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Rio Tinto says Q4 iron ore prices to fall by 13.3%

The adjustment in pricing is related to the new pricing mechanisms which the major producers have implemented (over the Reuters newswires).

 Obviously this type of price decrease will have some sort of negative impact on currencies like the AUD, CAD and BRL as the year progresses. The AUD/USD has slipped 15 pips, now back below .9100.

By Sean Lee  || September 2, 2010 at 22:28 GMT
Category: All, Asia, Commodities || Tags: , , , , , || 7 comments || Add comment
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Canadian GDP slows more than expected

Q2 GDP fell to 2.0% versus the expected 2.5% while Q1 was revised lower to +5.8% from 6.1% previously.

By Jamie Coleman  || August 31, 2010 at 12:32 GMT
Category: All, Americas, Economy, Regions || Tags: || 0 comments || Add comment
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Dublin: Canadian FinMin Flaherty says overall this year Canada to have around 3% real GDP growth

  • In some Western countries we need to get used to period of modest growth of 2-3%, perhaps modestly higher
  • Asked if weakness in US econ data a cobncern says “sure”, cites Canada’s relaince on exports to US
  • Ireland has “sold” bank plan, has led EU in courageous fiscal reform decisions
  • Asked on S&P downgrade of Ireland, says he takes rating agency views with grain of salt (excellent!!!)
  • Says “Not a big fan” of Moody’s, S&P, says rating agencies part of the problem that caused crisis
By Gerry Davies  || August 26, 2010 at 07:11 GMT
Category: All, Economy, Europe, Geopolitics, Mkt News, Regions || Tags: , , || 1 comment || Add comment
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Canada retail sales +0.1% in June, May revised lower

The market had expected a 0.4% rise. Ex-autos, sales fell 0.5%.  Sales in May were revised 0.4% lower from the initial -0.2% reading.

By Jamie Coleman  || August 24, 2010 at 12:31 GMT
Category: All, Americas, Economy, Regions || Tags: || 1 comment || Add comment
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Bank of Canada report: Finds “significant net benefit” to Canadian economy from new global bank capital, liquidity standards

  • BOC estimates cumulative net benefits of new bank rules for Canada over time to be C$200 bln, or 13% of GDP
  • BOC says if total bank capital ratio increased by 2%, for example, Canada GDP level would rise 0.8% per year in long run

Wow, really!!  Personally found the stuff about the Daleks much more interesting……

By Gerry Davies  || August 18, 2010 at 16:37 GMT
Category: All, Americas, Central Banks, Economy, Mkt News, Regions || Tags: , || 1 comment || Add comment
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BHP Billiton goes hostile with Potash bid

Possible M&A flows lending the loonie some support.  USD/CAD presently at 1.0285 from North American close Tuesday up around 1.0330.

By Gerry Davies  || August 18, 2010 at 11:47 GMT
Category: All, Americas, Mkt News, Mkt Talk, Regions || Tags: , , || 1 comment || Add comment
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USD/CAD holding up; stops noted

USD/CAD sits at 1.0435, not far from session high 1.0440.  The C$ hasn’t been helped by the release of disappointing canadian trade data earlier.  Sources now reporting stops gathering through 1.0450.

By Gerry Davies  || August 11, 2010 at 13:53 GMT
Category: All, Europe, Mkt Talk, Regions, orders || Tags: , || 0 comments || Add comment
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Canadian June trade deficit C$ 1.13 bln

Versus C$ 0.70 bln deficit in May. Much worse than median forecast of C$ 0.3 bln deficit.

By Gerry Davies  || August 11, 2010 at 12:49 GMT
Category: All, Economy, Europe, Mkt News, Regions || Tags: || 1 comment || Add comment
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Canadian housing starts 189.2k in July

Down from revised 192.3k in June.  Data has helped pressure CAD, USD/CAD up at 1.0380 from around 1.0330 when I arrived.

Canadian June new housing prices +0.1%, down  from previous +0.3%, slightly below median forecast of +0.2%

By Gerry Davies  || August 10, 2010 at 12:25 GMT
Category: All, Economy, Europe, Mkt News, Regions || Tags: || 0 comments || Add comment
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Canadian July employment -9k

Weaker than median forecast of +15k.

Unemployment rate up at 8% from 7.9% in June, market having looked for no change.

Canadian dollar gets hit. USD/CAD up at 1.0235 having been as high as 1.0244.

By Gerry Davies  || August 6, 2010 at 11:02 GMT
Category: All, Economy, Europe, Mkt News, Regions || Tags: , , || 7 comments || Add comment
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