CurrencyShares Canadian Dollar Trust ETF

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  • Sep. 1, 2015, 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.
    | Sep. 1, 2015, 10:08 AM | 5 Comments
  • Aug. 24, 2015, 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.
    | Aug. 24, 2015, 2:23 PM
  • Aug. 21, 2015, 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%).
    | Aug. 21, 2015, 11:12 AM | 12 Comments
  • Aug. 19, 2015, 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%.
    | Aug. 19, 2015, 12:29 PM | 1 Comment
  • Aug. 11, 2015, 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.
    | Aug. 11, 2015, 7:44 AM
  • Aug. 7, 2015, 8:56 AM
    | Aug. 7, 2015, 8:56 AM
  • Jul. 27, 2015, 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.
    | Jul. 27, 2015, 3:51 PM | 15 Comments
  • Jul. 15, 2015, 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.
    | Jul. 15, 2015, 10:22 AM | 25 Comments
  • Jun. 11, 2015, 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.
    | Jun. 11, 2015, 3:21 PM
  • Jun. 5, 2015, 8:56 AM
    | Jun. 5, 2015, 8:56 AM
  • Jun. 5, 2015, 8:34 AM
    | Jun. 5, 2015, 8:34 AM | 1 Comment
  • May 29, 2015, 8:41 AM
    • It's the first quarterly contraction in Canada's economy in four years, and the largest decline since the 2009 recession. Economists had forecast an expansion of 0.3%.
    • Alongside this weak print, Q4's 2.4% expansion was revised down to 2.2%.
    • Behind Q1's disappointing number is a 9.7% plunge in business gross fixed capital formation as companies reacted to the crash in oil prices. Support activities for mining and oil/gas extraction fell 30%.
    • The loonie (NYSEARCA:FXCsinks 0.5% on the news, now buying just eight-tenths of an American dollar.
    | May 29, 2015, 8:41 AM | 11 Comments
  • May 27, 2015, 10:09 AM
    • Maintaining its benchmark overnight rate at 0.75%, the Bank of Canada says the economic outlook hasn't changed a whole lot from last month. Like the rest of the professional economist class, the PhD's at the BOC expect a rebound in economic growth south of the border in Q2, which should benefit Canada's export sector.
    • "Recent indicators suggest consumption in Canada is holding up relatively well, given the impact of lower oil prices on gross domestic income."
    • The loonie (NYSEARCA:FXC) remains marginally lower on the session, buying $0.8028.
    | May 27, 2015, 10:09 AM
  • May 26, 2015, 1:44 PM
    • Europe's dealing with the usual worries about Greece and weekend election gains by the anti-austerity party in Spain may have some wondering about contagion. The Stoxx 50 ETF (NYSEARCA:FEZ) is lower by 2.9% as Monday's loss across the pond combines with Tuesday.
    • This morning, a trio of economic reports - durable goods, home prices, and new home sales - beat expectations, giving another boost the greenback.
    • The dollar's higher by 1% vs. the euro (NYSEARCA:FXE), yen (NYSEARCA:FXY), loonie (NYSEARCA:FXC), and aussie (NYSEARCA:FXA), and somewhat less vs. cable (NYSEARCA:FXB) and the Swiss franc (NYSEARCA:FXF). Buying ¥122.95, the greenback is at an 8-year high vs. the yen.
    • UUP +1.15%, UDN -1%
    | May 26, 2015, 1:44 PM | 11 Comments
  • May 22, 2015, 8:55 AM
    • Core CPI rose 0.3% in April, the fastest pace since January 2013. Forecasts had been for just a 0.1% gain. Over the last 12 months, core CPI was up 1.8% in April, the same as March.
    • The overall CPI was higher by 0.1% in April and lower by 0.2% year-over-year.
    • The dollar bull ETF (NYSEARCA:UUP) is up 0.4% after the news. Against individual currencies, the greenback jumped about 100 pips vs. the euro (NYSEARCA:FXE), with similarly-sized moves vs. the aussie (NYSEARCA:FXA), loonie (NYSEARCA:FXC), swissie (NYSEARCA:FXF), yen (NYSEARCA:FXY), and cable (NYSEARCA:FXB).
    | May 22, 2015, 8:55 AM | 3 Comments
  • May 12, 2015, 10:20 AM
    • First there was ZIRP, then there was QE, and now there's the scrapping of decades-old inflation targets. Are we getting the message yet (bond markets over the past month look like they have)?
    • Newish Bank of Canada Governor Stephen Poloz already surprised markets with a rate cut in January, and now - according to a Bloomberg article - is considering raising the bank's 2% inflation target. The argument in favor: Canada's growth potential has been cut by slowing global demand, meaning a high chance interest rates get stuck near zero, thus limiting the central bank's options in the even of another crisis.
    • The argument against in a nutshell: The bank would be institutionalizing stagflation.
    | May 12, 2015, 10:20 AM
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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