Canadian Dollar

Loonie Hits 4-Month Lows As Oil Sinks

The Canadian Dollar has now dropped 5 straight days, breaking above 1.3200 to the USD - its weakest in 4 months - as FX and equity markets catch up to oil's recent demise...

Three Former Barclays Traders Convicted Of LIBOR Manipulation

The first bank to admit that it engaged in massive manipulation of the LIBOR rate was Barclays back in 2012, and traders are still being scapegoated tried in court to this day. As Bloomberg reports, five traders learned their fate recently, nearly four years since the bank admitted to the charge. Three traders were convicted, while the jury was unable to reach a verdict on the final two.

Yes, There Are Safe Havens (If You Want Them)

What we have now is pedal to the metal front-running of central banks and the nagging fear that when the fun ends there won’t be a bid anyway, so why bother being prudent.

All Eyes On Yellen: Global Markets Flat On Dreadful Volumes, Oil Slides

In a world where fundamentals don't matter, everyone's attention will be on Janet Yellen who speaks at 1:15pm today in Harvard, hoping to glean some more hints about the Fed's intentionas and next steps, including a possible rate hike in June or July. And with a long holiday in both the US and UK (US bond market closes at 2pm today), it is no surprise overnight trading volumes have been dreadful, helping keep global equities poised for the highest close in three weeks; this won't change unless Yellen says something that would disrupt the calm that’s settled over financial markets.

Loonie Plunges Most In A Month Ahead Of Crude Open

As markets flutter to life following the Doha disappointment, it is clear some turmoiling is to come. Canadian Dollar is down over 1% against the US Dollar - the biggest drop in 4 weeks - erasing all of last week's gains. Ahead of this evening's crude futures open, CAD implies a sub-$39 open for WTI...

"My Daddy’s Rich And My Lamborghini’s Good-Looking": Meet The Rich Chinese Kids Of Vancouver

Meet Andy Guo, an 18-year-old Chinese immigrant, who loves driving his red Lamborghini Huracán. He does not love having to share the car with his twin brother, Anky. "There’s a lot of conflict," Mr. Guo said, as a crowd of admirers gazed at the vehicle and its vanity license plate, “CTGRY 5,” short for the most catastrophic type of hurricane.  Or Diana Wang, 23,  who thinks a supercar is a poor investment, because its value decreases over time. "Better to spend half a million dollars on two expensive watches or some diamonds."

Loonie?

Oil and the Canadian Dollar have traded tick-for-tick for the last 24 hours... until around 5amET, when the loonie was suddenly bid despite a plunge in crude. As US equities opened and crude extended its losses, CAD quickly plunged but it appears someone, or something, was ready to buy with both hands and feet...

It's Official: Canadian Bank Depositors Are Now At Risk Of Bail-Ins

"To protect Canadian taxpayers in the unlikely event of a large bank failure, the Government is proposing to implement a bail-in regime that would reinforce that bank shareholders and creditors are responsible for the bank’s risks—not taxpayers. This would allow authorities to convert eligible long-term debt of a failing systemically important bank into common shares to recapitalize the bank and allow it to remain open and operating."

North America's Most Expensive Housing Markets

What may surprise some people when looking at the top 15 list of the most expensive housing markets in North America is seeing Vancouver — the third most expensive city in the world — down in the 6th position, behind a less expected entry … Brooklyn, N.Y.!