CADCNY CAD/CNY
- 5.1048
- -0.0089-0.17%
CAD/CNY News
Express News | Canada's October manufacturing PMI rose to a 20-month high.
Canadian Dollar Continues Struggling After GDP Data
Canada's Economy Flatlined in August, Supporting Expectations for Another 50bp Cut From the Bank of Canada
Canadian GDP in August showed zero growth, expected to increase by 0.3% in September.
Statistics Canada data shows that Canada's real Gross Domestic Product (GDP) in August stagnated, consistent with preliminary estimates and market expectations. Driven by finance, insurance, and public administration, the service industry grew slightly by 0.1%, while the commodity production industry declined by 0.4%, reaching the lowest level since December 2021. The statistics agency predicts that Canada's GDP in September may grow by 0.3%, with growth in finance, insurance, construction, and retail trade offset by declines in mining, quarrying, as well as oil & gas extraction.
China Business Sector Edges Into Expansion in October: PMI Report
The Canadian economy appears to be significantly cooling down in the third quarter.
October 31st by Gelonhui | Analyst Robb Stewart said, without a doubt, Canada's economy is declining. The industrial GDP was revised downwards to just 0.1% month-on-month growth in July and remained flat in August. Statistics Canada estimates a growth rate of 0.3% in September, seeming to show a rebound. This means that the industrial GDP for the third quarter grew at an annual rate of 1%, significantly lower than the 2.2% in the first quarter and 2.1% in the second quarter. This also implies that the GDP economic growth rate expectation of 1.5% for the third quarter recently lowered by the Bank of Canada may still be too optimistic.
Express News | Canada's GDP rebounded in September.
"Scary" Share of Small Businesses Struggle With Low Demand in Canada, Says CFIB's Business Barometer
Stronger China Services Sector Activity Drives Up PMI -- Market Talk
Bank of Canada Chief Says Currency Weakness Won't Affect Rate-Cutting Plans
BOC's Macklem Says Policy Rate Remains in Restrictive Territory -- Market Talk
Currency Weakness 'Not Factoring' Into Bank of Canada Decisions, Macklem Says -- Market Talk
Canada Rate-Cutting Cycle to Pick Up Pace Amid Immigration Shift -- Market Talk
Canadian Dollar Steady Against Mixed US Data
Canada Defense Spending Needs to Double by 2033 to Reach NATO Goal, Watchdog Says
Corporate loan interest rates hit a new low! In the first three quarters, the financial system in peking provided a total financing volume of nearly 950 billion yuan. In September, the average weighted interest rate for corporate loans dropped to 2.87%.
1. In the first three quarters of this year, Peking's financial institutions continued to show a growing trend in credit volume. As of the end of September, the RMB loan balance and deposit balance increased by 5.4% and 9.4% year-on-year, respectively. 2. Since the beginning of this year, the weighted average interest rate of new corporate loans issued by financial institutions in Peking has remained at a low level, with the September average interest rate for corporate loans at 2.87%, reaching a new record low in statistics.
The Central Bank: In September, various types of bonds totaling 7,603.15 billion yuan were issued in the bond market.
On October 30, the People's Bank of China released the financial market operation situation for September 2024.
BMO on The Day Ahead in Canada
USA election heavy trade signal! Bloomberg: Hedge funds bet on the surge of "this currency pair"...
Countdown to the usa presidential election in November, hedge funds are shifting bets to the Singapore dollar, causing a significant increase in the cost of speculating on the Singapore currency. Options traders are positioning for the rise of the US dollar against the Singapore dollar.
BOC's Macklem Says Officials to Discover Where Neutral Rate Sits -- Market Talk