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Friday, March 8, 8:53 AM Canada adds 51K jobs in February, smoking expectations for a gain of 8K, and against January's loss of 21.9K. The unemployment rate remained at 7% as more entered the job force (opposite of the U.S.). The greenback is higher against everything this morning ... except the loonie (FXC), which gains 0.3% to $0.9743. Comment! [Global & FX]
Wednesday, January 23, 10:08 AM The Bank of Canada fires a shot in the currency wars, holding its benchmark rate at 1% and calling the chance of higher rates "less imminent." The loonie slides 40 pips, now -0.5% and buying $1.0036. FXC -0.4%. Comment! [Global & FX, Breaking News]
Friday, November 2, 2012, 10:24 AM Canada added1.8K jobs in October against expectations for a 5K increase, and a far cry from gains of 52.1K and 34.3K the previous 2 months. The unemployment rate held steady at 7.4%. Economist Matthieu Arseneau notes the private sector has actually shed 12K jobs over the last 6 months, but the government has added 76K. "With earnings (down), we no not expect a hiring spree anytime soon." 1 Comment [Global & FX]
Wednesday, October 31, 2012, 3:34 PM The loonie attempts to recover from an early dive caused by an unexpected 0.1% contraction in Canada's August GDP. "This was no fluke," says BMO's Nesbitt Burns, as a 0.5% decline in goods production drove the negative print. At a 3-month low, the loonie currently buys nearly exactly $1. The TSX is an outperformer today, +0.6% as perhaps any residual hawkishness from the BoC is wiped away. Comment! [Global & FX]
Thursday, June 21, 2012, 1:37 PM Bank of Canada Governor warns much of the relative health of his country's economy is the result of "debt-fuelled household expenditures," as he praises this morning's tightening of mortgage lending rules. He again says higher rates are coming, the timing not yet set. Toronto, -2%, leads to the downside today, maybe on the new mortgage rules, or maybe because commodities are getting beat up. Comment! [Global & FX]
Tuesday, June 5, 2012, 5:30 PM An outlier today is Canada, the TSX +1.5% after the BoC left rates unchanged and - in its accompanying statement - seemed to back down from a lot of recent hawkish talk. Add Canadian shares to the long list of global stocks running behind the S&P in 2012. Comment! [Global & FX]
Tuesday, May 15, 2012, 1:38 PM "Canada's business cycle bounce appears to have run its course," says BAML's Neil Dutta, expecting recent strong macro data to become less so. He takes note of the country's curious terms of trade hit - its eastern half importing expensive Brent crude, while the west exports cheaper WTI. Bottom line: Reduce exposure to Canadian risk assets and increase holdings of fixed income. 1 Comment [Global & FX]
Friday, May 11, 2012, 8:37 AM Canada adds 58.2K jobs in April (82.3K previous), far stronger than estimates for 7K. The unemployment rate rises to 7.3%, inline. The loonie flies higher, rising to parity with the greenback. Comment! [Global & FX]
Friday, May 4, 2012, 10:13 AM Canada's Ivey PMI for April dives to 52.2 from 65.0 previously, and against expectations for 61.0. The loonie tumbles 0.5%, but remains above parity with the greenback at $1.0071. It's the latest in a string of weakish numbers from up north and may cease rumblings from the BoC about rate hikes. 1 Comment [Global & FX]
Monday, April 30, 2012, 9:22 AM More on Canada GDP: The Feb. decline - the worst print in more than 2 years - comes as mining and oil & gas extraction declined 1.6%, led by a 7% decline in mining, led by a 19% decline in Potash mining - a dive surely telegraphed by weak Q1 sales of the fertilizer reported by Potash (POT) and Mosaic (MOS). Improvement, however, is on the way, says Mosaic. Comment! [Global & FX, Commodities]
Monday, April 30, 2012, 8:42 AM Canada February GDP -0.2% vs. +0.2% expected, +0.1% previous. Y/Y +1.6%, +1.7% previous. The loonie - recently going strong thanks to talk of rate hikes by the BoC - takes a tumble, -0.6% to $1.0142. Comment! [Global & FX, Breaking News]
Thursday, April 26, 2012, 9:34 AM The loonie remains at its highest level since September, buying $1.0165 as the Bank of Canada continues to signal rate hikes in the not-to-distant future and the Fed remains on "permanent hold," says SocGen's Kit Juckes. FXC +3.6% YTD. Comment! [Global & FX]
Tuesday, April 24, 2012, 4:09 PM Higher policy rates may become appropriate, says BoC Governor Carney, testifying before the House of Commons, and again setting the stage for tighter monetary policy in the near future. The loonie remains higher against the dollar, buying $1.10120. FXC +0.3%. Comment! [Global & FX]
Tuesday, April 24, 2012, 8:49 AM Canada's February retail sales unexpectedly decline 0.2%, the first fall since July. In volume terms, sales declined 0.6%. The fall comes amidst recent hawkish talk from the BoC and analyst expectations of rate hikes this year. The loonie quickly slides 20 pips to $1.0087. Comment! [Global & FX]
Monday, April 23, 2012, 12:27 PM "Almost a 51st state, but with a much better currency and a much more prudent government and central bank," says David Rosenberg on growing client interest in investing in Canada. Rosenberg sees a series of rate hikes by the BoC while the Fed remains on hold - giving the country and the loonie an even greater yield advantage. 6 Comments [Global & FX, Quick Ideas]
Friday, April 20, 2012, 8:56 AM Canadian inflation slows to 1.9% Y/Y in March from 2.6% in February, and vs. expectations for 2%. The core rate was 1.9%, down from 2.3%, and inline with forecasts. Comment! [Global & FX]

CNDA IQ Canada Small Cap ETF

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IQ Canada Small Cap ETF