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IQ Canada Small Cap ETF (CNDA)

  • May 9, 2014, 8:42 AM
    • The loonie heads south as Canada reports a loss of 29K jobs in April vs. expectations for a gain of 12K. March saw 42.9K jobs added.
    • The unemployment rate is unchanged at 6.9%.
    • The Canadian dollar is currently buying $0.9190, down 0.5% on the session.
    • FXC -0.4% premarket
    | Comment!
  • Apr. 30, 2014, 8:58 AM
    • Real GDP grew 0.2% in February, slower than January's 0.5% gain, but inline with expectations.There had been ideas January's pop would be revised lower, but it didn't materialize. December's originally reported 0.5% decline was revised to just 0.4%.
    • The loonie adds a few basis points, now just marginally lower against the dollar on the session and buying $0.9130.
    • Previously: U.S. GDP growth revised sharply lower
    | Comment!
  • Apr. 16, 2014, 10:42 AM
    • Leaving its benchmark lending rate at 1% for the 29th consecutive meeting, the Bank of Canada gives its blessing to a weaker currency, noting the lower Canadian dollar "should provide additional support" to the country's exporters.
    • The loonie (FXC) is off 0.2% and buying $0.9091 after the policy statement.
    | Comment!
  • Apr. 4, 2014, 9:04 AM
    • The loonie (FXC) gets jiggy - up 0.6% and buying $0.9117 - after Canada reports 42.9K jobs added in March, about doubling forecasts, and bouncing from 7K jobs lost in February. The unemployment rate ticked down to 6.9% from 7% previously.
    • Canada ETFs: EWC, CNDA, EWCS, FCAN
  • Mar. 18, 2014, 4:16 PM
    • He says the decision is family-related, but not in any way to do with his health. "This was a decision I made with my family earlier this year, as I will be returning to the private sector."
    • In an interview late last month, Flaherty said he had not decided whether he would run in the next elections.
    • The loonie isn't responding, though it is sharply lower on the session after dovish comments from BOC Governor Poloz.
    | Comment!
  • Mar. 18, 2014, 2:51 PM
    • The loonie slides - reclaiming an almost 5-year low vs. the greenback - after what's being interpreted as a dovish speech from BOC Governor Stephen Poloz. He expects a "soft" first quarter, but then a couple of years of speedy growth. Longer-term, however, an aging population will drive up savings and sap demand. "The growth trajectory that we converge on after the recovery period will be slower than our historical trend, and it will also be associated with lower equilibrium rates of interest."
    • FXC -0.8%.
    • Canada ETFs: EWC, CNDA, EWCS, FCAN
    | Comment!
  • Mar. 7, 2014, 8:36 AM
    • There's a big miss in Canada's February jobs number, with payrolls falling 7K vs. expectations of a 15K gain. The unemployment rate is flat at 7%.
    • The loonie (FXC) tumbles, -0.7% vs. the greenback at $0.9045.
    | Comment!
  • Mar. 3, 2014, 11:40 AM
    • Manufacturing activity picked up in February, the RBC Canadian Manufacturing PMI rising to 52.9 from 51.7. Among the subindexes, New Orders saw growth, but at a slower pace, falling to 52.6 from 52.9 - the weakest pace in six months, with the Supply Chain Management Association noting the particularly weak pace of export sales (even with the sliding loonie?).
    • The loonie (FXC -0.2%) remains lower, with events overseas more likely driving the action today.
    | Comment!
  • Mar. 3, 2014, 9:37 AM
    • “I’ve been talking with clients and writing about how the housing market is overvalued,” says Pimco's Ed Devlin, who oversees Canadian investments for the firm. “The change this year would be that I actually think it starts this year.”
    • Bill Gross' $237B Total Return Fund (ETF version: BOND) had about 2% of its portfolio in Canadian debt at last report vs. 4% a year earlier.
    • Not the first to point to a bubbly Canadian housing market, Devlin is looking for a gradual decline over the next 2-5 years, not a sudden collapse, and sees "buy the dip" opportunities in the loonie (FXC) which has already fallen sharply vs. the greenback over the last 18 months.
    | 1 Comment
  • Feb. 28, 2014, 11:11 AM
    • The loonie (FXC +0.5%) is having a big session after upward revisions to Q2 and Q3 GDP growth and a strong early Q4 print. On the downside - while October and November looked strong - December shows a contraction of 0.5%. Statistics Canada blames the weak December number on the harsh winter's effect on retail sales which fell 2.1%. Canada? Harsh winter? Seriously?
