Canadian dollar could sink to 50 cents a decade from now, says analyst

The Canadian Press
Canada Post reports $748-million pre-tax loss for 2023, warns of worse ahead
OTTAWA — Canada Post says it lost $748 million before tax last year as it warned larger, unsustainable losses are likely ahead without changes to its business model. The Crown corporation says it's struggling amid intense competition in parcel delivery services that has led to its market share eroding from 62 per cent pre-pandemic to 29 per cent last year. It says the rise in parcel competition comes as the postal service has also seen a declining numbers of letters, even as the number of addres
Financial Post
David Rosenberg: Why the Bank of Canada needs to start cutting rates … Now
Key data points indicate the central bank is keeping policy 'far too tight'
Reuters
Canadian dollar forecasts trimmed by analysts as BoC moves closer to rate cuts: Reuters poll
The Canadian dollar is set to strengthen less than previously expected over the coming year as the Bank of Canada makes progress on taming inflation and will likely begin cutting interest rates ahead of the Federal Reserve, a Reuters poll found. According to the median forecast of nearly 40 foreign exchange analysts in the April 29-May 2 poll, the loonie will strengthen 0.7% to 1.36 per U.S. dollar, or 73.53 U.S. cents, in three months, compared to 1.34 in last month's poll. "In the near term, I think there are going to be some headwinds," said Bipan Rai, global head of FX strategy at CIBC Capital Markets.
INSIDER
China's true military spending in 2022 was likely worth $711 billion, or 'nearly equal' to the US military budget that year: US think tank
That's compared to a US military budget of around $742 billion that year, which was spread out across various theaters in the world.
CBC
Top soldier says military looking for 'clarity' on Ottawa's budget plans
Just over a month into the new fiscal year and two weeks after the federal budget, the Department of National Defence is struggling to reconcile the Liberal government's approach to military funding — giving with one hand while taking with the other. Gen. Wayne Eyre, the country's top military commander, told the rank-and-file in a remote town hall event last week that he doesn't have answers to crucial questions about how internal budget cuts and funding reallocation square with promises of add
Business Insider
Russia's economic survival hinges on prolonging the Ukraine war, think tank expert says
"Should the authorities attempt to halt militarization, a hard landing could add pressure to the government," Elina Ribakova wrote for FT.
Business Insider
The stock market's sell-off is over and the Fed gave 5 bullish signs to investors at its latest meeting, Fundstrat's Tom Lee says
The Fed looks increasingly dovish, setting stocks up for a gain in May, according to Fundstrat's head of research Tom Lee.
Reuters
Toronto home sales fall for third month in April; prices rise
Greater Toronto area home sales fell in April for a third straight month and prices crept up, as over two-decade high interest rates kept the lid on housing market recovery in Canada's main metropolitan region, data showed on Thursday. Seasonally adjusted sales declined 3.4% in April from the previous month after falling 2.4% in March, according to Toronto Regional Real Estate Board (TRREB) data. Average home prices were up 1.5% last month to C$1.12 million ($819,072.69), the highest since December, while new listings were down 5.9%, the date showed.
Bloomberg
Weaker-Than-Forecast Remittances Cloud Mexico’s Growth Outlook
(Bloomberg) -- Mexicans abroad sent home less money than expected in March in another blow to the cooling economy. Most Read from BloombergSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineTurkey Confirms All Trade Halt With Israel Over War in GazaHuawei Secretly Backs US Research, Awarding Millions in PrizesBiden Calls Ally Japan ‘Xenophobic’ Along With China, RussiaIn Jamie Dimon's America, the Stock Market Has Already VotedTotal remittances fell to $5.02 billion, down 3% from a ye
Moneywise
Kevin O’Leary says Americans should ‘get used to the idea’ that the Fed won’t offer reprieve to rates in 2024
Despite the fact that they "keep pushing out their optimism month after month."
Financial Post
Eliminating carbon tax would only have 'temporary' effect on inflation, Macklem says
'Inflation would drop for one year, and then after that, it would go back to where it otherwise would have been,' Bank of Canada governor says
Reuters
Canada posts surprise trade deficit as gold exports fell in March
OTTAWA (Reuters) -Canada in March recorded a surprise trade deficit of C$2.28 billion ($1.66 billion), the largest in nine months, as exports declined faster than imports, data showed on Thursday. Total exports fell 5.3% in March mainly due to exports of unwrought gold declining from a record high reached in February, while imports were down 1.2%, led by electronics and metal ores and non-metallic minerals, Statistics Canada said. Analysts polled by Reuters had forecast a trade surplus of C$1.50 billion in the month.
Yahoo Finance Video
Fed's 'patient' inflation approach is paying off: Economist
The April jobs report was softer than what experts were expecting with the US economy adding 175,000 new jobs during the month, accompanied by a modest 3.9% growth in wages. Joining Market Domination to discuss this report is T. Rowe Price Chief US Economist Blerina Uruci. Uruci acknowledges that the jobs report represented "a big miss relative to expectations." However, she notes that investors are interpreting it as "a soft report" due to the "big upside surprises" witnessed in the first quarter, labor prints now cooling after significant labor market gains in the past few months. Uruci says this jobs report shows the Federal Reserve that "this patient approach" on inflation is "paying off." However, Uruci highlights two areas of concern: the concentration of job growth primarily in the healthcare and education sectors, and "the gradual increase" in the US unemployment rate. Additionally, Uruci addresses the ongoing wage growth pressures, stating "we're moving in the right direction" and characterizing the slowing growth as "particularly encouraging." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. Editor's note: This article was written by Angel Smith
Barrons.com
The Fed Will Be Stuck On Hold Until Something Gives
For Federal Reserve officials so far in 2024, “on hold” is exactly where they would like to be. Members of the Federal Open Market Committee voted unanimously on Wednesday to keep interest rates steady, as widely expected by markets and economists—the FOMC has held the federal-funds rate at a target range of 5.25% to 5.50% since July 2023. Policymakers announced a tweak to the pace of their continuing quantitative tightening, to begin next month, but that won’t impact the stance of monetary policy much.
Reuters
India's foreign minister rejects Biden's 'xenophobia' comment
Indian foreign minister Subrahmanyam Jaishankar rejected U.S. President Joe Biden's comment that "xenophobia" was hobbling the South Asian nation's economic growth, The Economic Times reported on Saturday. Jaishankar said at a round table hosted by the newspaper on Friday that India's economy "is not faltering" and that it has historically been a society that is very open. "That's why we have the CAA (Citizenship Amendment Act), which is to open up doors for people who are in trouble ... I think we should be open to people who have the need to come to India, who have a claim to come to India," Jaishankar said, referring to a recent law that allows immigrants who have fled persecution from neighbouring countries to become citizens.
Bloomberg
Bond Market Parties On as Jobs Data Revive Fed Rate-Cut Bets
(Bloomberg) -- The world’s biggest bond market is back in celebration mode after its worst month in more than a year.Most Read from BloombergEverything Apple Plans to Show at May 7 ‘Let Loose’ iPad EventSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineApple Rallies Most in 18 Months on Upbeat Forecast, BuybackG-7 Eyes Plan on US-Led $50 Billion Aid Package for UkraineEven the World’s Most-Envied Retirement Plan Is Falling ShortEvidence that the US labor market is finally softening i
Bloomberg
US Jobs Post Smallest Gain in Six Months as Unemployment Rises
(Bloomberg) -- US employers scaled back hiring in April and the unemployment rate unexpectedly rose, suggesting some cooling is underway in the labor market after a strong start to the year.Most Read from BloombergEverything Apple Plans to Show at May 7 ‘Let Loose’ iPad EventSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineApple Rallies Most in 18 Months on Upbeat Forecast, BuybackG-7 Eyes Plan on US-Led $50 Billion Aid Package for UkraineEven the World’s Most-Envied Retirement Plan
Fortune
Analysts have long complained about fuzzy statistics from China. A proposed new statistics law shows Beijing is worried too
Economists and even Chinese officials have used their own pet statistics to better understand the world’s second-largest economy.
The Canadian Press
S&P/TSX composite up Friday, U.S. stock markets rally after jobs report shows cooling
TORONTO — Canada's main stock index rose Friday, led by strength in base metals, utilities and telecom, while U.S. markets rallied after the latest jobs report came in cooler than expected. Markets rose Friday after the latest report on the U.S. jobs market, which fell quite short of expectations, said Andrew Buntain, vice-president and portfolio manager at Fiduciary Trust Canada. “Financial markets have responded robustly in North America, certainly, with equity markets and bond yields falling,
Bloomberg
El-Erian Says ‘Goldilocks’ Jobs Report to Please Fed, Markets
(Bloomberg) -- A cooling of the labor market should provide welcome relief for the Federal Reserve as it looks to ease the US economy into a soft landing, Mohamed El-Erian said after the release of April US jobs data. Most Read from BloombergEverything Apple Plans to Show at May 7 ‘Let Loose’ iPad EventSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineApple Rallies Most in 18 Months on Upbeat Forecast, BuybackG-7 Eyes Plan on US-Led $50 Billion Aid Package for UkraineEven the World’s

