Seeking Alpha
 

CurrencyShares Canadian Dollar Trust ETF (FXC)

- NYSEARCA
  • 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."
    • ETFs: EWC, FXC, CNDA, EWCS, FCAN
    | Comment!
  • Jun. 2, 2014, 9:47 AM
    • May's 52.2 read remains in expansion territory, but slides from April's 52.9.
    • "Canada’s manufacturing sector is still being held back by sluggish global growth,” says RBC chief economist Craig Wright. “As we move forward, support for the sector is expected given easing economic uncertainty, improving growth prospects in the U.S. and a more competitive currency.”
    • Already lower on the session, the loonie (FXC -0.5%) weakens a bit further, now buying $0.9174.
    • ETFs: EWC, CNDA, EWCS, FCAN
    | 1 Comment
  • May. 9, 2014, 8:42 AM
    • The loonie heads south as Canada reports a loss of 29K jobs in April vs. expectations for a gain of 12K. March saw 42.9K jobs added.
    • The unemployment rate is unchanged at 6.9%.
    • The Canadian dollar is currently buying $0.9190, down 0.5% on the session.
    • FXC -0.4% premarket
    • ETFs: EWC, CNDA, EWCS, FCAN
    | Comment!
  • Apr. 16, 2014, 10:42 AM
    • Leaving its benchmark lending rate at 1% for the 29th consecutive meeting, the Bank of Canada gives its blessing to a weaker currency, noting the lower Canadian dollar "should provide additional support" to the country's exporters.
    • The loonie (FXC) is off 0.2% and buying $0.9091 after the policy statement.
    • ETFs: EWC, CNDA, EWCS, FCAN
    | Comment!
  • Apr. 9, 2014, 2:21 PM
    • The greenback hits session lows across the board following the dovish tilt to the FOMC minutes, with the takeaway being members seemed in less of a hurry to hike rates than the spin following the policy statement and Yellen press conference that day in mid-March.
    • Higher on the session are the euro (FXE +0.4%), pound (FXB +0.1%), swissie (FXF +0.1%), aussie (FXA +0.2%), and loonie (FXC +0.4%). Flat on the session after being down earlier is the yen (FXY -0.2%).
    • UUP -0.3%
    • Dollar ETFs: UUP, UDN, DBV, FORX, UDNT, UUPT, USDU
    • Related currency ETFs: FXE, FXY, FXA, EUO, YCS, FXB, ERO, JYN, GBB, DRR, CROC, YCL, EUFX, ULE, URR, GDAY
    | Comment!
  • Apr. 4, 2014, 9:04 AM
    • The loonie (FXC) gets jiggy - up 0.6% and buying $0.9117 - after Canada reports 42.9K jobs added in March, about doubling forecasts, and bouncing from 7K jobs lost in February. The unemployment rate ticked down to 6.9% from 7% previously.
    • Canada ETFs: EWC, CNDA, EWCS, FCAN
    | 4 Comments
  • Mar. 27, 2014, 11:00 AM
    • "The market is pricing in an overly benign outlook for Canadian short-term interest rates," says BCA Research, sounding a contrary bullish call on the loonie (FXC), which has been a one-way bet (short) for about a year now. "Canada has a much smaller output gap than the U.S. Therefore, Canada is likely to hit capacity constraints sooner ... the BoC will need to normalize policy ahead of the Fed."
    • Previously: Poloz comments send loonie back to 5-year low
    | Comment!
  • Mar. 21, 2014, 8:45 AM
    • The loonie (FXC) pops higher by 0.5% after Canadian retail sales rise 1.3% in January, and inflation gains 1.1% Y/Y in February - both prints are ahead of economist forecasts.
    • The Canadian dollar is currently buying $0.8935.
    | Comment!
  • Mar. 19, 2014, 3:39 PM
    | Comment!
  • Mar. 18, 2014, 4:16 PM
    • He says the decision is family-related, but not in any way to do with his health. "This was a decision I made with my family earlier this year, as I will be returning to the private sector."
