Canada’s Housing Market Rebounds
Existing home sales during the second quarter rose 31.5 percent over the same time last year, while prices jumped 3.6 percent in June to a record C$326,613 (US$281,177). More
Greater Appetite for Risk Hurts Yen
The yen fell today as positive earnings reports – particularly the news that Goldman Sachs beat expectations – helped convince investors to abandon the yen in favor of higher yielding currencies including the Canadian and Australian dollars. More
Obama Predicts Unemployment to Grow
During a speech at a Michigan college, President Obama today said that unemployment will continue to grow, adding that new jobs will require greater training and post-high school education to achieve a better skilled work force.
“We will not fill those jobs Ã¢â‚¬â€ or keep those jobs on our shores Ã¢â‚¬â€ without the training offered by community colleges,” Obama said. More
Canadian Dollar Set to Outperform US Dollar
Standard Chartered Plc upgraded its short-term rating on the Canadian dollar to “overweight” from neutral on the expectation of increased foreign investment.
Ã¢â‚¬Å“The four main negative factors which have pressured the Canadian dollar — growth contraction, capital outflows, interest-rate spreads and the external surplus — have abated,Ã¢â‚¬Â wrote Callum Henderson, head of global currency strategy at Standard Chartered in Singapore. Ã¢â‚¬Å“There are signs of capital inflows accelerating once more.Ã¢â‚¬Â More
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