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CurrencyShares Canadian Dollar Trust ETF (FXC)

- NYSEARCA
  • Thu, Mar. 26, 3:33 PM
    • The fallout in the energy sector thanks to oil's steep decline is no secret, but beyond reduced headcounts and spending in the oil patch, says Nomura, are hits to related industries like construction and engineering.
    • While banks have low direct exposure to the oil sector, there's indirect exposure through things like mortgage-lending in Alberta.
    • Then there's the impact of the oil shock on the investment portfolios of Canadian households, says Nomura, estimating 25% of household wealth is linked to domestic stocks, and 25% of that is energy-related. Canada's stocks have already been underperformers this year and should things worsen further, it could squeeze consumer spending.
    • ETFs: EWC, FXC, CNDA, EWCS, FCAN, QCAN
    | 1 Comment
  • Thu, Mar. 19, 8:04 AM
    • The PowerShares U.S. Dollar Bull ETF (NYSEARCA:UUP) is up 0.9% premarket after diving 2% yesterday following the Fed's surprisingly dovish outlook.
    • The euro is particularly weak, down 1.5% to $1.07 after climbing over $1.10 in very fast trade after the close yesterday. The pound (NYSEARCA:FXB) is down 0.6%, the yen (NYSEARCA:FXY0.5%, loonie (NYSEARCA:FXC1%, swissie (NYSEARCA:FXF1.3%, and aussie (NYSEARCA:FXA1.4%.
    • ETFs: UUP, UDN, UUPT, FORX, UDNT, USDU
    • Previously: Flash crash in the dollar (March 18)
    • Previously: Dollar off sharply as Fed slows rate hike estimates (March 18)
    | 2 Comments
  • Wed, Mar. 18, 2:15 PM
    | 1 Comment
  • Fri, Mar. 13, 10:30 AM
    • Another strong gain today in the dollar (UUP +0.6%) has pushed the dollar index through 100 for the first time since April 2003.
    • The greenback is up across the board, but particularly strong vs. the euro (FXE -0.9%), pound (FXB -1.1%), loonie (FXC -0.6%), and aussie (FXA -0.8%).
    • Alongside the rallying dollar, oil has erased its February bounce, and at $45.83 is now threatening to take out the bear market lows hit in late January. USO -2.8%
    | 21 Comments
  • Fri, Mar. 6, 9:07 AM
    | 1 Comment
  • Wed, Mar. 4, 10:05 AM
    • Following a surprise rate cut at its last meeting, the Bank of Canada today maintains its overnight rate target at 0.75%, and suggests it's satisfied for now that the one rate cut was enough.
    • "Financial conditions in Canada have eased materially since January, in response to the Bank’s recent monetary policy action and to global financial developments ... These conditions will mitigate the negative effects of the oil price shock, further boosting growth through stronger non-energy exports and investment."
    • The loonie (NYSEARCA:FXC) has strengthened somewhat, now higher by 0.1% at $0.8012.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    | Comment!
  • Tue, Mar. 3, 8:44 AM
    • There's fast action in the loonie (NYSEARCA:FXC) after Canada reports Q4 GDP growth of 2.4% vs. consensus estimates of 2%.
    • Everyone from the Bank of Canada on down is worried about an economic slowdown up north thanks to the crash in oil prices. The Canadian dollar has dropped from near par to just $0.80 over the past several months. WIth so many traders leaning to one side, the better-than-expected print has led to a wave of covering, and the loonie quickly adds 80 pips, now up 0.65% on the session.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    | Comment!
  • Thu, Feb. 26, 9:00 AM
    • Core CPI gained 0.2% in January, double expectations, even as the oil-influenced headline number tumbled 0.7%.
    • The only thing barely holding back Fed rate increases at this point is too-low inflation, and if core CPI is going to start printing 0.2% on a monthly basis, markets probably ought to start pricing in at least a small series of rate boosts.
    • The dollar bull ETF (NYSEARCA:UUP) is up 0.6% premarket, with the greenback nicely in the green against the euro (NYSEARCA:FXE), yen (NYSEARCA:FXY), loonie (NYSEARCA:FXC), pound (NYSEARCA:FXB), swissie (NYSEARCA:FXF), and aussie (NYSEARCA:FXA).
    • ETFs: UUP, UDN, UUPT, FORX, UDNT, USDU
    • There were also a couple of not-so-hot economic numbers earlier: Durable goods ex-transport fell short of expectations, and jobless claims jumped well past consensus.
    | Comment!
  • Tue, Feb. 24, 3:05 PM
    • "What we are trying to do is to manage the risks we face, not eliminate them," says Bank of Canada Governor Stephen Poloz in the bank's last public comments before its March 4 policy meeting.
    • He calls January's surprise cut an insurance policy against too-low inflation and the financial instability posed by high household debt. 'The sudden drop in global oil prices has increased both risks," he adds.
    • What Poloz didn't do at this speech was signal another rate cut is in the cards, and markets - pricing in a 75% chance of another cut - are scrambling.
    • The loonie (NYSEARCA:FXC) pops more than 100 pips higher, now up 0.5% on the session at $0.7997. The TSX Composite gives up its gains on the session, now lower by 0.25%.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    • Full speech
    | Comment!
  • Fri, Feb. 6, 8:58 AM
    | 1 Comment
  • Fri, Jan. 30, 8:42 AM
    • As backward-looking a report as you'll get, but nevertheless moving markets, Canadian GDP declined 0.2% in November vs. expectations for a flat read, and October's 0.3% gain.
    • The loonie (NYSEARCA:FXC) is taking the news hard, down nearly 1% vs. the greenback to $0.7846.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    | 1 Comment
  • Thu, Jan. 29, 11:39 AM
    • The Canadian dollar (NYSEARCA:FXC) is seen sliding to $0.77 from its current $0.79, says CIBC, expecting another rate cut from the Bank of Canada. Markets have already priced this in, says Chief Economist Avery Shenfeld, but it's the chance of a third one which will keep them guessing.
    • Adding to pressure on the loonie, he says, will be an earlier-than-expected Fed rate hike in June. "Evidence from prior tightening episodes suggests that policymakers don't wait for wages to flash red before pulling the trigger on hikes."
    • "This is more than a rate-spread story," he adds, noting other commodities have also softened, and Canada's current account balance is going to take a far sharper dive into negative territory than previously expected.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    | Comment!
  • Wed, Jan. 28, 9:04 AM
    | Comment!
  • Mon, Jan. 26, 3:46 PM
    • Citing the knock-on effects from the drop in oil prices, TD Bank cuts its 2015 GDP growth forecast for Canada to 2% from a 2.3% prediction made last month. Alongside that estimate, TD expects the Bank of Canada to cut its benchmark rate another 25 basis points in March to 0.50%.
    • Previously: Unexpected rate cut for Canada (Jan. 21)
    • The bank says oil will average just $47 this year and $65 in 2016, down from $68 and $80 in the previous forecast.
    • Lower corporate profits will likely lead to a contraction in business investment and weaker employment growth relative to our December forecast,” says TD.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN. FXC
    | 1 Comment
  • Wed, Jan. 21, 10:21 AM
    • The loonie (NYSEARCA:FXCplunges 1.3% to just $0.8150 after the Bank of Canada shocks markets by cutting its benchmark overnight rate by 25 basis points to 0.75%. It's the first move by the bank since September 2010, and it wasn't long ago markets were pricing in rate hikes.
    • The cut, of course, comes after the crash in the price oil, which the bank believes will be negative for both growth and underlying inflation.
    • BoC Governor Stephen Poloz has a press conference set for 11:15 ET.
    • The S&P/TSX Index is higher by 1.1%.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    | 15 Comments
  • Wed, Jan. 14, 12:47 PM
    • "However things play out, we have the tools to respond," said Bank of Canada Deputy Governor TImothy Lane, wrapping up a speech yesterday. The speech dealt with the effect of the collapse in oil prices on Canada (pretty unequivocally negative if you ask the BoC), and that final line has analysts suggesting a rate cut could be on the agenda.
    • Forward markets are now pricing in a 4% chance of a rate cut sometime over the next year vs. an 8% chance of a hike just two days earlier.
    • Signs: December's jobs report was well weaker than expected with 4.3K jobs lost on top of November's 10.7K lost. And real estate sales in Calgary - one of the country's hottest housing markets - are down 34% Y/Y in January, while listings are up 22%.
    • Previously: Bank of Canada's Lane: Falling oil prices bad for Canada (Jan. 13)
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN, FXC
    | Comment!
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FXC Description
CurrencyShares Canadian Dollar Trust is designed to track the price of the Canadian Dollar net of Trust expenses, which are expected to be paid from interest earned on the deposited Canadian Dollars.
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Country: Canada
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