The Canadian labor market continues to roar back to life. Canadian job creation rose from 246 thousand jobs in August to 378 thousand in September, which represents a marked beat relative to expectations of 150 thousand new jobs…
BCA Research's Foreign Exchange Strategy service expects the loonie to touch 80-82 cents but underperform the Australian dollar, Swedish krona, and Norwegian krone. Go short CAD/NOK for a trade. The key reason for the…
Highlights Currency markets remain vulnerable to the upcoming US election, Brexit, and a resurgence of Covid-19 infections. Meanwhile, President’s Trump suggested “piecemeal” fiscal deal increases the odds of a…
As expected, the Bank of Canada stood pat on the rate front yesterday. The BoC also reiterated its stance to keep borrowing costs at the effective lower bound until economic slack is absorbed and the 2% inflation target is…
To all clients, Next week, in lieu of publishing a regular report, I will be hosting a webcast on September 15th at 10 am EDT, discussing our latest views on global fixed income markets. Sign up details for the Webcast will…
A tactical trading opportunity has also opened up to go short the NZD/CAD cross. First, the New Zealand stock market is the most defensive in the world, given the high concentration in consumer staples, healthcare and telecom…
The Canadian equity market continues to underperform the global benchmark. Canadian stocks suffer from three handicaps. First, Canada is underweight the tech sector, which has been the undoubted market leader over the past 10…
The Canadian labor market continues to heal. In June, Canada generated 952 thousand positions, beating expectations of 700 thousand. Positively, a little over half of these jobs were in full-time positions. Additionally, the…
The Bank of Canada Business Outlook Survey (BoS) for Q2 was inordinately weak. The overall number fell to -7 and the Outlook for Future Sales reading tanked to -35, levels reminiscent of the GFC. Moreover, the Capacity Pressures…