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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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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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Wednesday
03Feb2010

Is "Buy and Hold" the Best Way to Grow Wealth?

DateWednesday, February 3, 2010 at 1:44PM

By Jeff Stoffer

"Buy and hold is dead!" critics claim.

Once believed to be the best way for investors to accumulate wealth over the long term, "buy and hold" portfolios took a pounding in the recent bear market. The cries came out loud and clear that the old truth was wrong and "buy and hold" as an investment strategy was dead.

Those declaring it dead had some good points. Two devastating bear markets in the first decade of the 2000s left stocks lower than where they were when it started. That's right: the S&P 500, a diverse index of large US companies, is 24% lower than it was 10 years ago. Holding through this period clearly has gained us nothing.

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Tuesday
02Feb2010

Fixing the Banks - A New Approach to National Banking Regulation

DateTuesday, February 2, 2010 at 11:34AM

By Jim Personius

A strong economy needs a strong financial services sector. A strong financial services sector needs strong, viable, and competitive banks. Today's American banking sector is in near collapse. The federal government has practically nationalized the big banks. The FDIC is nearly bankrupt. According to the FDIC's Failed Bank List, the FDIC has closed 112 banks in the past year. From 2000 through September 2008, they closed 40 banks.

The banks have destroyed the housing sector. After Fannie Mae and Freddie Mac inspired loose lending, neighborhoods and cities across the country are being destroyed by foreclosures and banking processes that are driving down housing values even more. Sudden caps on equity lines, refusing short sale offers, then foreclosing, not maintaining foreclosed properties, and not paying assessments are destroying home values and killing the consumer economy.

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Tuesday
02Feb2010

Technical Analysis: USD/CAD Bearish Trend Line Decisively Broken

DateTuesday, February 2, 2010 at 9:37AM

By Seth Harvey, Jameson Bank

Likely to the delight of EDC Chief Economist and Vice-president Peter Hall; and certainly to the chagrin of revered trader Dennis Gartman, it appears as though the recent strengthening of the Canadian dollar versus the US Dollar is reversing.

Since mid July, through normal oversold valleys and correctional peaks, we have observed a distinct bearish directional bias in USD/CAD.  This down trend was initially breached on Jan 26th as CAD slid over 125 pips closing the day at 1.0624 (94.12). 

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Tuesday
02Feb2010

Morning Foreign Exchange Report

DateTuesday, February 2, 2010 at 9:33AM

By Warren Hayhoe,

Columnist, Canadian Money Magazine

Central Trader, Jameson Bank

USD/CAD 1.0607
GBP/CAD 1.6897  
EUR/USD 1.3938
GBP/USD 1.5931
CAD/EUR 1.4782
JPY/CAD 0.011715
Oil opened at $74.94, currently $75.16
Gold opened at $1107.30, currently $1111.80
CRB closed at 267.98,  +2.39

Today:

  • Obama’s budget announcement proposes a $1.9 trl tax increase on the richest and businesses.
  • Suncor(Canada’s largest oil company) posts 4Q profit after crude oil gains; Canadian dollar shows little move.
  • US Pending Homes Sales report will be released at 10am, expected to show increase after 16% drop last month; at the same time Treasury Secretary Tim Geithner is due to testify on the Fiscal 2011 budget in Washington.

Yesterday:

  • Obama to add another $100 bln in additional stimulus spending in his budget report today, proposing a $3.8 tln fiscal 2011 budget today, resulting in a projected this year’s deficit will hit a record $1.6 tln.

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Monday
01Feb2010

Environmental Entrepreneurialism the New Wave of Green Business Strategy

DateMonday, February 1, 2010 at 4:14PM

By Stefan Doering

Only when the last tree has died and the last river been poisoned and the last fish been caught will we realize we cannot eat money. 
-Cree Indian Proverb

2001 was when it first hit him. He was in a public rest stop on a highway in upstate New York using the men's room. While there, he noticed a big poster on the wall saying "Proud to be cleaned by Lysol".

He thought to himself, "They're proud to be using Lysol? That's horrible!" [Note: Lysol has known carcinogens- chemicals quite toxic to humans.] Cleaners in public spaces should be all natural and non-toxic for all involved. Including the planet.

Shortly thereafter he started Ecologic Solutions, Inc.in his apartment. Eight years later it is one of the most successful all-natural commercial cleaning supply companies in the country with 100% annual sales growth for the past three years. Rejecting a corporate buyout offer, they are wrapping up a multi-million dollar round of investment financing.

