Seeking Alpha

CurrencyShares Canadian Dollar Trust ETF (FXC)

  • Aug. 18, 2011, 12:14 PM
    Outperforming most markets today is Canada, the TSX -1.7% as the index benefits from its exposure to precious metals miners as well as a dive in the Canaidan dollar. The loonie is falling back towards parity with the greenback after reaching $1.06 earlier this summer. FXC -1.2%.
    | 1 Comment
  • Aug. 17, 2011, 12:32 PM
    Citing growth that is slowing, but not slowing too much, Merrill Lynch pushes out its call for the next BoC rate hike to December from September. The prediction is at variance with the market, which actually is pricing in a 50/50 chance of a rate cut before year's end.
    | Comment!
  • Aug. 1, 2011, 1:01 PM
    With the greenback weak and sentiment overwhelmingly negative, Peter Brandt notes the chart structure of the dollar index today is nearly identical to the 2008 lows. "Tell me something bearish about the dollar today that I do not already know," says Brandt.
    | 1 Comment
  • Jul. 29, 2011, 3:15 PM
    The Canadian economy unexpectedly contracted in May, GDP falling 0.3% following flatlining in April. Expectations were for a slight increase. It's the largest drop since May 2009. A sluggish U.S. combined with supply-chain disruptions from Japan seem to be the culprits and BoC Gov. Carney is on record expecting a reacceleration in H2.
    | 1 Comment
  • Jul. 29, 2011, 8:45 AM
    A flat dollar index following the GDP report belies big action in currencies as the dollar plummets to new record lows vs. the swiss franc and (effectively) the yen. However - remember your correlations - the greenback rises sharply vs. the loonie and aussie.
    | 1 Comment
  • Jul. 27, 2011, 8:35 AM
    "Speculators have been burnt many times before," says a bank currency trader, warning the dollar's daily record lows vs. the yuan could soon provoke a response from the PBOC (not to mention the BOJ, SNB RBA, ECB, BOC, and Brazil).
    | Comment!
  • Jul. 26, 2011, 7:55 AM
    With the greenback getting hammered across the globe, conventional wisdom has the reason being worries about a U.S. default/downgrade. However dollar-based assets - equities and bonds -  are doing just fine. An alternative explanation: a Goldman report saying inflation be damned, economic weakness is about to bring more QE.
    | Comment!
  • Jul. 20, 2011, 3:23 PM
    BoC chief Mark Carney does nothing to dissuade markets from yesterday's idea that a resumption of rate hikes could start soon, but suggests the pace will be measured, and rates could remain relatively low even after the economy returns to full capacity. FXC +0.4%.
    | Comment!
  • Jul. 20, 2011, 12:37 PM
    Euro strength "depends entirely on your vantage point," writes Ambrose Evans-Pritchard. The currency looks decent vs. the greenback, but has crashed vs. several currencies. An epic rally is in store for the euro should an EMU breakup - with one or more of the weak states leaving - occur.
  • Jul. 19, 2011, 9:15 AM
    The Bank of Canada maintains its overnight target rate of 1%, but hints at future hikes, saying inflation will reach 2% earlier than previously anticipated as "excess supply in the economy is gradually absorbed." The loonie jumps sharply, +1.0% at $1.0524.
    | Comment!
  • Jul. 14, 2011, 12:40 PM
    Like a chicken that's had its head chopped off and continues to run around before keeling over is how John Taylor sees the euro. In fact, the euro is only holding up against the greenback and the pound - 2 currencies that have their own issues. Measured against the franc, yen, aussie, loonie, gold ... the euro shows every sign of weakness.
  • Jul. 8, 2011, 7:13 AM
    Canada created 28.4K jobs in June, nicely higher than market expectations in the 15-20K range. The unemployment rate remains at 7.4%. The loonie moves slightly higher vs. the greenback, now buying $1.043.
    | Comment!
  • Jul. 7, 2011, 11:02 AM
    The Ivey PMI for Canada in June slips to 59.9 vs May's 65.5, far short of expectations for a reading of 65. Nevertheless, the loonie is sharply higher as perky stock markets take other risk assets (of which the loonie is one) along with them. FXC +0.8%.
    | Comment!
  • Jun. 30, 2011, 9:55 AM
    The greenback doesn't know what to make of the powerful Chicago PMI. A stronger economy is supposed to send a currency higher, but "risk on" means the dollar must fall. For now, the greenback remains somewhat lower, with the outlier being a powerful move up against the swissie. FXF -0.9%, UUP -0.2%.
    | Comment!
  • Jun. 29, 2011, 7:33 AM
    Canada's inflation rate jumps to 3.7% in May, the highest level since March 2003. Expectations were for a 3.3% rise. Core inflation moved to 1.8% vs. an anticipated 1.5%. The loonie spikes higher to $1.0283, +0.9%.
    | Comment!
  • Jun. 28, 2011, 12:48 PM
    A survey of Canadian consumer confidence declines to its lowest level in 2 years, the Nanos Research expectations index falling to 112.8 from 125.6. This jibes with recent comments from BoC Gov. Carney, who says the powering loonie is taking the starch out of the recovery.
    | 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
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub