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Monday
01Mar2010

Economy grew 5 percent in fourth quarter of 2009

DateMonday, March 1, 2010 at 12:01PM

Canada's gross domestic product (GDP) grew at an annualized rate of 5.0% in the fourth quarter of 2009, up from 0.9% in the third quarter, Statistics Canada reported today. The US economy grew by 5.9% in the same period.

Consumer spending continued to grow for a third consecutive quarter, with domestic demand up 1.1%., led by personal expenditures, government expenditures and the housing market. The price of goods and services also rose 1.1%, especially for residential structures, motor fuels and energy products. Purchasing power grew 2.1%, and labour income rose 1.4%, the largest increase since the first quarter of 2008. Corporate profits were also up 0.9%.

Exports and imports both rose, with exports outpacing imports. Demand for motor vehicles and household furniture and equipment rose 2.6%.

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Thursday
25Feb2010

Protecting Yourself When Internet Banking

DateThursday, February 25, 2010 at 6:46PM

By Glen Anthony Brown

Internet banking is becoming a larger part of any individual's daily banking routine with the ease and convenience of this service allowing people to manage their finances all from the comfort of their own computer.

Online banking is the new face of the banking industry with bank customers now able to pay bills, check balances, manage credit cards and transfer funds online for free at their own convenience while banks utilize the online option as a cheap alternative to over-the-counter services.

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Tuesday
23Feb2010

Financial Planning For Business Owners 

DateTuesday, February 23, 2010 at 10:51AM

By Peter Merrick

Business owners are not looking for financial advisors to give them the life they want by making a killing in the stock market; these people have been able to create the life they want by themselves. In the early 1990s, at the beginning of my financial planning career, I was very fortunate to meet one of Canada's most successful businessmen. He was in his late 50s and had much more life experience than me. He shared that 99.9 per cent of the investment advisors he had met over the course of his career did not have the foggiest idea of how to make money nor did they understand what successful business people were looking for when they sought out professional advice.

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Monday
22Feb2010

Currency Arbitrage 

DateMonday, February 22, 2010 at 2:23PM

By Paul Bryan

A very simple meaning of arbitrage would be getting something from nothing! If you are surprised then don't be, for that's what arbitrage is. Technically, however, it can be defined as a synchronized purchase and sale of a security which will provide you with a profit derived from the price difference between the two.  

Here is a small example to show how it works. Let's imagine that the price of a stock on the NYSE is $15 per share, but the price of the same share is $10 per share in the Frankfurt exchange. Now the difference of a $5 could mean an instant profit for you requiring zero investment.  

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Friday
19Feb2010

Daily Foreign Exchange Report

DateFriday, February 19, 2010 at 1:44PM

By Warren Hayhoe,

Columnist, Canadian Money Magazine

Central Trader, Jameson Bank

USD/CAD 1.0500       
GBP/CAD 1.6177
EUR/USD 1.3516
GBP/USD 1.5399
CAD/EUR 1.4193
JPY/CAD 0.011453
Oil opened at $78.37, currently $78.75
Gold opened at $1108.40, currently $1110.60
CRB closed at 276.15, +2.31

Today:

  • Commodities, Oil, and Gold fall as the US Dollar climbs after the Fed rate hike cause market to refrain demand and seek refuge  Rate hike signaling end of stimulus measures to supply liquidity to financial markets.
  • Canadian retail sales strongly up 0.4% in December. Canada monthly Job Insurance Claims decline 2% in December.
  • US January CPI up 2.0%, Core CPI (minus food, energy) down 0.1%, seen as somewhat a muted inflation report.

Observations:

Stock index futures are pointing to a lower open on Wall Street but were well off their lows as investors reacted to a surprise move by the Federal Reserve to hike its discount lending rate to banks. Canadian core retail sales came in line with the forecast, rising by 0.4%. In the US, core CPI declined by 0.1% suggesting that inflation is not an issue for the FED. The greenback strengthened yesterday afternoon after the discount rate hike against the major currencies including the euro and the loonie.

