CurrencyShares Canadian Dollar Trust ETF (FXC) - NYSEARCA
  • 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.
    • ETFs: EWC, CNDA, EWCS, QCAN, FCAN
    | 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%
    • ETFs: UUP, UDN, FORX, USDU
    | 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).
    • ETFs: UUP, UDN, UUPT, UDNT, FORX, USDU
    | 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.
    • ETFs: FXC, EWC, CNDA, EWCS, QCAN, FCAN
    | May 12, 2015, 10:20 AM
  • Apr. 29, 2015, 11:32 AM
    | Apr. 29, 2015, 11:32 AM | 1 Comment
  • Apr. 17, 2015, 9:27 AM
    • The CPI rose 1.2% Y/Y in March, up from 1% in February, and against 1% expected by forecasters. Core CPI jumped to 2.4% in March vs. 2.1% previously.
    • Retail sales rose 1.7% in February, after declining the previous two months.
    • The loonie (NYSEARCA:FXC) popped higher to its strongest level since mid-January, but has given back some of those gains. It's currently up 0.35% to $0.8237.
    • ETFs: EWC, CNDA, EWCS, QCAN, FCAN
    | Apr. 17, 2015, 9:27 AM
  • Apr. 15, 2015, 12:59 PM
    • "The bank's assessment is that the impact of the oil price shock will be more front-loaded than predicted in January, but not larger," says the Bank of Canada as it holds its policy rate steady at 0.75%.
    • For 2015, the BoC cut its GDP growth estimate to 1.9% from 2.1%, but 2016 is boosted to 2.5% from 2.4%.
    • Some economists have been expecting another rate cut later this year, but the vibe from this statement says the bank is somewhat more optimistic than it was just a few weeks ago.
    • The loonie (NYSEARCA:FXC) is up nearly 1% following the news, now buying $0.8085. Stocks in Toronto are higher by 0.75%.
    • ETFs: EWC, CNDA, EWCS, QCAN, FCAN
    | Apr. 15, 2015, 12:59 PM | 1 Comment
  • Apr. 10, 2015, 8:58 AM
    • Canada added 29K jobs in March versus expectations for zero jobs gained. The unemployment rate held steady at 6.8%, inline with forecasts.
    • Among the sectors which reported job gains was natural resources - this despite the crash in oil prices and anecdotal reports of cutbacks in the energy patch.
    • The loonie (NYSEARCA:FXC) strengthens about 50 pips to $0.7928, but remains lower on the session by 0.3%.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    | Apr. 10, 2015, 8:58 AM | 2 Comments
  • Mar. 31, 2015, 8:38 AM
    | Mar. 31, 2015, 8:38 AM | 1 Comment
  • Mar. 30, 2015, 8:59 AM
    • “In theory lower oil prices mean [putting] more money in consumers pockets, but . . . if an oil company cancels [an investment] project, laying off a worker, that guy will not have the money to buy a new pick-up truck. That spreads pretty quickly,” says Bank of Canada Governor Stephen Poloz in an FT interview. “The first quarter of 2015 will look atrocious, because the oil shock is a big deal for us."
    • Poloz has already unexpectedly cut interest rates thanks to oil's crash, and he says the bank has many options left, including so-called forward guidance (a pledge to hold rates low for a long time), as well as asset purchases.
    • The good news, says Poloz, is the sharp decline in the loonie, and he notes U.S. investment is "starting to fire on all cylinders," and manufacturing is rebounding. "We were losing a lot of the auto parts manufacturing to Mexico. That calculus has shifted."
    • ETFs: EWC, FXC, CNDA, EWCS, FCAN, QCAN
    | Mar. 30, 2015, 8:59 AM
  • Mar. 26, 2015, 3:33 PM
    • The fallout in the energy sector thanks to oil's steep decline is no secret, but beyond reduced headcounts and spending in the oil patch, says Nomura, are hits to related industries like construction and engineering.
    • While banks have low direct exposure to the oil sector, there's indirect exposure through things like mortgage-lending in Alberta.
    • Then there's the impact of the oil shock on the investment portfolios of Canadian households, says Nomura, estimating 25% of household wealth is linked to domestic stocks, and 25% of that is energy-related. Canada's stocks have already been underperformers this year and should things worsen further, it could squeeze consumer spending.
    • ETFs: EWC, FXC, CNDA, EWCS, FCAN, QCAN
    | Mar. 26, 2015, 3:33 PM | 1 Comment
  • Mar. 19, 2015, 8:04 AM
    • The PowerShares U.S. Dollar Bull ETF (NYSEARCA:UUP) is up 0.9% premarket after diving 2% yesterday following the Fed's surprisingly dovish outlook.
    • The euro is particularly weak, down 1.5% to $1.07 after climbing over $1.10 in very fast trade after the close yesterday. The pound (NYSEARCA:FXB) is down 0.6%, the yen (NYSEARCA:FXY0.5%, loonie (NYSEARCA:FXC1%, swissie (NYSEARCA:FXF1.3%, and aussie (NYSEARCA:FXA1.4%.
    • ETFs: UUP, UDN, UUPT, FORX, UDNT, USDU
    • Previously: Flash crash in the dollar (March 18)
    • Previously: Dollar off sharply as Fed slows rate hike estimates (March 18)
    | Mar. 19, 2015, 8:04 AM | 2 Comments
  • Mar. 18, 2015, 2:15 PM
    | Mar. 18, 2015, 2:15 PM | 1 Comment
  • Mar. 13, 2015, 10:30 AM
    • Another strong gain today in the dollar (UUP +0.6%) has pushed the dollar index through 100 for the first time since April 2003.
    • The greenback is up across the board, but particularly strong vs. the euro (FXE -0.9%), pound (FXB -1.1%), loonie (FXC -0.6%), and aussie (FXA -0.8%).
    • Alongside the rallying dollar, oil has erased its February bounce, and at $45.83 is now threatening to take out the bear market lows hit in late January. USO -2.8%
    | Mar. 13, 2015, 10:30 AM | 21 Comments
  • Mar. 6, 2015, 9:07 AM
    | Mar. 6, 2015, 9:07 AM | 1 Comment
  • Mar. 4, 2015, 10:05 AM
    • Following a surprise rate cut at its last meeting, the Bank of Canada today maintains its overnight rate target at 0.75%, and suggests it's satisfied for now that the one rate cut was enough.
    • "Financial conditions in Canada have eased materially since January, in response to the Bank’s recent monetary policy action and to global financial developments ... These conditions will mitigate the negative effects of the oil price shock, further boosting growth through stronger non-energy exports and investment."
    • The loonie (NYSEARCA:FXC) has strengthened somewhat, now higher by 0.1% at $0.8012.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    | Mar. 4, 2015, 10:05 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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