The National Bank of Canada

Expect a quiet day on markets, as U.S. stock exchanges will be closed this afternoon for Thanksgiving celebrations. Please note that Japanese markets are also closed today. News out of Europe is front...

The recent drop in gas prices, improved job figures and higher home prices are all factors that will support the U.S.’s economic recovery over the next few quarters. Consumer Confidence Index...

HighlightsBalanced budget for 2013-14.Final deficit for fiscal 2011-12: $2.6 billion, $672 million less than projected, as a result of non-use of a $300-million contingency reserve and...

The economy is growing more slowly than anticipated.For 2012: forecast real GDP growth is 0.9%.For 2013: forecast real GDP growth is 1.5%.For 2012-2013, the government is maintaining the budget...

FACTS: On a y/y basis, the Teranet–National Bank National Composite House Price IndexTM rose 3.4% in October (top chart). Over the 11 metropolitan areas covered, 12-month price changes vary...

After an extended negative period, investors were due for a breath of fresh air yesterday. Hints of optimism in discussions between Republicans and Democrats, on the U.S. real estate market and a...

The massive sale of equities that began shortly after the election continued last week. The S&P 500 has lost 3.22% of its value since the U.S. elections. The USD/CAD pair has remained confined to...

Canada – In September, manufacturing shipments registered a 0.4% increase in both nominal and real terms. That was roughly in line with consensus. However, the prior month’s growth was...

FACTS: Canadian factory sales rose 0.4% in September although there were advances in only 8 of the 21 broad industries. One sector in particular, aerospace (+43%) helped to boost overall results, with...

U.S. inflation, as measured via the Consumer Price Index, grew 0.1% on a month-on-month basis in October. The Federal Reserve's numerous interventions to stimulate the economy were largely responsible...

In light of the current changes at the helm of the Chinese politburo, many pundits worry about the future growth strategy for China in a context of a rapidly aging population. As the story goes, China...

HighlightsNominal GDP for 2012 revised down from 4.6% to 3.4%.Deficit revised to $26 billion from $21 billion due to lower government revenues. As a share of GDP, the budget shortfall is 1.4% this...

SummaryUsing the sales data by price tier obtained from the Quebec Federation of Real Estate Boards (QFREB) and the Toronto Real Estate Board (TREB), we demonstrate that it might not be wise to use...

Bullion has done well over the past week despite USD appreciation. In our opinion, the outlook remains constructive for the yellow metal because of central bank purchases. As today’s Hot Chart...

CanadaThe shortened week in Canada will be extremely thin in economic statistics likely to influence the market. The only notable data to be announced on Thursday are: Existing home sales, followed by...

FACTS: Canada’s merchandise trade deficit narrowed to CAD 0.83 bn in September from a revised CAD 1.5 bn deficit as both the energy and non-energy trade balances improved. Exports rose 1.9% as...