The National Bank of Canada

Not much to feed on yesterday. Most currencies celebrated this calm by regaining some strength against the USD. Noteworthy was the drop in crude oil to $89 before again reaching a major level at...

Last Friday Democrats and Republicans were still at loggerheads, while a series of cuts in budgetary expenditure began on March 1. These cuts should mainly affect the American defense while total cuts...

The MSCI World index has followed a spectacular January with a further 1.3% climb in February, for gains of 6.6% year to date and 13.5% from the November low. Although the threat of financial...

After eight consecutive rally days, any excuse would have been good to take some profit. This is what happened on the USD/CAD pair when it dropped below the 1.0300 mark after the release of an...

FACTS: The Institut de la statistique du Québec reports that Quebec’s trade deficit widened in December for the first time in four months (top chart). The value of exports fell $281...

FACTS: The GDP grew 0.6% annualized in Q4, leaving Canada's GDP growth rate for 2012 at just 1.8%, the worst since the 2009 recession and underperforming the US (2.2%) for the first time in six years....

Canada’s broadest measure of trade, the current account, showed a deficit of C$17.3 bn in last year's Q4. For 2012 as a whole, the current account deficit was a record C$66.9 bn as both the...

NUMBERS: The Institut de la statistique du Québec reports that Quebec real GDP at basic prices edged up 0.1% in November, trailing Canada as a whole (0.3%), after gains of 0.3% in October and...

After yesterday’s disappointing U.S. results, Canadian fourth quarter GDP figures for 2012 (expected today) will be very significant for the CAD. The loonie is continuing to lose ground due to...

Cautious investors wary of the fragile global economic fundamentals, have been trampled by the bull run in recent weeks. The “risk-on” drive was motivated not by the earnings season which...

Italian voters’ frustration became apparent yesterday with a ex-comedian obtaining 25% of the votes and former Prime Minister Berlusconi confirming his resurgence in the polls, enough to gain...

Figures released last Friday showed stable inflation in Canada, but retail sales data were disappointing, revealing a 2.1% decline in December 2012. In the U.S., the markets were disappointed by the...

Despite a huge $1.1B decrease (-27%) In Q4 in profits of petroleum & coal products manufacturers, operating profits from domestic operations of Canadian nonfinancial corporations rose 2.1%...

When markets are in distress, Ben Bernanke comes through to restore confidence and peace of mind. Much to the relief of investors, concerned that the Italian election fiasco will bring turmoil to...

According to a survey released today by Statistics Canada, investment intentions remained positive for 2013, with total non-residential investment expected to rise to a record C$ 293.5 bn this year....

Discussions have been intensifying between Canadian provinces in recent weeks about the rationale for altering existing pipelines and/or building new capacity to allow for the transportation of...