FXC: CurrencyShares Canadian Dollar Trust ETF Instablogs

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Friday, May 17, 9:38 AM Did the Fed tighten while we were getting a cup of coffee? The greenback is soaring against all other currencies, with the dollar bull ETF (UUP) gaining 0.6% - an unusually large move for that vehicle. Strength against the yen (FXY -0.3%) and the aussie (FXA -0.9%) are givens of late, but the greenback is up about 1% vs. both the loonie (FXC) and the swissie (FXF), and about 0.6% vs. the euro (FXE) and cable (FXB). Getting hit are Treasurys (TLT -0.5%), the dollar bear ETF (UDN -0.6%) and of course, gold (GLD -0.7%). 5 Comments [Global & FX]
Friday, May 10, 8:46 AM Canada adds 12.5K jobs in April, just shy of expectations for 15K. The unemployment rate remained at 7.2%. The loonie (FXC) weakens a little further, -0.4% vs. the greenback and buying $0.9894. Comment! [Global & FX]
Thursday, May 9, 3:06 PM The dollar (UUP +1%) is soaring across the board (not just against the yen, where it's now spiked through ¥100 to ¥100.56). The greenback is threatening parity vs. the aussie (FXA -1.1%) for the first time since last summer, and the euro (FXE -1.1%), swissie (FXF -1.4%), loonie (FXC -0.5%), and pound (FXB -0.6%) are seeing sizable declines as well. Commodities? Red. Gold (GLD -1.1%), Silver (SLV -1.2%), Oil (USO -0.6%), Copper (JJC -0.8%). 5 Comments [Global & FX, Commodities, On the Move]
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]
Friday, May 3, 3:33 PM Canada's surprise choice of Stephen Poloz to replace Mark Carney as BOC governor "sends a fuzzy signal," says Moody's, suggesting the move means the government wants more control over monetary policy. Given the success of Mark Carney, the Harper government's decision to look past his deputy and front-runner Tiff Macklem means it won't be "business as usual" at the BOC. The loonie (FXC) is unfazed. Comment! [Global & FX]
Saturday, April 27, 8:55 AM Staking the fate of his hedge fund on a large short of Canadian banks (BMO, BNS, RY, CM) and the loonie (FXC), Vijai Mohan's arguments of a property price bubble fueled - in part - by an emerging markets growth bubble aren't unfamiliar ones. A third leg: That the country's banks are the world's best capitalized is a falsity, owing to a required "risk-weight" of just 9.9% on mortgages (the U.S. is 35% minimum, Australia 15-20%, Europe 20%). Should regulators impose a higher rate (it's under discussion), the nation's lenders would be forced to raise capital and/or reduce dividends. 15 Comments [Financials, Global & FX]
Wednesday, April 17, 10:25 AM The Bank of Canada holds its benchmark rate steady at 1%, as expected. Also expected, the bank shaves its 2013 GDP growth outlook to 1.5% vs. a previous estimate of 2%. The cut is slightly more than economists' forecasts. The economy is now expected to reach full capacity in mid-2015 vs. an earlier hope for January 2015. The loonie (FXC -0.7%) remains lower, buying $0.9733. Comment! [Global & FX]
Monday, April 15, 2:42 PM Another popular position unwound today is the yen short trade, with much of the move coming in the past 90 minutes. The dollar (UUP) is off a full 1% vs. the yen (FXY +1.2%), but surging against most all other units. Particularly noteworthy are the "commodity currencies" - the aussie (FXA -1.6%), the loonie (FXC -1%). 1 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]
Friday, April 12, 7:41 AM The aussie (FXA) and the loonie (FXC) are about to get reserve currency status from the IMF which in Q3 will begin separately identifying them in official reserve holdings data. The move will allow the BOC and RBA to match the Fed, BOJ, and BOE in whatever monetary printing scheme they can conjure up. That's just a joke - the designation reflects a rise in international holdings of the 2 currencies. Comment! [Global & FX]
Friday, April 5, 8:48 AM Canada posts bleak jobs numbers as well, losing 55K jobs in March vs. expectations for a gain of 9K. The unemployment rate climbs to 7.2% vs. 7% expected and 7% previously. The loonie (FXC) disappears, -0.8% and buying $0.9793. Comment! [Global & FX]
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, March 6, 10:34 AM The Bank of Canada holds policy steady, its benchmark lending rate remaining at 1%. The statement has a dovish tilt though, the bank saying "considerable monetary stimulus currently in place will likely remain appropriate for a period of time." The loonie (FXC) tumbles, -0.6% and buying $0.9678. 1 Comment [Global & FX, On the Move]
Friday, February 8, 8:39 AM Canada has a big miss on January jobs, losing 21.9K vs. expectations of a 5K gain. The unemployment rate drops to 7% vs. 7.2% expected, as the number of those looking for work declined. The loonie (FXC -0.3%) dives, now below parity with the greenback at $0.9971. 1 Comment [Global & FX, Breaking News, On the Move]
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!
Wednesday, February 6, 12:43 PM Canada's January Ivey Purchasing Manager's Index jumps to 58.9 vs. expectations of 53.6 and December's 52.8. Employment rose to 53.8 after contracting in December. Supplier deliveries rose to 55.8, also after contracting in December. Last week's RBC PMI read barely edged up. Comment! [Global & FX]

FXC CurrencyShares Canadian Dollar Trust ETF

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CurrencyShares Canadian Dollar Trust ETF