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iShares MSCI Canada Index ETF

5/24/2013, 3:48 AM ET

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Wednesday, May 8, 2:52 PM The recent selloff in commodities (DBC) is not a correction, says Stan Druckenmiller, now on stage at Ira Sohn, but instead the end of the supercycle. Avoid commodity markets - Brazil (EWZ, BRF, BRL), South Africa (EZA, SZR), Canada (EWC, FXC). "Frankly, I'd short the aussie (FXA)." His largest equity holding? "I can't imagine a better position than Google (GOOG)" - selling for 16x earnings and no exposure to China. 4 Comments [Quick Ideas]
Wednesday, April 24, 8:55 AM Cautious on Canadian stocks of late, Desjardins Capital's Ed Sollbach is taking advantage of the TSX's 7.3% decline over the last 6 weeks to put money to work, particularly in the materials and energy sectors hard-hit be the big decline in commodity prices. EWC has underperformed the S&P 500 by nearly 1,700 bps YTD. Comment! [Global & FX]
Monday, April 15, 10:02 AM Underperforming today as commodities (DBC -1.7%) take a beating is Canada, the TSX -1.5%. Also seeing little love is the loonie (FXC -0.6%). The move in the MSCI Canada Index ETF (EWC -2.4%) reflects both the loss in shares and the currency. EWC is now off 5% YTD, trailing the S&P 500 by 1500 basis points. Comment! [Global & FX, On the Move]
Wednesday, April 3, 5:33 PM A new CIBC report estimates Canada lost $25B in unrealized revenues last year and will continue to lose $15B/year going forward until it addresses its inability to efficiently get its oil to foreign markets. Most critical is building a controversial pipeline to the British Columbia coast to get oil to Asia; Shell today submitted plans to build a $4B pipeline and gas export terminal at Kitimat to environmental regulators. Comment! [Energy]
Wednesday, April 3, 12:14 PM Todays' selloff in commodities has Canada underperforming again, the TSX -1.4% and now about flat on the year vs. a near 10% gain for the S&P 500. Canada - as represented by EWC - and the U.S. have been on divergent paths since late in 2011, with the S&P outperforming by about 3400 basis points since then. Comment!
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]
Thursday, February 7, 4:02 PM A look beneath the hood of Schwab's (SCHW) recently unveiled lineup of 105 commission-free ETFs shows an impressive breadth of asset class coverage, including currency, physical metals and equal-weight sector ETFs not previously available for commission-free trading. Notably absent: iShares single country funds, 10 of which are available among the 101 ETFs TD Ameritrade (AMTD) offers commission-free. Comment!
Friday, February 1, 11:44 AM Canada's January PMI edges up to 50.5 from 50.4 previously, with Production notable by moving into expansion territory after contracting the past two months. Employment stayed above 50, but fell to its slowest rate of expansion in a year. Help may be on the way - after spending much of the last few months buying more than $1, the loonie has fallen back to parity with the greenback. Comment! [Global & FX]
Thursday, January 31, 8:36 AM Canada's November GDP +0.3% M/M vs. expectations of +0.2%, and +0.1% in October; +1.3% Y/Y vs. expectations of 1.4%. Manufacturing output turned around, rising 0.7% in November following a 0.9% drop previously. The loonie is little-changed, right around parity with the greenback. 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]
Tuesday, January 22, 9:29 AM Canadian retail sales unexpectedly rose 0.2% in November vs. a forecast of flat. In volume terms - which feeds into GDP calculations - sales rose 0.8%. Showing a small loss in early trade, the loonie pops back to flat. Comment! [Global & FX]
Friday, January 4, 9:24 AM Canada reports a blowout payroll number, adding 40K jobs vs. an estimated of 5K. The unemployment rate slips to a 4-year low of 7.1% vs. 7.3% expected. This follows November's even-bigger blowout job gains of 59.3K. The loonie gains about half a cent vs. the greenback, now buying $1.0142. 6 Comments [Global & FX]
Wednesday, January 2, 9:55 AM Canada's December PMI is unchanged at 50.4, with the Q4 average coming in at 50.7, the lowest quarterly read in the short 2+ year history of the survey. "A weak global economy and a strong loonie have weighed somewhat on the broader sector," says RBC. Comment! [Global & FX]
Monday, December 31, 2012, 11:56 AM More details on iShares' ETF fee hikes: Going to 0.53% from 0.52% (a 1.9% hike) are its Ireland Capped Investable Market Fund (EIRL), Australia Fund (EWA), Canada Fund (EWC), Hong Kong Fund (EWH), Belgium Capped Fund (EWK), Switzerland Fund (EWL), Malaysia Fund (EWM), Netherlands Investable Market Fund (EWN), Spain Fund (EWP), France Fund (EWQ), Singapore Fund (EWS), United Kingdom Fund (EWU), Mexico Investable Market Fund (EWW) and EMU Fund (EZU). 2 Comments [Global & FX]
Monday, December 31, 2012, 8:47 AM More on the iShares price hikes: Mostly targeted for higher fees is the manager's line of single country ETFs - Brazil (EWZ), Japan (EWJ), Australia (EWA), Hong Kong (EWH), Canada (EWC), and Singapore (EWS), just to name a few of the more popular ones. 3 Comments [Global & FX]
Friday, December 21, 2012, 9:20 AM Canada's GDP grows just 0.1% in October, after flat-lining in September and contracting 0.1% in August. Seperately, the CPI fell to a 3-year low of 0.8% in November. We can probably forget about the mildly hawkish rhetoric from the BOC for awhile. Already lower on this "risk-off" morning, the loonie drops a bit more, -0.5% to $1.0074. Comment! [Global & FX]

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