S&P/TSX

S&P 500

DOW

CAD/USD

CRUDE OIL

Bitcoin CAD

CMC Crypto 200

GOLD FUTURES

RUSSELL 2000

10-Yr Bond

NASDAQ

VOLATILITY

FTSE

NIKKEI 225

CAD/EUR

Canadian dollar could sink to 50 cents a decade from now, says analyst

Latest Stories

Canada Post reports $748-million pre-tax loss for 2023, warns of worse ahead

David Rosenberg: Why the Bank of Canada needs to start cutting rates … Now

Canadian dollar forecasts trimmed by analysts as BoC moves closer to rate cuts: Reuters poll

China's true military spending in 2022 was likely worth $711 billion, or 'nearly equal' to the US military budget that year: US think tank

Top soldier says military looking for 'clarity' on Ottawa's budget plans

Russia's economic survival hinges on prolonging the Ukraine war, think tank expert says

The stock market's sell-off is over and the Fed gave 5 bullish signs to investors at its latest meeting, Fundstrat's Tom Lee says

Toronto home sales fall for third month in April; prices rise

Weaker-Than-Forecast Remittances Cloud Mexico’s Growth Outlook

Kevin O’Leary says Americans should ‘get used to the idea’ that the Fed won’t offer reprieve to rates in 2024

Eliminating carbon tax would only have 'temporary' effect on inflation, Macklem says

Canada posts surprise trade deficit as gold exports fell in March

Fed's 'patient' inflation approach is paying off: Economist

The Fed Will Be Stuck On Hold Until Something Gives

India's foreign minister rejects Biden's 'xenophobia' comment

Bond Market Parties On as Jobs Data Revive Fed Rate-Cut Bets

US Jobs Post Smallest Gain in Six Months as Unemployment Rises

Analysts have long complained about fuzzy statistics from China. A proposed new statistics law shows Beijing is worried too

S&P/TSX composite up Friday, U.S. stock markets rally after jobs report shows cooling

El-Erian Says ‘Goldilocks’ Jobs Report to Please Fed, Markets