    • Overall, Q4 GDP growth at an annualized pace of 2.9% follows 2.7% in Q3, 2.2% in Q2, and 2.9% in Q1. For the year, GDP grew 2% vs. expectations of 1.7%.
    • "While today’s GDP report is a bit of a mixed bag, the bigger picture is that the Canadian economy looks to have had better momentum than widely appreciated through much of 2013,” says BMO's Doug Porter.
    • Related ETFs: EWC, CNDA, FCAN, EWCS
    | Comment!
  • Feb. 7, 2014, 10:49 AM
    • The loonie's (FXC +0.5%) having a good session after Canada added 29.4K jobs in January, surpassing expectations for 20K. The unemployment rate slipped to 7% from 7.2%.
    • "Today's solid comeback represents a nice recovery from the ugliness in last month's Canadian employment report," says BMO's Doug Porter. He reminds the 7% unemployment rate is unchanged from a year ago - job growth is only keeping up with labor force growth.
    • The TSX is flat on the session.
    • Related ETFs: EWC, CNDA, FCAN, EWCS
    | Comment!
  • Jan. 31, 2014, 8:51 AM
    • Canadian GDP rose an inline 0.2% in November - the 5th consecutive month of growth and up 2.6% Y/Y - but it's not halting the slide in the loonie (FXC) which is now down 0.5% and buying just $0.8916, the lowest amount since the summer of 2009.
    • The Canadian unit has been in a bear market since the start of 2013, with the move accelerating in the past few months amid a string of weak economic data and plenty of government types saying they're welcoming of the move. A general move out of emerging currencies spreading to commodity currencies is further speeding the decline in 2014.
    • Canada ETFs: EWC, CNDA, FCAN, EWCS
    | Comment!
  • Jan. 22, 2014, 10:07 AM
    • "Inflation is expected to remain well below target for some time, and therefore the downside risks to inflation have grown in importance," says the bank, maintaining its benchmark overnight lending rate at 1%, but clearly considering easier policy down the road.
    • The loonie (FXC -0.3%) takes out another multi-year low, now buying $0.9062, and at its weakest vs. the greenback in about four years.
    • Related ETFs: EWC, FXC, CAD, CNDA, FCAN, EWCS
  • Jan. 14, 2014, 10:42 AM
    • The loonie (FXC -0.7%) slips to new multi-year lows with dovish comments from junior finance minister Kevin Sorenson as good of an excuse as any to sell a few more.
    • "The manufacturing sector (is) quite pleased that we have a [Canadian] dollar that the value is down from what it was a number of months ago ... there is remarkable opportunity. We’re an exporting country and as you know by far the majority of everything we manufacture here and everything we grow here we export and so there’s opportunity.”
    • The loonie was briefly boosted yesterday after the Bank of Canada's business outlook saw positive signs for the economy, but those gains and more have been erased in today's session.
    • Last Friday: Ugly December jobs report for Canada
    • Related ETFs: EWC, FXC, CAD, CNDA, FCAN, EWCS
  • Jan. 10, 2014, 10:58 AM
    • Canada unexpectedly reported a loss of 45.9K jobs this morning and a big jump in the unemployment rate to 7.2%. Today's action means the country has essentially created zero net new jobs in the last six months, writes Paul Vieira.
    • What if headline Canadian unemployment were calculated the way it is in the U.S.? The country's UE rate would be 5.8%, says Vieira. Cue the rate hike chatter!
    • Canada ETFs: EWC, FXC, CAD, CNDA, FCAN, EWCS
  • Jan. 10, 2014, 9:09 AM
    • The loonie quickly dives to new multi-year lows vs. the greenback after Canada reports a loss of 45.9K jobs in December and a 0.3 point rise in the unemployment rate to 7.2%. Consensus had called for a gain of 14K jobs.
    • FXC -0.6% premarket and the loonie is buying just $0.9146 - the least since mid-2009.
    • Canada ETFs: EWC, FXC, CAD, CNDA, FCAN, EWCS
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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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