Yesterday:

  • Canadian CPI met its target area of 2.0% YoY for the core, although this will not signal a rate hike

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Friday
19Feb2010

Retail sales up 0.4% in December

DateFriday, February 19, 2010 at 10:44AM

Stronger sales in the month leading up to Christmas pushed retail sales up 0.4% in December, to $35.5 billion, Statistics Canada reported today. This continues a trend that began early in 2009. Sales were up in six provinces, with Alberta showing the strongest gains at 1.8%.

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Thursday
18Feb2010

Inflation up 1.9% in 2009, mainly on higher fuel costs

DateThursday, February 18, 2010 at 10:49AM

Canada's inflation rate rose 1.9% in the twelve months to January, following a 1.3% rise in December, 2009, Statistics Canada reported today. The increase in the Consumer Price Index (CPI) is mainly due to gasoline prices, which in January were 23.9% higher than twelve months ago. Energy prices overall rose 8.2% between January, 2009 and January, 2010.

Six of the major components of the CPI showed increases during the twelve-month period: the exceptions were shelter, and clothing and footwear. Shelter costs declined 1.1% as a result of lower mortgage interest costs, and natural gas prices. Women's and children's clothing prices were down 6.8% and 4.8% respectively.

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Wednesday
17Feb2010

Wholesale sales increase in December in six of seven sectors

DateWednesday, February 17, 2010 at 10:37AM

Wholesale sales increased by 0.7% in December, to $42.8 billion, Statistics Canada reported today. Measured by volume, the increase in wholesale sales is 1.5%, the difference representing lower prices for automotive products, machinery and electronic equipment. This is the sixth increase in seven months.

The higher sales were widespread; only the personal and household goods sector declined. Machinery and electronic equipment contributed most to the growth with a 1.2% increase to $8.8 billion. This sector includes machinery and equipment, computers and other electronic equipment, and office and professional equipment.

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Tuesday
16Feb2010

Morning Foreign Exchange Report

DateTuesday, February 16, 2010 at 11:29AM

By Warren Hayhoe,

Columnist, Canadian Money Magazine

Central Trader, Jameson Bank

USD/CAD 1.0445         
GBP/CAD 1.6354
EUR/USD 1.3665
GBP/USD 1.5674
CAD/EUR 1.4266
JPY/CAD 0.011589
Oil opened at $74.02, currently $75.51
Gold opened at $1093.70, currently $1117.60
CRB closed at 267.92, -1.79

Today:

  • Jim Flaherty said to Tighten Canada’s mortgage industry rules for first time home buyers amid further bubble talk.
  • Canadian manufacturing sales rose slightly less than expected in  December, driven by gains in sales of cars and aerospace products.
  • Foreigners bought US assets steadily in December, but the pace was slower than a month before as investors dumped bills at a record level.

Observations:

Investors return from the three-day holiday and stock index futures are pointing to a strong start for the broader markets. Futures were positive though off their highs for the morning after Kraft Foods reported

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Tuesday
16Feb2010

Transportation equipment industry pushes manufacturing sales higher in December

DateTuesday, February 16, 2010 at 11:21AM

Canada's manufacturing sector saw increased sales of 1.6% to $43.0 billion in December, Statistics Canada reported today, the increase in seven months and the highest level since December, 2008. Sales advanced in eleven of the twenty-one manufacturing industries.

Most of the gains were in the transportation equipment industry, including aerospace products and parts, which rose 28.1%, motor vehicles, up 4.4% to $3.6 billion, and the petroleum and coal products industries, up 2.4%, reflecting greater sales volumes by refineries.

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Monday
15Feb2010

Which Forex Currency Pair Should You Trade? 

DateMonday, February 15, 2010 at 12:03PM

By B L Hill

In Forex, cash is traded for cash. Euros are traded for dollars, dollars for yen, yen for euros and so on. There are dozens of trading pairs, just as there are dozens of currencies around the world that participate in the currency exchange markets. Forex trading is always about buying one currency and selling another one simultaneously.

Some currency pairs are more popular than other currencies and you may see those referred to as the 'majors.' This is information that you will need to know when you want to be a part of Forex currency trading.

