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iShares MSCI Canada ETF (EWC)

  • Oct. 22, 2014, 11:24 AM
    • The loonie (NYSEARCA:FXC) has reversed earlier retail sales-related losses and turned slightly higher vs. the greenback after the Bank of Canada stays on hold, but warns over bubbly housing markets in Ontario, Alberta, and British Columbia.
    • “Housing activity has been more robust than anticipated, buoyed by continued very low mortgage rates and exhibiting strength beyond a rebound from weather-depressed levels earlier in the year," says the bank. "Sales of existing homes have picked up noticeable since the beginning of the year, to a four-year high … This is contributing to sizable increases in house prices."
    • In other news, the bank has canceled its post-meeting press conference as the Canadian parliament goes on lockdown after a shooting at the National War Memorial. This video shows police exchanging gunfire inside a Parliament Hill building.
    • The TSX Composite is lower by 0.8%. EWC -0.6%
    • Previously: Disappointing Canadian retail sales sends loonie even lower
    | Comment!
  • Oct. 22, 2014, 9:14 AM
    • Pulled down by lower gasoline prices, and sales of new cars and food, Canadian retail sales fell 0.3% in August vs. a forecast of no change. It's the 2nd consecutive monthly drop in retail sales.
    • After removing the effect of price changes - particularly for gasoline - retail sales in volume terms slipped 0.1%.
    • Time to book that trip to Whistler? The news sends the loonie (NYSEARCA:FXC) lower by 60 basis points, now off 0.6% on the session and buying just $0.8861.
    | 1 Comment
  • Oct. 14, 2014, 3:53 PM
    • Down 1.3% today amid tumbling energy prices, Canada's S&P/TSX is now off more than 10% from a high hit on September 11. The index is dominated by energy and materials stocks - a combined weighting of 71% - good news in a strong global economy, and bad news when oil drops $15 per barrel in a month.
    • Earlier, the IEA slashed its estimate for global oil demand and crude is down more than 4% on the session to the lowest in over two years.
    • The MSCI Canada Index ETF (EWC -1.1%) is off a similar amount to the TSX over the same time frame. Five of its top-10 holdings are banks, but beyond that there's a lot of energy and materials.
    | Comment!
  • Oct. 1, 2014, 10:19 AM
    • The 53.5 read in the September RBC Canadian Manufacturing PMI compares to August's 54.8, and is the lowest print since June. The Q3 average for the index was 54.2.
    • RBC's Craig Wright: "As we progress into the final months of 2014, we expect a further strengthening in the U.S economy will augment Canadian exports and set the stage for solid manufacturing business conditions overall."
    • The loonie (NYSEARCA:FXC) is up 0.2% on the session following the miss in the U.S. ISM.
    • Stocks (NYSEARCA:EWC) in Toronto are lower by 0.5%.
    | Comment!
  • Sep. 30, 2014, 8:48 AM
    • Canadian GDP was flat in July vs. expectations for 0.2% growth, and June's 0.3% gain. Annually, GDP grew 2.5% vs. expectations for 2.8% growth, and June's 3.1%.
    • The loonie (NYSEARCA:FXC) weakens by about 30 pips vs. the dollar, now -0.25% and buying just $0.8935.
    | Comment!
  • Sep. 19, 2014, 8:59 AM
    • The pace of core inflation in Canada popped to 2.1% in August from 1.7% in July. On a monthly basis, core inflation rose 0.5%, the fastest pace since May, and ahead of expectations for a 0.2% gain.
    • The Bank of Canada's forecast is for inflation to average 1.7% in Q3 and 1.8% in Q4.
    • The loonie (NYSEARCA:FXC) is ahead by 0.4% and buying $0.9178.
    • Canada equity ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    | Comment!
  • Sep. 5, 2014, 10:42 AM
    • Canadian employment declined by 11K in August vs. expectations for a gain of 10K. The unemployment rate held steady at 7%.
    • Looking into the details shows a pretty shocking loss of 111.8K private sector jobs last month, offset by a 14K gain in public sector employment and a gain of 86.9K in self-employed workers.
    • Over the last year, Canada has added a total of 81.3K jobs, for an average of 6.8K per month.
    • The loonie (NYSEARCA:FXC) is moderately lower following the news, -0.1% and buying $0.9184.
    | Comment!
  • Sep. 2, 2014, 9:42 AM
    • The RBC Canadian Manufacturing Purchasing Managers Index rose to 54.8 in August from 54.3 in July. It's the highest read for the gauge since November of last year.
