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Aug 5, 2011

See-sawing C$ pulls back from 5-week low

TORONTO, Aug 5 (Reuters) – Canada’s dollar recouped early
losses to trade little changed against the greenback on Friday
after touching a five-week low, as a modest recovery in stock
markets helped offset broad anxiety about the global economy.

The U.S. dollar fell broadly, reversing some of the
previous day’s sharp gains, also because of a partial recovery
in Wall Street stocks. [FRX/]

Aug 5, 2011

C$ hits 5-week low as growth fears roil markets

TORONTO, Aug 5 (Reuters) – Canada’s dollar weakened to a
five-week low against the U.S. currency on Friday, as solid
U.S. job growth failed to offset fears about a possible U.S.
downgrade and broad anxiety about the global economy.

Stonger-than-expected U.S. employment data and a mixed
Canadian jobs report initially reassured investors that the
U.S. economy was not falling back into recession. But sober
second thoughts about economic weakness and ongoing speculation
that U.S. sovereign debt may be downgraded spooked markets.
[ID:nN1E7740O8]

Aug 5, 2011

C$ rises after strong U.S. jobs report

TORONTO, Aug 5 (Reuters) – Canada’s dollar strengthened
against the U.S. currency on Friday morning, rebounding from a
five-week low, after stronger-than-expected U.S. jobs data
eased fears about a recession and calmed jittery investors.

The U.S. data came on the heels of a Canadian employment
report that showed the unemployment rate in July at its lowest
level since December 2008 and strong private-sector job gains.
But overall hiring was lower than analysts had forecast.

Aug 3, 2011

TMX buys Atrium Network as Maple extends offer

TORONTO, Aug 3 (Reuters) – TMX Group Inc (X.TO: Quote, Profile, Research, Stock Buzz), the
operator of the Toronto Stock Exchange, said on Wednesday that
it had bought data connectivity provider Atrium Network in a
deal that will allow it to fast-track plans to expand into new
service areas.

The deal came as Maple Group, a consortium of Canadian
banks and pension funds bidding for TMX, extended the deadline
for its C$3.8 billion ($3.96 billion) offer to Sept. 30 as it
continues to seek regulatory approvals.

Jul 28, 2011

C$ weakens on U.S. debt fears, eye on U.S. vote

TORONTO, July 28 (Reuters) – The Canadian dollar edged
lower against its U.S. counterpart on Thursday, trading in a
tight range as investors awaited a crucial vote in the United
States on a bill to cut the deficit.

The Canadian currency had strengthened earlier in the day
but sold off slightly as a vote loomed in the United States on
Thursday, where lawmakers are working to compromise on a
deficit reduction plan that would head off a U.S. default.

Jul 26, 2011

C$ hits highest level since 2007 on US$ woes

TORONTO, July 26 (Reuters) – The Canadian dollar rose to
its best level in more than three and a half years against the
U.S. currency on Tuesday, as debt fears in the United States
continued to slam the greenback.

The Canadian currency CAD=D4 climbed as high as C$0.9407
to the U.S. dollar, or $1.0630. This was its strongest level
since November 2007, when it hit a modern-day high.

Jul 25, 2011

C$ firms near 3-1/2 yr high as debt fears hit US$

TORONTO, July 25 (Reuters) – The Canadian dollar finished
stronger against its U.S. counterpart on Monday, within sight
of last week’s 3-1/2 year high, as a stalemate in U.S. debt
talks boosted Canada’s flight-to-safety status.

The breakdown in U.S. budget talks has fueled demand for
perceived safe-haven currencies, as the greenback hit a record
low versus the Swiss franc and a four-month trough against the
yen. [FRX/]

Jul 20, 2011

Analysis: Investors look to Canada debt in U.S., Europe crises

TORONTO (Reuters) – Canada’s debt market is seeing an influx of money as crises in Europe and United States send investors elsewhere, but the country’s relatively small market means the shift may not be permanent.

With its strong economy, stable debt market and sound banks, Canada has long been a refuge for those looking for somewhere to park their money. But instability in the world’s biggest debt markets has made it even more attractive.

Jul 17, 2011

Low rates push Canadian banks to fight for profit

TORONTO, July 17 (Reuters) – Frugal Canadian customers, low
interest rates and stiff competition are putting a squeeze on
the profits from loans made by the country’s big banks, a trend
that’s likely to persist into 2012.

Canada’s five major banks all reported a drop in net
interest margins in their domestic operations last quarter and
the slide isn’t expected to reverse any time soon. Banks begin
reporting third-quarter results in August.

Jul 4, 2011

New Sun Life CEO to chart steady course for growth

TORONTO, July 4 (Reuters) – Sun Life Financial (SLF.TO: Quote, Profile, Research, Stock Buzz)
will focus on expanding its business in the United States,
China and India rather that pushing into new markets, the man
set to be the next chief executive of Canada’s No. 3 life
insurer said on Monday.

Sun Life Chief Operating Officer Dean Connor, 54,
reiterated the company’s growth strategy after it announced he
will succeed long-time CEO Donald Stewart, 64, on Dec. 1.