Canadian GDP

June Opens on Hopeful Note

June 1, 2021

Manufacturing purchasing managers survey results reveal record growth in many cases, robust business optimism, but also inflationary pressure from demand outstripping supply. Euroland’s factory sector PMI was revised even higher to a record reading of 63.1. The Netherlands, Austria, Germany, Ireland, and Italy all scored above 62.0, and the lowest reading in the group — […] More

Start of a Fresh Month Sees Dollar Drop and Share Prices Resume Their Rise

December 1, 2020

A slew of manufacturing purchasing manager surveys taken in November were released today. Fed Chairman Powell and Treasury Secretary Mnuchin testify before the Senate Banking Committee today on the Cares Act. After dipping on Sunday, Covid cases and the death count turned upward over the past 24 hours both globally and in the United States. […] More

Lots of Data but Not Much Market Movement as Monthend Approaches

August 30, 2018

The dollar’s down 0.3% against the yen but up 0.2% relative to the loonie, euro, Aussie dollar and Chinese yuan. Ten-year sovereign debt yields have slid back 3 basis points in Germany, 2 bps in the U.S. and 1 basis point in Great Britain, but the 10-year Japanese JGB firmed a basis point. Gold and […] More

Dollar Down.. So Are Bond Yields, Stocks and Oil

March 2, 2018

The dollar fell nearly 1% overnight against the yen to a new 2018 low. The U.S. currency has also lost 0.8% versus the Swiss franc and 0.5% vis-a-vis the euro, and it has move under a key psychological trade-weighted level. The German Dax and Japanese Nikkei are down 1.3%. Ten-year German bund and British gilt […] More

Sovereign Debt Yields Lower on Last Business Day Before Christmas

December 23, 2016

Ten-year sovereign debt yields retreated four basis points in Germany and Italy, three bps in U.K., France and Canada and two bps in the United States. Japan’s market is shut to commemorate the Emperor’s birthday. The dollar slipped 0.2% overnight against the euro and yen but climbed against commodity-sensitive currencies and sterling. The greenback is […] More

OPEC Production Cut Accord Sets Tone for Wednesday’s Financial Markets

November 30, 2016

OPEC oil ministers in Vienna announced a 1.2 million barrel per day production cut to 32.5 mb/d. Saudi Arabia, Iraq and Iran are on board, and there’s reason to believe Russia will take actions to make the agreement work. It’s the first cut since 2008. Brent oil jumped above $50, and West Texas Intermediate crude […] More

A U.S. PMI Clunker

December 1, 2015

The Institute of Supply Management’s U.S. manufacturing purchasing managers index unexpectedly worsened in November and substantially at that.  The PMI declined 1.5 points, moving below the 50 no change threshold for the first time in three years and printing at 48.6, the lowest reading since the last U.S. recession ended in June 2009. Manufacturing PMI […] More

Some Pre-Christmas Data

December 23, 2013

Japan was closed for the Emperor’s Birthday holiday, and other markets are winding down ahead of their closures. Today saw more data releases than any other day this week, but market action has been unremarkable. The dollar fell 0.4% against the Canadian currencies and shows a dip of 0.1% relative to the euro, Swissie, kiwi, […] More

Some Downbeat North American Data

January 31, 2012

Canadian real GDP edged 0.1% lower in November.  This compares adversely with analyst forecasts of a 0.2-0.3% increase and left output in November only 0.7% above that in August expressed at an annualized rate.  Over the previous three months from May to August, GDP had advanced 4.4% annualized, so a rapid deceleration of economic momentum […] More

Huge Deterioration of Canadian Growth and Current Account

August 31, 2011

Canada’s current account deficit widened 52.2% between the first and second quarters and to 3.6% of GDP from 2.4% of GDP.  Net exports exerted a gargantuan 5.7 percentage point drag on GDP growth in the second quarter, as exports sank 8.3% annualized while imports advanced 10.0%.  Consequently, real GDP unexpectedly contracted 0.4% annualized last quarter, […] More