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Monday
01Feb2010

Obama's record $3.8 trillion budget juggles deficit reduction, job creation

DateMonday, February 1, 2010 at 12:08PM

President Barack Obama's proposed budget for 2011, a record $3.8 trillion, depends on an improving economy and the willingness of Congress to approve domestic spending cuts and increased taxes for some Americans to achieve its aim of taking control of the US deficit. The challenge for the president is to continue to stimulate the fragile economy and spur job creation—unemployment remains at 10%—while reining in government borrowing. A deficit of $1.6 trillion in the year ending September 30 represents almost 11% of gross domestic product, a percentage considered dangerously high and unsustainable over time by economists, who say that the deficit should not be higher than 3% of GDP. The Obama budget will require an additional $1.3 trillion of new borrowing now, but projects cutting the deficit in half, to about $700 billion, by 2014.

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Monday
01Feb2010

Morning Foreign Exchange Report

DateMonday, February 1, 2010 at 9:41AM

By Warren Hayhoe,

Columnist, Canadian Money Magazine

Central Trader, Jameson Bank

USD/CAD 1.0674
GBP/CAD 1.7008 
EUR/USD 1.3924
GBP/USD 1.5930
CAD/EUR 1.4862
JPY/CAD 0.011821
Oil opened at $72.84, currently $73.53
Gold opened at $1081.90, currently $1089.40
CRB closed at 265.59, -1.99
 
 

Today:

  • Obama to add another $100 bln in additional stimulus spending in his budget report today, proposing a $3.8 tln fiscal 2011 budget today, resulting in a projected this year’s deficit will hit a record $1.6 tln.
  • US consumer spending increased in December for a third straight month; while Institute of Supply Mgt releases its PMI report on business at 10am, expected to show expansion in manufacturing.
  • Toyota releasing field remedy kits to fix the flawed accelerator pedals to prevent sticking that triggered a giant recall last week. Spokesman for Toyota is confident in the durability and says dealers should be getting them as early as Friday.

Friday:

  • US real GDP figures came out beating expectations by 1.2%. Inc Canada, the GDP came also in the upside, advancing 0.4%.

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Friday
29Jan2010

Earthquake Relief and Recovery Efforts in Haiti - True Or False, Know Which Ones to Use Or Lose

DateFriday, January 29, 2010 at 3:58PM

By Lisa Carey

Following the devastating earthquake in Haiti, Former Presidents Bush and Clinton went to GoDaddy to set up websites to collect donations for relief and recovery efforts in Haiti. Bush and Clinton weren't alone. Over 400 domain names were registered in a week following the disaster in Haiti with website names that refer to Haiti with names that include "earthquake," "help," "victim," "survivor" and "aid." While the response to help is amazing, givers need to beware that even in, and sometimes especially in, times of crisis, not all of those that seek donations are doing so on the up and up.

Art Taylor, president of the Wise Giving Alliance at the Better Business Bureau (BBB), explains on their website that "Whenever there is a natural disaster, there are two things you can count on. The first is the generosity of Americans to donate time and money to help victims, and the second is the appearance of poorly run, and in some cases fraudulent, charities."

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Friday
29Jan2010

GDP grows 0.4% in Canada: US economy posts stunning 5.7% growth for fourth quarter

DateFriday, January 29, 2010 at 10:36AM

Canada's gross domestic product rose 0.4% in November, the third consecutive monthly increase. The growth was broad-based, seen in increased production in most major industrial sectors, but mining, including oil and gas extraction, and wholesale trade accounted for 60% of the overall growth.

Foreign demand for oil was responsible for the mining sector's 1.8% increase in output. Production of copper, nickel, lead and zinc was also up for the month.

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Thursday
28Jan2010

Daily Foreign Exchange Report

DateThursday, January 28, 2010 at 6:46PM

By Warren Hayhoe,

Columnist, Canadian Money Magazine

Central Trader, Jameson Bank

USD/CAD 1.0590
GBP/CAD 1.7211 
EUR/USD 1.4000
GBP/USD 1.6249
CAD/EUR 1.4825
JPY/CAD 0.011744
Oil opened at $73.75, currently $74.10
Gold opened at $1087.00, currently $1095.90
CRB closed at 268.76, -5.12

Today:

  • US Core Durable Goods Orders came out at 8:30 better than expected continuing its winning streak to 2 months.
  • US Employment Claims also came out at 8:30 and missed expectations , coming in almost on par with last week’s reading.
  • This afternoon holds some natural gas numbers that could help to stoke the small gains in commodities this morning.

Yesterday:

  • FOMC Meeting yielded little change in terms of monetary policy and it seems US interest rates will remain exceptionally low for most of 2010.

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Thursday
28Jan2010

Is the Financial Crisis Really Over?

