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iShares MSCI Canada ETF (EWC)

- NYSEARCA
  • Wed, Aug. 19, 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%.
    | 1 Comment
  • Fri, Aug. 7, 8:56 AM
    | Comment!
  • Mon, Jul. 27, 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.
    • ETFs: EWC, CNDA, EWCS, QCAN, FCAN, HEWC
    | 15 Comments
  • Wed, Jul. 15, 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.
    • ETFs: EWC, CNDA, EWCS, QCAN, FCAN, HEWC
    | 25 Comments
  • Thu, Jun. 11, 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.
    • ETFs: FXC, EWC, CNDA, EWCS, QCAN, FCAN
    | Comment!
  • Fri, Jun. 5, 8:34 AM
    | 1 Comment
  • Fri, May 29, 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.
    • ETFs: EWC, CNDA, EWCS, QCAN, FCAN
    | 11 Comments
  • Wed, May 27, 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
    | Comment!
  • Tue, May 12, 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
    | Comment!
  • Fri, May 8, 8:59 AM
    • The 19.7K job loss follows March's 28.7K gain, and stands against expectations for a loss of just 5K. The unemployment rate remained flat at 6.8%.
    • The loonie is volatile, but - for the moment - right about where it stood prior to the U.S. and Canadian jobs reports, up 0.25% on the session to $0.8268.
    • ETFs: EWC, CNDA, EWCS, QCAN, FCAN
    | 1 Comment
  • Fri, Apr. 17, 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
    | Comment!
  • Wed, Apr. 15, 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
    | 1 Comment
  • Fri, Apr. 10, 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
    | 2 Comments
  • Tue, Apr. 7, 3:37 PM
    • WIth its 0.8% gain today, the TSX Composite is in the green for the fourth consecutive day, the longest such streak in two months. The index is ahead by 2.3% during the four-day stretch.
    • The gains come alongside oil's big rally, up another 3.1% today to $53.76 - the highest level of 2015.
    • The iShares MSCI Canada Index (EWC +0.5%).
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    | Comment!
  • Tue, Mar. 31, 8:38 AM
    | 1 Comment
  • Mon, Mar. 30, 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
    | Comment!
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EWC Description
The iShares MSCI Canada Index Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Canadian market, as measured by the MSCI Canada Index.
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Country: Canada
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