Seeking Alpha
 

CurrencyShares Canadian Dollar Trust ETF (FXC)

- NYSEARCA
  • Tue, Jan. 13, 3:06 PM
    • We see important risks to Canada’s economic outlook stemming from the recent decline in the price of oil and other commodities,” says Bank of Canada Deputy Governor Tim Lane. Not too concerned with cheap oil's effect on inflation, Lane says the bank is more interested in what oil's crash will mean for the country's growth, and hinted the BoC may have more to say on this matter after its Jan. 21 policy meeting.
    • The central bank's dour view is particularly interesting given that's it's more bearish than some private sector outlooks. RBC, for example, says the boost to consumer spending and exports can more than offset the drop in investment.
    • The loonie (NYSEARCA:FXC) is flat on the session, hovering near crisis-era lows vs. the greenback. The S&P/TSX Index is down 0.9%.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    | 1 Comment
  • Fri, Jan. 9, 9:04 AM
    • Canada shed 4.3K jobs in December vs. expectations for a 15K gain and a loss of 10.7K in November. The unemployment rate held steady at 6.6%.
    • It's the first back-to-back job losses since mid-2009 when the economy was mired in a deep recession.
    • The loonie (NYSEARCA:FXC) takes out new multi-year lows following the number, now down 0.3% at $0.8424.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    • Previously: Unemployment rate in U.S. tumbles to 5.6% (Jan. 9)
    | 9 Comments
  • Wed, Jan. 7, 7:55 AM
    • They couldn't have told us this 2000 pips ago? The weak stock performance of late from the Canadian banks is flashing a warning signal, says Morgan Stanley, meaning now is the time to sell the loonie (NYSEARCA:FXC).
    • To review: The Canadian dollar has been falling in more or less a straight line for more than a year. In the summer of 2012, it was buying $1.04 and this morning can purchase just over $0.84.
    | 1 Comment
  • Tue, Jan. 6, 3:07 PM
    • That's the consensus coming from the Economic Club of Canada's annual forecast breakfast held earlier today. BMO's Doug Porter says investment in oil and gas accounts for roughly one-third of residential investment in Canada, and he's expecting a double-digit decline in that spending. He sees growth in Canada at about 2.2% this year vs. 3.1% in the U.S.
    • RBC's Craig Wright, however, sees lower oil prices as a slight net positive for Canada, as slowing investment in oil and gas is offset by stronger exports and boosted consumer spending power.
    • Wright may be on to something. Weaker again today, the loonie (FXC -0.5%) is back to its crisis-era lows.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    | 1 Comment
  • Dec. 10, 2014, 4:16 PM
    • Another 2.5% decline today brings the S&P/TSE Composite into correction territory - off 12% from the 2014 highs and now barely in the green for the year.
    • The loonie (FXC -0.4%) gave up more ground to the dollar, and now buys just $0.87 - the lowest in 66 months.
    • "I think it's basically a sell-Canada mentality," says an analyst. "Whatever the rate of growth that was forecast, says two months ago, is going to be revised down."
    • EWC -2.65%
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    • Previously: Double-whammy for Canadian banks (Dec. 10, 2014)
    | Comment!
  • Dec. 5, 2014, 8:52 AM
    | 1 Comment
  • Nov. 28, 2014, 9:00 AM
    • Canadian GDP grew at an annualized pace of 2.8% in Q3 vs. expectations for 2.1%. GDP grew 3.6% annualized in Q2.
    • The news was enough to send the slumping loonie higher for a few moments, but the currency has resumed its slide alongside the plummeting oil price. One loonie buys just $0.8757 vs. $0.8888 when we went to bed on Wednesday. FXC -1.2% premarket
    • The TSX Composite (NYSEARCA:EWCfell 0.8% yesterday as energy stocks tumbled the most in three years.
    • Previously: Energy names sharply lower as oil dives below $70
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    | Comment!
  • Nov. 18, 2014, 4:24 PM
    • "Consideration should be given to an inflation target that is above 2%," says Bank of Canada Deputy Governor Agathe Cole, taking note of a world of slower global growth and lower policy rates. Cote says the so-called neutral rate for Canada has fallen by 150 basis points since the financial crisis to between 3 and 4 percent.
    • Unless the inflation target is changed, says Cote, the probability of being constrained by the zero lower bound rises to 15% from 5%.
    • Inflation targets were first introduced in Canada in 1991and they are set every five years, with the next renewal coming in 2016. “The 2 percent target has been in place so long, it’s become very credible,” says BMO senior economist Robert Kavcic. "Any change may risk some of the bank’s credibility."
    • Also up for study, says Cote, is whether the BOC's core inflation measure is the best guide to price trends.
    • The loonie ETF: FXC
    | Comment!
  • Nov. 7, 2014, 10:26 AM
    • Canada reported an October jobs gain of 43.1K vs. expectations for just 5K. The unemployment rate fell to a six-year low of 6.5% from 6.8%.
    • It's been a yo-yo year for Canadian jobs, with four of the 2014's 10 months so far printing negative numbers, but October's gain marks two large advances in a row. "The see-saw pattern is gone," says CIBC's Avery Shenfeld. "The employment rebound in the past two months is a refreshing dose of reassurance on growth."
    • The loonie (NYSEARCA:FXC) jumps nearly 100 pips on the news, now up 0.6% and buying $0.8812. The TSX 200 approves, up 0.75% early in the session.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    | 1 Comment
  • Oct. 29, 2014, 2:30 PM
    • While the statement - an end to QE, retention of the "considerable time" language, chatter about improving employment -wasn't much a surprise, the fact that the dissent came from the dove camp suggests perhaps there was a bit more hawkishness in the conference room than past meetings.
    • In any case, while stocks and longer-dated rates have a relatively subdued reaction, money is moving into the greenback (UUP +0.7%), with the euro (FXE -0.7%), yen (FXY -0.7%), pound (FXB -0.2%), Swiss franc (FXF -0.6%), loonie (FXC -0.4%), and aussie (FXA -0.6%) all considerably lower than they were 30 minutes ago.
    • ETFs: FXE, UUP, FXY, EUO, FXA, YCS, UDN, ERO, JYN, DRR, CROC, FORX, UUPT, UDNT, YCL, EUFX, ULE, USDU, URR, GDAY
    • Previously: QE ends, "considerable time" language stays for now
    | Comment!
  • 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.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    | 1 Comment
  • Oct. 15, 2014, 11:59 AM
    • Markets and bond yields are falling everywhere, but it's the greenback (UUP -0.8%) which is taking the brunt of sales in foreign exchange. The euro (FXE +1%), yen (FXY +0.9%), swissie (FXF +0.9%) are all sharply higher, with cable (FXB +0.2%) advancing moderately. The loonie (FXC +0.1%) is up slightly vs. the dollar.
    • Dollar ETFs: UUP, UDN, FORX, UUPT, UDNT, USDU
    • Gold (GLD +0.9%) is up to $1,243 per ounce, about its highest price since Labor Day.
    | 4 Comments
  • Oct. 6, 2014, 3:49 PM
    | 2 Comments
  • 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.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN
    | Comment!
Visit Seeking Alpha's
FXC vs. ETF Alternatives
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.
See more details on sponsor's website
Country: Canada
ETF Hub
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub