TORONTO/OTTAWA, Aug 16 (Reuters) – Canadian manufacturing
sales slid more than expected in June, while sales of existing
homes were flat in July, data on Tuesday showed, offering new
signals that the Canadian economy is slowing.
Also, the Conference Board of Canada released a survey
showing weaker corporate profits in the second half of the
TORONTO, Aug 16 (Reuters) – Canada’s dollar was weaker
against the U.S. dollar on Tuesday morning after disappointing
domestic factory sales figures added to a world backdrop of
slowing economic growth.
Worries about the global economy slowing more than expected
were highlighted by data that showed stagnant growth in
Europe’s powerhouse, Germany, which knocked stocks lower and
hit the euro. [MKTS/GLOB]
TORONTO, Aug 15 (Reuters) – Canada’s dollar finished more
than a penny higher against the U.S. currency on Monday, as a
solid rally in equity markets overcame disappointing U.S.
Toronto’s main stock market index notched its highest close
in more than a week, driven by bargain-hunting, optimism over
the euro zone debt crisis and acquisition activity on both
sides of the border. [.TO]
TORONTO, Aug 12 (Reuters) – Toronto’s main stock market
index held on to moderate gains on Friday morning as declining
gold-mining shares and poor U.S. consumer sentiment data cut
into an advance led by energy and financial shares.
U.S. consumer sentiment dropped to its lowest in more than
three decades, as fears of a stalled recovery combined with
despair over government policies, a separate survey released on
Friday showed. [ID:nN1E77B08W]
TORONTO, Aug 12 (Reuters) – Canadian banks, which only last
month expected the Bank of Canada to resume tightening this
fall, are pushing rate hike forecasts into next year following
some of the worst financial market turmoil since 2008.
RBC Capital Markets and BMO Capital Markets, both Canadian
primary dealers, confirmed on Friday that they now see interest
rates on hold until the second quarter next year.
TORONTO (Reuters) – A dovish U.S. Federal Reserve will likely force the Bank of Canada to keep its interest rates lower for longer, but market bets on a Canadian rate cut by year-end are unlikely to pay off.
Analysts said a rate cut would send all the wrong signals for an economy that is growing, albeit slowly, and could hurt the central bank’s credibility.
TORONTO (Reuters) – Market volatility is usually a tough pill to swallow but veteran energy financier Richard Grafton welcomes it because it can serve up buying opportunities as he hunts for high-growth energy stocks.
The chief executive of Grafton Asset Management said on Thursday that for his year-old Absolute Resource Energy Growth Fund, he seeks out small oil and gas companies that are likely to be takeover candidates eventually.
TORONTO, Aug 9 (Reuters) – Canada’s dollar firmed against
the U.S. currency on Tuesday in volatile trading after the U.S.
Federal Reserve said it will keep its hefty monetary policy
stimulus for at least another two years.
Canada’s currency CAD=D4 rose to a session high of
C$0.9860 to the U.S. dollar, or $1.0142, compared with Monday’s
North American session close at C$0.9909 to the U.S. dollar, or
TORONTO, Aug 9 (Reuters) – Canadian housing starts
unexpectedly climbed 4.3 percent in July, setting third-quarter
new home construction off to a strong start and maintaining its
role for now as a key support to the economy.
Starts, elevated by a big jump in construction of
multi-residential buildings such as condominiums, rose to a
seasonally adjusted annualized rate of 205,100 units, Canada
Mortgage and Housing Corp (CMHC) said on Tuesday.
TORONTO, Aug 9 (Reuters) – Canada’s dollar dropped below
parity with the U.S. currency for the first time in half a year
on Tuesday, but pared losses as hope mounted that the U.S.
Federal Reserve would offer some soothing words to shore up
Falling as low as C$1.0010 to the U.S. dollar, or 99.90
U.S. cents, it was the first time the Canadian currency has
been weaker than the greenback since Feb. 1.