TORONTO, Oct 19 (Reuters) – Canada’s sale of two-year
government bonds met with softer but still healthy demand on
Wednesday as ample supply kept buyers in check and progress on
the European debt crisis boosted risk appetite.
The C$3.5 billion ($3.47 billion) auction of bonds produced
an average yield of 1.097 percent, up from 0.954 percent at the
last two-year bond auction in August, in line with market rates
and back above the Bank of Canada’s overnight interest rate
target of 1 percent.
TORONTO, Oct 17 (Reuters) – Sales of existing homes in
Canada picked up in September after three months of stable
activity, led by strong sales in Toronto, the Canadian Real
Estate Association (CREA) said on Monday.
The industry group said sales rose 2.7 percent from August
and were up 11 percent from September 2010, a period of
relatively weak activity.
TORONTO, Oct 5 (Reuters) – Canada’s sale of 10-year
government bonds saw strong demand on Wednesday, as fears about
Europe’s debt crisis and possible global recession fueled
investor hunger for safe-haven assets.
The C$2.5 billion ($2.4 billion) auction of bonds produced
an average yield of 2.254 percent, down from 2.994 percent at
the last 10-year bond auction in July.
TORONTO, Sept 19 (Reuters) – Global policymakers need to
push through with contentious new bank regulations to prevent
another 2008-style crisis, a senior Bank of Canada official
said on Monday.
“The current bout of turbulence, like the financial crisis
of three years ago, serves as a reminder of why it is
fundamentally important to have a resilient financial system,”
Timothy Lane, deputy governor at the Bank of Canada, said in a
HONG KONG/TORONTO (Reuters) – Bank of Nova Scotia (BNS.TO: Quote, Profile, Research, Stock Buzz) said on Friday it will buy a near 20 percent stake in Bank of Guangzhou for about C$719 million ($722 million) to expand its footprint in China, becoming the latest foreign bank to invest in a Chinese bank before the bank does an IPO.
Scotiabank, Canada’s third-largest lender, said it expects the deal to add to earnings next year and to close by December this year. Guangzhou is China’s third largest city, about 120 kilometers (75 miles) northwest of Hong Kong.
TORONTO, Sept 8 (Reuters) – The Canadian dollar ended the
session weaker against its U.S. counterpart on Thursday as
investors sought safety after a speech by Federal Reserve chief
Ben Bernanke lacked details on plans to spur economic growth.
Wall Street stocks fell on the Bernanke speech and the euro
slipped on fears the euro zone debt crisis is worsening with
Greece failing to meet fiscal targets. [MKTS/GLOB]
TORONTO, Sept 8 (Reuters) – The Canadian dollar was little
changed in early trade on Thursday as markets focused on
statements by key central bankers, overshadowing U.S. and
Canadian economic data.
The euro slid to a two-month low against the U.S. dollar
after the European Central Bank kept interest rates on hold and
ECB boss Jean-Claude Trichet said growth risks in the euro zone
economy have shifted to the downside. [MKTS/GLOB]
TORONTO, Sept 7 (Reuters) – The Canadian dollar ended
higher on Wednesday, boosted by rallying commodities and stock
markets and by a Bank of Canada statement that was not as
dovish about interest rates as traders had expected.
World equity markets and commodities made strong gains,
with oil up more than 3 percent, after a German court ruling
supported the German government’s bail-out efforts in the
crisis-stricken euro zone [MKTS/GLOB]
TORONTO, Sept 7 (Reuters) – The Canadian dollar
strengthened on Wednesday after the Bank of Canada warned of a
worsening global economic picture but was not as dovish about
interest rates as traders had expected.
In a policy shift, Canada’s central bank said there was
less need to raise interest rates because of slowing global
economic momentum, but policymakers also said Canadian growth
would resume in the second half of the year, with very
stimulative credit conditions a factor. [ID:nN1E786055]
TORONTO, Sept 2 (Reuters) – The Canadian dollar hit a
one-week low on Friday after the U.S. jobs report for August
came in far weaker than expected, reigniting fears about a
global growth slowdown and sending investors to safe-haven
The U.S. dollar also weakened against key currencies such
as the yen and Swiss franc [FRX] after news that U.S. employers
hired no new workers last month, against expectations for a
75,000 increase in payrolls. That sent government bond prices
higher and pushed stock markets into a global slump.