The tech wreck, the thickening border with the U.S. and the soaring loonie in the mid-2000's turned the attention of Canada's exporters to fast-growing emerging markets. In a relatively short time span, our trade with this rapidly-rising part of the global economy has risen from less than 5 per cent to almost 13 per cent of our merchandise exports.
Exporters are less upbeat about domestic economic conditions. The balance of opinion for this indicator was the only one to fall, edging back marginally to 13 per cent. Paradoxically, they are more positive about domestic sales, where the balance of opinion rose 9 percentage points to 43 percent of those surveyed.
Just over a year ago, markets went into a tailspin. At that time then-Fed Chairman Bernanke made what was supposed to be a benign announcement that gave new meaning to the word "taper." Currencies were thrust into the mayhem well ahead of the statement becoming action, as markets tried to anticipate the pricing effects of this new monetary regime. Tapering is now well underway; how are currencies weathering the storm?
TORONTO - The Canadian dollar closed lower Friday amid data showing a bigger than expected drop in December retail sales and tame inflation.The loonie...
When international trade collapsed in 2009, the Canadian economy turned inward, and for a change, discovered a steady source of growth. That source is now tapped out, and economy-watchers have for some time turned their eyes back to trade. So far, the view has been uninspiring. Will Canadian trade carry growth forward, or is our hopeful gaze in for a big disappointment?