From Reuters: March 29 (Reuters) – Canada’s main stock index was trading flat on Friday, as losses in heavyweight financials offset gains in energy stocks and BlackBerry shares.
From Zacks: On Oct 24, the Bank of Canada (BoC) raised its key interest rate by a quarter point to 1.75%, marking its third rate hike this year and fifth from 2017, when it started to raise rates.
From Franklin Templeton Investments: After more than a year of tense talks, Canada, Mexico and the United States have replaced the North American Free Trade Agreement (NAFTA). Franklin Templeton Multi-Asset Solutions’ Stephen Lingard gives his take on the new trilateral trade pact and explains why it could benefit select Canadian companies.
From Chris Kimble: Since 2011, the Canadian Dollar has been hit hard, losing nearly a third of its value, while creating a series of lower highs and lower lows.
From Zacks: Consumer prices in Canada beat analysts’ expectations last month, reaching the highest level since October 2014. Rising inflation and low unemployment have increased the odds of the Bank of Canada hiking borrowing costs faster than anticipated.
From Zacks: The Bank of Canada (BoC) announced last week that it was raising its benchmark interest rate by 25 basis points, the third time since July 2017. The key interest rate was hiked to 1.25% in the recent monetary policy meeting, the highest since 2009.
From Zacks: Canada’s GDP growth remained unchanged in October compared with economists’ forecast of a 0.2% increase and a rise of 0.2% in September. The Canadian dollar weakened following the release of the report.
From Zacks: Canada’s consumer prices increased 1.4% year over year in October compared with 1.4% in September, primarily owing to small increases in gasoline prices.
From Zacks: Canada’s GDP growth was flat month over month in July compared with a 0.3% rise in June and below economists’ forecast of a 0.1% increase.
The iShares MSCI Canada Index ETF (NYSE:EWC) will be in heavy focus over the next couple of weeks, as the Bank of Canada weighs a potential interest rate hike.
From Zacks: The Bank of Canada seems to be having enough confidence in the country’s economy to hike interest rates. The Senior Deputy Governor of the central bank stated that rates have been extraordinarily low for a long time and that the goal had been achieved in order to combat dwindling oil prices.
Canada’s largest stock index has been buoyed this year largely on the back of a handful of mega-cap stocks outperforming the wider markets.
From John Rubino: One of the interesting things about the Great Recession was how Canada’s financial system sailed through it largely unscathed.
From Mike Burnick: On his very first day in the Oval Office, President Trump made good on his campaign promise to rip up unfavorable trade deals, as my friend and colleague Larry Edelson previously noted.
From Sean Brodrick: Canadian stocks are cheap. But I wonder for how much longer. Let me show you what I mean in two charts.