 

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Friday
12Feb2010

EU/IMF Revolt - Greece, Iceland, Latvia May Lead the Way

DateFriday, February 12, 2010 at 11:07AM

By Ellen Brown

Total financial collapse, once a problem only for developing countries, has now come to Europe. The International Monetary Fund is imposing its "austerity measures" on the outer circle of the European Union, with Greece, Iceland and Latvia the hardest hit. But these are not your ordinary third world debtor supplicants. Historically, the Vikings of Iceland successfully invaded Britain; Latvian tribes repulsed the Vikings; and the Greeks conquered the whole Persian empire. If anyone can stand up to the IMF, these stalwart European warriors can.

Dozens of countries have defaulted on their debts in recent decades, the most recent being Dubai, which declared a debt moratorium on November 26, 2009. If the once lavishly-rich Arab emirate can default, more desperate countries can; and when the alternative is to destroy the local economy, it is hard to argue that they shouldn't. That is particularly true when the creditors are largely responsible for the debtor's troubles, and there are good grounds for arguing the debts are not owed. Greece's troubles originated when low interest rates that were inappropriate for Greece were maintained to rescue Germany from an economic slump. And Iceland and Latvia have been saddled with responsibility for private obligations to which they were not parties.

 

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Thursday
11Feb2010

Foreign Exchange Risk Management Methods 

DateThursday, February 11, 2010 at 10:52AM

By Grant Grady

Veteran and amateur traders alike must understand foreign exchange risk management methods if they hope to have any chance of financial success in the long run.

Unfortunately, many traders do not think about foreign exchange risk management at all. Or if they do, they only think about market risk. Serious traders understand there are at least 5 types of risk associated with trading forex, and market risk is only one small one.

In this article we'll explore the 5 different types of risk you're exposed to when trading the forex markets, and ways you can lessen, or even eliminate, your exposure.

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Wednesday
10Feb2010

Canada's trade deficit up in December; auto sector shows strength

DateWednesday, February 10, 2010 at 11:30AM

Canada's trade deficit with the rest of the world increased to $246 million in December from $201 million in November, as imports increased more than exports, Statistics Canada reported today. Imports increased 1.8% while exports rose 1.7%, both mainly driven by automotive products.

 

 The value of exports grew to $32.2 billion in December, from $31.7 billion in November, the fourth consecutive monthly gain, with a 2.8% increase in volume accounting for the difference, as prices actually dropped slightly. Two-thirds of the growth was in automotive products, with machinery, equipment and energy products contributing the rest. Exports of industrial goods and materials declined.

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Tuesday
09Feb2010

Morning Foreign Exchange Report

DateTuesday, February 9, 2010 at 9:26AM

By Warren Hayhoe,

Columnist, Canadian Money Magazine

Central Trader, Jameson Bank

USD/CAD 1.0689               
GBP/CAD 1.6683
EUR/USD 1.3731
GBP/USD 1.5614
CAD/EUR 1.4673
JPY/CAD 0.011937
Oil opened at $71.68, currently $72.53
Gold opened at $1062.40, currently $1074.50
CRB closed at 261.52, +2.97

Today:

  • While focus is on the Eurozone, some concerns over Fannie/Freddie loom, as the state’s ailing housing giants already consumed $51bln of gov’t money, and it’s likely to need even more; partnered with no blueprints for its future or clear exit strategy for the gov’t added to issues.
  • In early morning trade Oil, the Euro, and metals gain on Greece Aid speculation.
  • Reports that lawsuits against Toyota will push the cost of recalls linked to faulty manufacturing in its accelerator and brakes passed the estimate of $2bln for warranty costs and lost sales.

Yesterday:

  • Canada’s housing starts rose 5.8 percent in January to a seasonally adjusted rate of 186,000 units from 176k in December. Few analysts raise worries over facing a potential short term bubble.

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Monday
08Feb2010

7 RRSP Planning Tips 

DateMonday, February 8, 2010 at 10:50AM

By Marco Consoli

Contributing to your RRSP is one of the most beneficial and efficient ways to both save for retirement and reduce your taxes.

