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CurrencyShares Canadian Dollar Trust ETF (FXC)

  • 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.
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  • 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
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  • Feb. 21, 2014, 4:17 PM
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  • Feb. 7, 2014, 10:49 AM
    • The loonie's (FXC +0.5%) having a good session after Canada added 29.4K jobs in January, surpassing expectations for 20K. The unemployment rate slipped to 7% from 7.2%.
    • "Today's solid comeback represents a nice recovery from the ugliness in last month's Canadian employment report," says BMO's Doug Porter. He reminds the 7% unemployment rate is unchanged from a year ago - job growth is only keeping up with labor force growth.
    • The TSX is flat on the session.
    • Related ETFs: EWC, CNDA, FCAN, EWCS
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  • Jan. 31, 2014, 8:51 AM
    • Canadian GDP rose an inline 0.2% in November - the 5th consecutive month of growth and up 2.6% Y/Y - but it's not halting the slide in the loonie (FXC) which is now down 0.5% and buying just $0.8916, the lowest amount since the summer of 2009.
    • The Canadian unit has been in a bear market since the start of 2013, with the move accelerating in the past few months amid a string of weak economic data and plenty of government types saying they're welcoming of the move. A general move out of emerging currencies spreading to commodity currencies is further speeding the decline in 2014.
    • Canada ETFs: EWC, CNDA, FCAN, EWCS
    | Comment!
  • Jan. 22, 2014, 10:07 AM
    • "Inflation is expected to remain well below target for some time, and therefore the downside risks to inflation have grown in importance," says the bank, maintaining its benchmark overnight lending rate at 1%, but clearly considering easier policy down the road.
    • The loonie (FXC -0.3%) takes out another multi-year low, now buying $0.9062, and at its weakest vs. the greenback in about four years.
    • Related ETFs: EWC, FXC, CAD, CNDA, FCAN, EWCS
  • Jan. 14, 2014, 10:42 AM
    • The loonie (FXC -0.7%) slips to new multi-year lows with dovish comments from junior finance minister Kevin Sorenson as good of an excuse as any to sell a few more.
    • "The manufacturing sector (is) quite pleased that we have a [Canadian] dollar that the value is down from what it was a number of months ago ... there is remarkable opportunity. We’re an exporting country and as you know by far the majority of everything we manufacture here and everything we grow here we export and so there’s opportunity.”
    • The loonie was briefly boosted yesterday after the Bank of Canada's business outlook saw positive signs for the economy, but those gains and more have been erased in today's session.
    • Last Friday: Ugly December jobs report for Canada
    • Related ETFs: EWC, FXC, CAD, CNDA, FCAN, EWCS
  • Jan. 10, 2014, 4:31 PM
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  • Jan. 10, 2014, 10:58 AM
    • Canada unexpectedly reported a loss of 45.9K jobs this morning and a big jump in the unemployment rate to 7.2%. Today's action means the country has essentially created zero net new jobs in the last six months, writes Paul Vieira.
    • What if headline Canadian unemployment were calculated the way it is in the U.S.? The country's UE rate would be 5.8%, says Vieira. Cue the rate hike chatter!
    • Canada ETFs: EWC, FXC, CAD, CNDA, FCAN, EWCS
  • Jan. 10, 2014, 9:09 AM
    • The loonie quickly dives to new multi-year lows vs. the greenback after Canada reports a loss of 45.9K jobs in December and a 0.3 point rise in the unemployment rate to 7.2%. Consensus had called for a gain of 14K jobs.
    • FXC -0.6% premarket and the loonie is buying just $0.9146 - the least since mid-2009.
    • Canada ETFs: EWC, FXC, CAD, CNDA, FCAN, EWCS
  • Jan. 6, 2014, 8:05 AM
    • The loonie (FXC) is taking a small morning tumble after Canadian finance minister Jim Flaherty says recent weakness in the currency (off about 7% in 2013) is good for the nation's manufacturers, and Band of Canada Governor Stephen Poloz told him and the province finance chiefs there may be more to come.
    • The loonie is off 0.2% and buying $0.9385.
    | Comment!
  • Dec. 31, 2013, 8:03 AM
    • Official holdings of Canadian dollars jumped 23.6% Y/Y to $112.5B in Q3, according to the IMF, though that represents just 1.9% of allocated central bank reserves - about the same as the Australian dollar, but less than half of the pound or yen (the greenback is 61%).
    • The loonie (FXC) is off about 7% vs. the greenback this year amid slumping commodity prices (among other factors) - it's the largest decline for the currency since 2008.
    | 1 Comment
  • Dec. 23, 2013, 10:52 AM
    • Canada posts October GDP growth of 0.3%, the 4th monthly increase in a row and better than 0.2% expected.
    • The loonie (FXC +0.6%) gains, now buying $0.9446.
    • The iShares MSCI Canada Index (EWC +0.7%)
    • Related ETFs: CAD, CNDA, FCAN, EWCS
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  • Dec. 6, 2013, 9:35 AM
    • Canada added 21.6K jobs in November, well ahead of expectations for 12K and against a 13.2K gain in October. The unemployment rate held steady at 6.9%. The average monthly job growth over the last six months is11K vs. 23.3K seen in the previous six-month window (May's 95K gain fell off the measure).
    • The loonie - which dropped sharply after the big U.S. jobs number - has returned to where it was prior to 8:30 ET, flat on the session around a multi-year low of $0.9390.
    • Canada ETFs: EWC, FXC, CAD, CNDA, FCAN, EWCS
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  • Dec. 4, 2013, 11:41 AM
    • The loonie (FXC -0.4%) slips to a multi-year low after the Bank of Canada - as expected - leaves its overnight rate at 1%, but sounds a dovish note, noting inflation has moved further beneath the 2% target, "held down by significant excess supply and by the effects of heightened competition in the retail sector, which look to be more persistent than anticipated."
    • "The downside risks to inflation appear to be greater."
    • The TSX is off 0.3%.
    • Canada ETFs: EWC, FXC, CAD, CNDA, FCAN, EWCS
    | Comment!
  • Dec. 2, 2013, 9:58 AM
    • Canada's November PMI slips a hair from October, but is still a speedy 55.3 - about the highest level in more than two years. "Recent reports suggest that the fourth-quarter hit to U.S. growth will be limited following a solid gain in the third quarter," says RBC's Craig Wood. "A slow and steady increase in U.S. growth will play a big role in setting the stage for a continuation in the recent momentum we have seen in Canadian manufacturing activity over the past few months.” 
      • Most interesting about the quick pace of activity in Canada is that it comes with the loonie (FXC) at about a 2-year low, now buying just $0.9406.
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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.
See more details on sponsor's website
Country: Canada
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