Andrea's Feed
Feb 24, 2012

C$ weakens to near US$ parity; eyes oil, Europe

TORONTO, Feb 24 (Reuters) – The Canadian dollar ended
slightly weaker near parity with the U.S. dollar on Friday as a
quiet day on the economic front and market focus on the
implementation of Greece’s rescue deal kept the currency mostly
on the sidelines.

While oil prices rose above $125 a barrel, on track for a
fifth straight weekly gain, the Canadian dollar ended the day
and the week little changed, overlooked as traders watched
developments in the euro zone and Iran for direction.

Feb 9, 2012

C$ ends stronger after hitting 2012 high on Greece

TORONTO, Feb 9 (Reuters) – Canada’s dollar
strengthened to a 2012 high against its U.S. counterpart on
Thursday on firmer oil prices and as investors sought riskier
assets on news of a Greek bailout package, but gains were curbed
by lingering fears of a default.

News that Greek leaders had clinched a long-stalled deal
just hours before a key meeting with the country’s financial
backers encouraged investors to take on some risk, driving down
prices of safe-haven U.S. Treasuries.

Feb 8, 2012

C$ ends little changed; traders watch Greek talks

TORONTO, Feb 8 (Reuters) – Canada’s dollar ended
little changed against its U.S. counterpart on Wednesday with
the currency stuck in a tight trading range as investors awaited
resolution on a second Greek bailout and central bank meetings
on Thursday.

“The biggest risk is the central bank risk that we get
tomorrow,” said Camilla Sutton, chief currency strategist at
Scotia Capital. “People are focusing on Greece, but I think
there are a lot of other currents … and we have a lot of
traders just holding pat as we wait out that risk.”

Feb 7, 2012

BMO aims to boost ETF market share, outpace rivals

TORONTO, Feb 7 (Reuters) – Bank of Montreal
will gain ground against foreign rivals to capture 10 percent of
Canada’s exchange traded fund market in 2012 as domestic rivals
try to decide whether it is too late to enter the burgeoning ETF
space, the bank’s head of asset management said in an interview.

Rajiv Silgardo, co-CEO of BMO Global Asset Management, said
he expects Canada’s C$43 billion ($43 billion) ETF market to
continue to grow at a double-digit pace in the next five years
as investors look to the low fees and market-matching returns of
ETFs to take some of the risk out of their sagging portfolios.

Jan 31, 2012

Insight: Borrowing spree pushes Canada to edge of debt cliff

TORONTO (Reuters) – The two giant jars on Randolph Taylor’s windowsill are filled with shards of credit cards, chopped up by the clients whose staggering indebtedness drove them to the front line of Canada’s household debt crisis.

“I used to cut them up myself, but then I saw that having them do it themselves was a huge symbolic act,” Taylor said, pulling out a pair of scissors from his desk drawer in the Toronto headquarters of debt counseling agency Credit Canada.

Jan 31, 2012

Borrowing spree pushes Canada to edge of debt cliff

TORONTO, Jan 30 (Reuters) – The two giant jars on
Randolph Taylor’s windowsill are filled with shards of credit
cards, chopped up by the clients whose staggering indebtedness
drove them to the front line of Canada’s household debt crisis.

“I used to cut them up myself, but then I saw that having
them do it themselves was a huge symbolic act,” Taylor said,
pulling out a pair of scissors from his desk drawer in the
Toronto headquarters of debt counselling agency Credit Canada.

Jan 12, 2012

The surprising strength of Canada’s pension funds

TORONTO, Jan 12 (Reuters) – Deep in the financial
crisis, a Canadian pension fund entrusted with the nest eggs of
17 million workers bet a chunk of that money on Internet phone
service Skype, venturing well outside its tradition of
long-term, conservative investing.

The investment, made by Canada Pension Plan Investment
Board(CPPIB) in partnership with private equity, more than
tripled in less than two years and marks the clearest sign to
date that Canada’s once-staid pension funds have become a huge
new force in a globalized market.

Jan 12, 2012

Insight: The surprising strength of Canada’s pension funds

TORONTO (Reuters) – Deep in the financial crisis, a Canadian pension fund entrusted with the nest eggs of 17 million workers bet a chunk of that money on Internet phone service Skype, venturing well outside its tradition of long-term, conservative investing.

The investment, made by Canada Pension Plan Investment Board(CPPIB) in partnership with private equity, more than tripled in less than two years and marks the clearest sign to date that Canada’s once-staid pension funds have become a huge new force in a globalized market.

Oct 31, 2011

Canada growth moderating, external risks remain – IMF

TORONTO, Oct 31 (Reuters) – Canada’s economic outlook is
good, but growth is slowing and risks are tilted to the
downside, with any external shock likely to be amplified by
high consumer debt and house prices, the International Monetary
Fund said on Monday.

The multinational agency said it expects growth in Canada’s
gross domestic product to slow to about 2.0 percent in 2011 and
2012, a slightly downgrade from its September forecast and in
line with the Bank of Canada’s outlook released last week.

Oct 26, 2011

Canada home prices at record, but confidence falls

TORONTO, Oct 26 (Reuters) – Canadian home resale prices hit
a record high in August, their ninth consecutive monthly gain,
but consumer confidence fell for the fifth time in six months,
highlighting Canada’s two-speed economy and cloudy outlook.

The Teranet-National Bank Composite House Price Index,
which measures price changes for repeat sales of single-family
homes in six metropolitan areas, showed overall prices were up
0.9 percent in August from July.