“Canada’s trade surplus shrinks”, “Bankruptcies increase as loonie gains”, and “Soaring loonie; plunging outlook”. It’s amazing how the headlines change in two days. And oh yeah, I almost forgot Friday’s report on “looming factory job losses”. The culprit? Of course… the rising Canadian dollar. Well, I’ll get to my opinion after I tell you the […]
For those of you non-Canadians who do not yet know what the “loonie” is… its the world’s best-performing major currency this year - the Canadian dollar. It rose as high as $1.0717 (U.S.) Friday from Thursday’s close of $1.0512. It settled Friday’s session at $1.0704, up 1.92 cents.
The currency has soared 25-percent this year against […]
According to CIBC World Markets, the Canadian economy will “outperform” the United States economy in 2008. Looks like the strong Canadian loonie (dollar) will set pressures on the country’s manufacturing sector, but will not hold the economy back at all. CIBC World Markets’ economic forecast indicated the loonie will hit $1.05 U.S.. This will be […]
The Bank of Canada’s new governor (from Feb. 1) was announced today, as former Golman Sachs investment banker Mark Carney. Carney, 42, will become the the youngest central bank governor among the G8 nations when he begins his term. Finance Minister Jim Flaherty trumped youth over experience when choosing Carney, currently the senior associate deputy […]
Canada has successfully lowered its debt, balanced its budget, kept its trade surplus up, kept interest rates up and looking to further raise them… Exactly what every other G-7 country has been unable to do. Meanwhile the Canadian economy is stably strolling along, and the Canadian loonie has been very strong.
The federal government today announced […]
Prices are sticky downwards - we all know it. Now Canada can witness it at its finest. Sure the Canadian and American dollars are near parity on the markets, but not at the retail cash registers. You will still find your self paying less for the same product in the United States or elsewhere. Canadians […]
Canadian-American dollar parity - more closer than we think? Well, the gap certainly seems to get smaller and smaller. Last week the Canadian dollar traded in Toronto at a new 30-year-high, at 97.04 cents USD. The last time the Canadian dollar traded so high against the US Dollar was mid-February 1977 - more than 30 […]
Canada has historically always been the number-1 seller of goods to the United States. China has now firmly eclipsed Canada for that position. This remarkable shift in trade reflects the Asian consumer goods juggernaut’s deeper penetration of the U.S. market. This also signals Canada’s special trading relationship with Washington is becoming… less “special”.
China sold $312.2-billion […]
The Canadian dollar fell today in the wake of an inflation report that economists said is more likely to keep the Bank of Canada on the sidelines next month. The central bank raised interest rates to 4.5 percent on July 10, and suggested that further increases were a possibility - due to inflationary pressures. […]
What is subprime mortgage?
A mortgage given to a home-buyer with less than sufficient credit, or who lacks a proven income source to support loan payments. Lenders with excess money in the U.S. were giving loans to almost anyone who asked - charging a little more interest in return for the riskier loans. The lenders made […]