ever amid today's worldwide market rout, to 1.3199 per U.S. dollar before rebounding a bit to 1.3235, as the price of crude oil, a significant Canadian export, tumbles to fresh six-year lows, with the Brent benchmark sliding below $43.50/bbl and WTI crude dipping below $39.
    • "Oil has reached multi-year lows and that’s taking the loonie lower, and it’s also pricing in some risk of an additional rate cut from the Bank of Canada over the coming year," says Bipan Rai, director of forex strategy at CIBC World Markets.
    • The market has more than doubled odds since Friday that the Bank of Canada will cut its benchmark interest rate next month, according to Bloomberg calculations based on overnight index swaps.
    • Meanwhile, Canadian government bonds are benefiting from a global flight to safer assets, pushing Canada's benchmark 10-year yield as low as 1.2% and the five-year bond to 0.53%, both record lows.
    | Mon, Aug. 24, 2:23 PM | Comment!
  • Fri, Aug. 21, 11:12 AM
    • The October Fed Funds futures contract is edging higher again today, and at 99.79 is just seven basis points lower than the August contract - meaning less than a one-in-three chance of a 25 basis point rate hike in September. The January contract is up to 99.675, putting the odds of a 25 point move anytime this year at just 75%.
    • One has to go all the way out to August 2016 to see 50 basis points of rate hikes priced in.
    • Alongside the reduced expectations of tighter policy, the dollar (UUP -0.8%), (UDN +0.6%) has fallen to a two-month low. For all the talk about "king dollar" this year, the greenback has been in a fairly clear downtrend since the start of the spring. It's still up about 3.5% on the year.
    • As for today's action, the biggest gainers vs. the dollar are the euro (FXE +1.1%), yen (FXY +0.9%), and swissie (FXF +0.6%).  Still losing ground are the commodity currencies - the loonie (FXC -0.7%) and aussie (FXA -0.2%).
    | Fri, Aug. 21, 11:12 AM | 12 Comments
  • Wed, Aug. 19, 12:29 PM
    • The EIA earlier reported a surprise jump in crude inventories, and oil is down 4.2% to a new bear-market low of $40.86.
    • The resulting selloff in the loonie (FXC -0.7%) has that unit able to buy just $0.7595, the weakest since 2004.
    • The TSX 200 is down 1.05%, but EWC - priced in greenbacks - is off 1.8%.
    | Wed, Aug. 19, 12:29 PM | 1 Comment
  • Tue, Aug. 11, 7:44 AM
    • The aussie (NYSEARCA:FXA) is lower by 1.2% vs. the dollar at $0.7322 after the currency of its key trading partner was devalued by 2% overnight. Stocks in Sydney fell 0.7%.
    • "It seems the export numbers over the weekend were the final straw [for Beijing], says a Westpac currency strategist.
    • Checking another commodity currency, the loonie (NYSEARCA:FXC) is lower by 0.4% vs. the greenback, though it had been down as much as 1% following China's move.
    | Tue, Aug. 11, 7:44 AM | Comment!
  • Fri, Aug. 7, 8:56 AM
    | Fri, Aug. 7, 8:56 AM | Comment!
  • Mon, Jul. 27, 3:51 PM
    • Stocks in Toronto are off 1.45% just ahead of the bell, their 7th-consecutive day of losses. Energy and raw materials producers are among the leading decliners as the Bloomberg Commodity Index falls yet again, hitting a 13-year low.
    • Also getting socked are the banks, led by Scotiabank's (NYSE:BNS2.4% drop and TD Bank's (NYSE:TD1.9% fall.
    • The loonie (NYSEARCA:FXC) is flat, and its lowest level since the height of the global financial panic in early 2009.
    | Mon, Jul. 27, 3:51 PM | 15 Comments
  • Wed, Jul. 15, 10:22 AM
    • Stephen Poloz surprises markets for the 2nd time this year, delivering another rate cut in Canada, this time slashing the overnight rate 25 basis points to 0.5%.
    • The 2015 growth estimate for Canada "has been marked down considerably" from the April projection, says the bank in its statement, and real GDP is expected to have contracted in H2.
    • The bank does expect above-trend growth to return in Q4.
    • Real GDP will grow by just over 1% this year and about 2.5% in 2016 and 2017, says the bank.
    • The loonie (NYSEARCA:FXC) tumbles 1.4% to $0.7749.
    | Wed, Jul. 15, 10:22 AM | 25 Comments
  • Thu, Jun. 11, 3:21 PM
    • "We will happily admit we don’t have a full reading on the oil-price shock yet,” says Bank of Canada Governor Stephen Poloz, coming awfully close to using a phrase not thought to be in formally-trained economists' vocabulary: "I don't know."
    • “Do projects get postponed or canceled? Those are things we can’t predict. In many ways, we will be monitoring this shock for some time."
    • Poloz made his comments following a central bank report saying lower oil prices had combined with high levels of household debt and bubbly home prices to slightly increase the risk to financial stability up North.
    • Real GDP slumped at an annualized pace of 0.6% in Q1, the worst quarterly performance since the economic recovery began.
    | Thu, Jun. 11, 3:21 PM | Comment!
  • Fri, Jun. 5, 8:56 AM
    | Fri, Jun. 5, 8:56 AM | Comment!
  • Fri, Jun. 5, 8:34 AM
    | Fri, Jun. 5, 8:34 AM | 1 Comment
FXC Description
CurrencyShares Canadian Dollar Trust is designed to track the price of the Canadian Dollar net of Trust expenses, which are expected to be paid from interest earned on the deposited Canadian Dollars.
See more details on sponsor's website
Country: Canada
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