DateThursday, January 28, 2010 at 2:53PM

By Stanley Epstein

What is the risk of another financial crisis? The dust has begun to settle. The turbulent events of the past two and a half years seem to be over and the world is looking forward to a period of renewed stability and growth. Across most of the world there are plans afoot for the reform of the banking system to "fix" it so that the dreadful events that we were witness to so recently will not happen again.

2010 - The start of the second decade of the twenty first century is seen as a symbol of hope and a brighter future.

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Thursday
28Jan2010

Trading Forex - The World's Largest Market is Now Open to the Masses

DateThursday, January 28, 2010 at 2:39PM

By Sarah Reed

The forex market is without question the largest asset market in the world. Globally, two trillion US dollars are traded every day. At such a size, the forex market dwarfs any other asset market. It is approximately 50 times the size of the equities markets and 15 times the size of the bond market. With such astronomical volume, the forex market is by far the most liquid of all markets.

Up until quite recently, trading in this two trillion US dollar market has been the preserve of the large banks and large financing houses. However now small retail investors are getting access to play and share in the wealth building potential of this market. So what has changed?

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Thursday
28Jan2010

Ford reports $2.7 billion profit for 2009

DateThursday, January 28, 2010 at 11:49AM

The Ford Motor Company reported a profit of $2.7 billion for 2009, a year Ford's CEO Alan Mulally calls "pivotal" for the company. The last full-year profit for Ford was in 2005. Mulally predicts that 2010 will also be a profitable year. Fourth quarter profit was $868 million (25 cents per share) on revenue of $35.4 billion, making it the best quarter of the year, with a 33% jump in December sales. It has to be noted that December sales across the board benefitted from extraordinary offers from dealers (up to 50% off for some GM products) and a flood of bargain-hunting shoppers. Ford's revenue for the year was $118.3 billion. In 2008, the company lost $14.8 billion.

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Wednesday
27Jan2010

Daily Foreign Exchange Report

DateWednesday, January 27, 2010 at 8:29PM

By Warren Hayhoe,

Columnist, Canadian Money Magazine

Central Trader, Jameson Bank

USD/CAD 1.0650
GBP/CAD 1.7271 
EUR/USD 1.4038
GBP/USD 1.6197
CAD/EUR 1.4961
JPY/CAD 0.011921
Oil opened at $74.69, currently $74.84
Gold opened at $1094.50, currently $1093.40
CRB closed at 273.88, -2.86

Today:

  • US Fed Chairman Ben Bernanke looks set to clinch a second term despite vocal opposition.
  • December’s US New Home sales report to release at 10am.
  • All eyes look forward to the FOMC rate announcement today at 2pm.  Expected to leave rates unchanged and for a while longer.  Discussions on the  mortgage-buying program scheduled to end in March will draw worry if its end could harm the recovery process.

Yesterday:

  • Fed Officials consider instituting UK styled, new benchmark interest rate to replace  or supplement their 20yr old rate with an interest paid on excess bank reserves.

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Wednesday
27Jan2010

Toyota Puts Brakes to Production on 8 Models; Faulty Part Manufactured in Canada

DateWednesday, January 27, 2010 at 4:52PM

Toyota 2010 Camry, one of eight models recalled

Toyota, it seems, has become a victim of its own success. The Japanese giant auto maker is recalling about 4.3 million cars in North America and Europe because of a faulty gas pedal. This amounts to more than half of all cars Toyota sold worldwide in 2009 (7.81 million). Preliminary reports indicate that the faulty part was made by US auto parts maker CTS Corporation's Canadian subsidiary in Mississauga, Ontario.

The dramatic recall and suspension of production of eight best-selling cars highlights the extent of the company's transformation since the year 2000. That year, Toyota recalled just over eight thousand cars in the US and routinely had the fewest recalls of the major car makers. The company's reputation for quality was exceptional, the name Toyota virtually synonymous with reliability and value. But in recent years the image has been tarnished. Last November, Toyota recalled 4.2 million vehicles for a problem caused by improperly installed floor mats interfering with the movement of the gas pedal and potentially causing uncontrolled acceleration. None of Toyota's models were ranked in the top safety picks for 2010 by the US Insurance Institute for Highway Safety.

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Tuesday
26Jan2010

Forex Trading - Understanding Rollovers and Interest Rates

DateTuesday, January 26, 2010 at 3:34PM

By Ricky Weber

Many traders and investors come to the foreign exchange market with a knowledge of how to trade the stock market, and while much of this information is relevant to currency trading one concept that does not exist for stock trading is that of rollover orders. The rollover is something that is very important for trading the spot forex market, and indeed the forex market could not function the way that it does without this.

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