    • "August data pointed to the most marked increase in new work from abroad since March, with a number of manufacturers attributing the rise to greater spending by clients in the U.S."
    • The loonie (NYSEARCA:FXC) remains lower by 0.3% on the session to $0.9170.
    | Comment!
  • Aug. 15, 2014, 11:29 AM
    • Canada's employment picture goes from dismal to something quite a bit different as Statistics Canada corrects a "human error" from its employment report last week, revising jobs gained to 42K from just 200. Expectations were for a rise of 20K.
    • "This was an isolated incident," says the agency's top statistician.
    • The loonie surged higher on the revised print, but has given up those gains and more as equity markets worldwide drop amid events in Ukraine. The Canadian dollar is currently lower by a hair at $0.9166.
    | Comment!
  • Aug. 12, 2014, 3:59 PM
    • Last Friday's employment report said a meager 200 jobs had been created in July, and it caused a quick tumble in the loonie (NYSEARCA:FXC). Statistics Canada today says an error has been detected and corrected and a new report will be released this coming Friday.
    • Weaker earlier in the session, the loonie has bounced back to flat and is essentially at the same level it was at prior to last Friday's weak print.
    | Comment!
  • Jul. 2, 2014, 10:20 AM
    • The RBC Canadian PMI rises to 53.5 in June from May's 52.2, the best print since December. Among the subindexes, both Output and New Orders rose at their sharpest pace this year.
    • RBC's Craig Wright: "We expect that those conditions will further improve going forward supported by a strengthening global economy, increases in external demand for domestic goods and a depreciating Canadian dollar."
    • A depreciating Canadian dollar indeed - despite the big print, the loonie is lower by 0.3% to $0.9378.
    | Comment!
  • Jun. 25, 2014, 10:40 AM
    • iShares MSCI Canada ETF (EWC) announces semi-annual distribution of $0.2346.
    • 30-Day SEC yield of 2.25% (as on 05/31/2014).
    • Payable July 2; for shareholders of record June 27; ex-Div. June 25.
    | Comment!
  • Jun. 20, 2014, 10:11 AM
    • The loonie (FXC) is higher by 0.5% and buying $0.9290 after Canada's all-items CPI rose 2.3% Y/Y in May vs. expectations for a 2% gain. The core rate of 1.7% was faster than estimates for 1.5%.
    • The print is likely to boost pressure on the Bank of Canada to alter an inflation outlook currently worried more about downside risks. On the other hand, the bank and its Governor Stephen Poloz could - as the Fed seemingly has done - brush the figure off as noise.
  • Jun. 12, 2014, 12:04 PM
    • Each ETF will track a single developed market and hold firms that have performed well in various market conditions and offer investors value while featuring low volatility.
    • SPDR MSCI Australia Quality Mix ETF (QAUS), SPDR MSCI Canada Quality Mix ETF (QCAN), SPDR MSCI Germany Quality Mix ETF (QDEU), SPDR MSCI Japan Quality Mix ETF (QJPN), SPDR MSCI Spain Quality Mix ETF (QESP), and SPDR MSCI United Kingdom Quality Mix ETF (QGBR) all launched this morning when the market opened.
    • All of the quality ETFs feature an expense ratio of 0.30%.
    • Other ETFs following the selected 6 countries: EWU, FKU, DXPS, DBUK, EWP, DXJ, EWJ, NKY, DBJP, EZJ, EWV, JPNL, ITF, JPP, JPNS, HEWJ, FJP, EWG, DBGR, DXGE, FGM, HEWG, EWC, FCAN, EWA, AUSE, FAUS
    | Comment!
  • Jun. 6, 2014, 8:52 AM
    • Canada adds 26K jobs in May, roughly inline with consensus forecasts for 25K, and up from last month's loss of 29K jobs. The unemployment rate ticked higher to 7% from 6.9%.
    • The loonie (FXC) remains little-changed on the session, buying $0.9149.
    | Comment!
  • Jun. 4, 2014, 10:17 AM
    • The loonie (FXC -0.3%) slides about 30 pips to $0.9128 after the Bank of Canada leaves its benchmark policy rate at 1%, but says the recent faster-than-expected rise in inflation to near the 2% target is largely the result of temporary factors like energy prices and pass-through from the weakening currency. "The downside risks to the inflation outlook [is] as important as before."
    • As for global growth: " Recent developments give slightly greater weight to downside risks."
    | 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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