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Mar 27, 2012

Ontario targets labor costs in bid to cut deficit

TORONTO, March 27 (Reuters) – Ontario’s minority Liberal government put
corporate tax cuts on hold and pledged a renewed effort to rein in public sector
labor costs in an austerity budget designed to eliminate the deficit in six
years and convince rating agencies the province is fiscally sound.

Canada’s most populous province, which accounts for about 40 percent of the
country’s economy, will run a budget deficit of C$15.3 billion in 2011-12 under
the budget plan unveiled by Finance Minister Dwight Duncan, down C$700 million
from November’s forecast and below the record C$19.3 billion deficit three years

Mar 23, 2012

C$ tracks other risk assets into positive territory

TORONTO, March 23 (Reuters) – The Canadian dollar eked
out a small gain against the U.S. dollar on Friday, reversing
earlier losses as it tracked a broad rebound in the euro, world
stocks and commodities such as oil.

Investors appeared to set aside concerns about global growth
and largely ignored domestic inflation data.

Mar 21, 2012

C$ struggles in indecisive trade

TORONTO, March 21 (Reuters) – Canada’s growth-related
currency was little changed against the U.S. dollar on
Wednesday, lacking direction from flat U.S. equities and mixed
data signals.

U.S. stocks – a barometer of risk appetite for currencies –
failed to rise above recent highs and ended the day lower,
hampered by losses in risk-associated sectors like energy and

Mar 20, 2012

C$ slips to near 2-week low on China fears

TORONTO, March 20 (Reuters) – The Canadian dollar sank to a
near two-week low against its U.S. counterpart on Tuesday as
renewed concerns about China’s economic growth boosted the
greenback’s safe-haven appeal.

Global miner BHP Billiton said it saw signs that growth in
iron ore demand was flattening in China, sending global stock
markets down and bond prices up.

Mar 19, 2012

C$ rallies to two-week high against greenback

TORONTO, March 19 (Reuters) – The Canadian dollar jumped to
more than a two-week high against the U.S. currency on Monday,
helped by a rally in commodity prices and the prospect of more
takeovers of Canadian companies by foreign buyers.

U.S. crude oil futures rose on persistent worries about
supply disruption from Iran, firmer U.S. stocks and a weaker

Mar 15, 2012

Canadian dollar edges up on U.S. growth story

TORONTO, March 15 (Reuters) – The Canadian dollar
nudged higher against its U.S. counterpart on Thursday as a run
of U.S. economic data lifted riskier assets and easing U.S.
Treasury yields reduced some of the appeal of the greenback.

Canada’s role as the largest U.S. trading partner has
recently helped it outperform other major currencies as healthy
U.S. data and a more optimistic economic tone from the Federal
Reserve have boosted North American sentiment.

Mar 15, 2012

Ontario to release provincial budget March 27

TORONTO, March 15 (Reuters) – Ontario’s minority
Liberal government has set March 27 as the date for the Canadian
province’s next budget, which is expected to outline tough
austerity measures designed to rein in a C$16 billion ($16.1
billion) deficit.

Finance Minister Dwight Duncan said on Thursday that the
public should be prepared for “difficult choices”, and revealed
there will be hefty cuts in infrastructure spending in coming

Mar 15, 2012

Gold miners, banks help TSX rebound

TORONTO, March 15 (Reuters) – Canada’s main stock
index surged about 100 points higher on Thursday after a choppy
start, helped by a stream of U.S. data that signaled the economy
of Canada’s largest trading partner continues to mend and by
stabilizing commodity prices.

Among the top gainers were financials, up 0.7 percent, and
recently pummeled gold mining shares, up 1.2 percent.

Mar 15, 2012

Canadian business borrowing heats up in Q4-PayNet

TORONTO, March 15 (Reuters) – Canadian commercial
lending edged up for the fifth straight time in the final
quarter of last year and reached its highest since 2009,
suggesting a pickup in investment that should help keep the
economy growing.

PayNet, which tracks commercial financing to hundreds of
thousands of small and medium-sized companies, said on Thursday
its Canadian Business Lending Index rose 2 percent from the
third quarter and 14 percent year over year.

Mar 14, 2012

C$ slips in US$ rally but strengthens on crosses

TORONTO, March 14 (Reuters) – The Canadian dollar
dipped against the U.S. currency on Wednesday as the afterglow
of the Federal Reserve’s optimistic view of the U.S. economy and
news that most U.S. banks passed stress tests boosted the

The U.S. dollar hit an 11-month high against the yen and a
one-month peak versus the euro a day after the Fed upgraded its
economic outlook amid a stream of U.S. data signaling a
sustainable recovery.

    • About Claire

      "Claire Sibonney is a Toronto-based reporter covering markets, economics and asset management, as well as Ontario finance and politics. Sibonney was formerly a homepage editor for and prior to joining the company in 2005, she worked for the National Post and AOL Canada."
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