    • In an interview late last month, Flaherty said he had not decided whether he would run in the next elections.
    • The loonie isn't responding, though it is sharply lower on the session after dovish comments from BOC Governor Poloz.
    • ETFs: EWC, FXC, CNDA, EWCS, FCAN
    | Comment!
  • Mar. 18, 2014, 2:51 PM
    • The loonie slides - reclaiming an almost 5-year low vs. the greenback - after what's being interpreted as a dovish speech from BOC Governor Stephen Poloz. He expects a "soft" first quarter, but then a couple of years of speedy growth. Longer-term, however, an aging population will drive up savings and sap demand. "The growth trajectory that we converge on after the recovery period will be slower than our historical trend, and it will also be associated with lower equilibrium rates of interest."
    • FXC -0.8%.
    • Canada ETFs: EWC, CNDA, EWCS, FCAN
    | Comment!
  • Mar. 7, 2014, 8:36 AM
    • There's a big miss in Canada's February jobs number, with payrolls falling 7K vs. expectations of a 15K gain. The unemployment rate is flat at 7%.
    • The loonie (FXC) tumbles, -0.7% vs. the greenback at $0.9045.
    • ETFs: EWC, CNDA, EWCS, FCAN
    | Comment!
  • Mar. 3, 2014, 11:40 AM
    • Manufacturing activity picked up in February, the RBC Canadian Manufacturing PMI rising to 52.9 from 51.7. Among the subindexes, New Orders saw growth, but at a slower pace, falling to 52.6 from 52.9 - the weakest pace in six months, with the Supply Chain Management Association noting the particularly weak pace of export sales (even with the sliding loonie?).
    • The loonie (FXC -0.2%) remains lower, with events overseas more likely driving the action today.
    • ETFs: EWC, CNDA, FCAN, EWCS
    | Comment!
  • Mar. 3, 2014, 9:37 AM
    • “I’ve been talking with clients and writing about how the housing market is overvalued,” says Pimco's Ed Devlin, who oversees Canadian investments for the firm. “The change this year would be that I actually think it starts this year.”
    • Bill Gross' $237B Total Return Fund (ETF version: BOND) had about 2% of its portfolio in Canadian debt at last report vs. 4% a year earlier.
    • Not the first to point to a bubbly Canadian housing market, Devlin is looking for a gradual decline over the next 2-5 years, not a sudden collapse, and sees "buy the dip" opportunities in the loonie (FXC) which has already fallen sharply vs. the greenback over the last 18 months.
    • ETFs: EWC, CNDA, FCAN, EWCS
    | 1 Comment
  • Mar. 3, 2014, 7:12 AM
    • A check of currencies amid the Ukraine military tension finds money flowing, but not flooding, into the greenback. The dollar is +0.2% vs. the euro (FXE), +0.1% vs. cable, +0.5% vs. the yen (FXY), flat against the swissie (FXF), and up 0.3% vs. the loonie (FXC). The reactions in stocks, commodities, and fixed-income are far greater.
    • Dollar ETFs: UUP, UDN, DBV, FORX, UDNT, UUPT, USDU
    | 1 Comment
  • Feb. 28, 2014, 11:11 AM
    • The loonie (FXC +0.5%) is having a big session after upward revisions to Q2 and Q3 GDP growth and a strong early Q4 print. On the downside - while October and November looked strong - December shows a contraction of 0.5%. Statistics Canada blames the weak December number on the harsh winter's effect on retail sales which fell 2.1%. Canada? Harsh winter? Seriously?
    • Overall, Q4 GDP growth at an annualized pace of 2.9% follows 2.7% in Q3, 2.2% in Q2, and 2.9% in Q1. For the year, GDP grew 2% vs. expectations of 1.7%.
    • "While today’s GDP report is a bit of a mixed bag, the bigger picture is that the Canadian economy looks to have had better momentum than widely appreciated through much of 2013,” says BMO's Doug Porter.
    • Related ETFs: EWC, CNDA, FCAN, EWCS
    | 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