Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Major News For The May-3 Week

ByThe National Bank of Canada
Published 06/04/2013, 08:31 AM
Updated 05/14/2017, 06:45 AM
CL
-
NWSA
-
SKAGI
-

Last Wednesday, Mark Carney gave his last speech as Governor of the Bank of Canada. He said that the Bank’s monetary policy should remain stable for some time, with the key interest rate at 1%. He also acknowledged that the Canadian economy has been growing faster than the Bank’s most recent forecasts. This was confirmed on Friday with the release of the Gross Domestic Product figure for the first quarter of 2013; it was 2.5% (annualized), which was higher than expected. The main reason was growing exports of crude oil products to the U.S. On Thursday, the International Monetary Fund scaled back its growth forecast for China, from 8% to 7.75%, and on Friday we learned that the economy of the eurozone has not improved, and its unemployment rate has reached an unprecedented 12.2%.
Forecast Previous
The Loonie
Last week proved to be highly eventful, and the month that ended on Friday was full of surprises for the Canadian dollar. The loonie failed to reach parity in early May and now opens the month of June at its highest level against the greenback seen in 12 months. Looking only at the foreign exchange markets, one could conclude that very little has changed over the last year, but in fact Canada’s economic landscape has been transformed over the last few months. The Canadian economy, which held an enviable position among the world’s developed countries, seems to have lost ground vis-à-vis our trading partner to the south. We will therefore take a brief look at Canada’s economic track record.

To Read the Entire Report Please Click on the pdf File Below.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.