RRSPs offer immediate tax relief by lowering your taxable income. There are also ways to lower how much tax your employer withholds from your pay-cheques ensuring that you do not over-pay on your income tax - which is essentially providing the government with an interest free loan for the year.

RRSPs are also designed with the objective of long-term investing. The very nature of this type of investment vehicle is such that there is great incentive to avoid "dipping" into your savings. This encourages individuals to stay invested over the long-run and reap the full benefits of market activities. Remember, the tortoise wins the race.

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Monday
08Feb2010

Morning Foreign Exchange Report

DateMonday, February 8, 2010 at 9:29AM

By Warren Hayhoe,

Columnist, Canadian Money Magazine

Central Trader, Jameson Bank

USD/CAD 1.0710
GBP/CAD 1.6696
EUR/USD 1.3661
GBP/USD 1.5590
CAD/EUR 1.4633
JPY/CAD 0.011993
Oil opened at $72.18, currently $71.53
Gold opened at $1068.30, currently $1066.50
CRB closed at 258.55, -5.12


Today:

  • Canada’s housing starts rose5.8 percent in January to a seasonally adjusted rate of 186,000 units from 176k in December. Few analysts raise worries over facing a potential short term bubble.
  • Eyes remain fixed on the likelihood that China may raises its rates soon as it aims to limits inflation to about 3%.
  • Former Federal reserve Chairman Alan Greenspan said a US recovery is “going to be a slow, trudging thing,” and that is “very concerned” if stock prices continues its declines.

Last Friday:

  • Canadian employment rose more than expected in January, mainly led by part time positions.  Jobless rate drops to 8.3%.

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Friday
05Feb2010

Morning Foreign Exchange Report

DateFriday, February 5, 2010 at 10:10AM

By Warren Hayhoe,

Columnist, Canadian Money Magazine

Central Trader, Jameson Bank

USD/CAD 1.0691
GBP/CAD 1.6738
EUR/USD 1.3690
GBP/USD 1.5659
CAD/EUR 1.4625
JPY/CAD 0.011939
Oil opened at $73.04, currently $73.50
Gold opened at $1065.70, currently $10602.0
CRB closed at 263.67, -6.91

Today:

  • Canadian employment rose more than expected in January, mainly led by part time positions.  Jobless rate drops to 8.3%.
  • US employment fell 20k, unemployment fell to 9.7% from 10%. Jobs lost were offset by a positive jobless rate.
  • The G7 finance ministers and central bankers meet in Iqaluit, Canada to discuss monetary and fiscal policies.

Yesterday:

  • The BOE and ECB kept their interest rates unchanged.  BOE suspends bond-buying, as the UK economy started showing signs of growth.

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Friday
05Feb2010

Unemployment drops in January with new part-time jobs

DateFriday, February 5, 2010 at 10:03AM

Employment increased in January as 43,000 new part-time jobs, mostly for women aged 25–54, and youths, pushed the unemployment rate down 0.1 percentage point to 8.3 percent. This is the fourth month of employment gain in six months, though employment remains 280,000 below the level of October, 2008. Full-time employment was little changed in January, according to Statistics Canada's latest employment report.

The greatest gains in employment in the month (+ 34,000 jobs) were in business, building and other support services, and retail and wholesale trade (+ 23,000 jobs). There were losses in professional, scientific and technical services, and in agriculture (- 22,000 jobs).

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Wednesday
03Feb2010

Understanding the Real Estate Market Cycle and Uncovering Hot Emerging Markets

DateWednesday, February 3, 2010 at 2:45PM

By Carl Schiovone

No study of real estate investing would be complete without a comprehensive understanding of markets and how those markets are affected by economic conditions. Only through an understanding of this critical topic can the Investor properly understand their risk exposure and implement strategic investment planning and effective risk mitigation techniques.

Market Cycles

The following section will provide an overview of the four major phases of a real estate market cycle. Although each of these phases have specific characteristics that make them stand apart from one another, unfortunately, the initial transitions in and out of each phase may not be plainly obvious. The four market phases are listed below:

- Sellers Market I (Expansion) 
- Sellers Market II (Equilibrium) 
- Buyers Market I (Decline) 
- Buyers Market II (Absorption)

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