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The Canadian dollar looks ‘egregiously’ undervalued: Scotiabank

Canada’s dollar is “egregiously” undervalued, Scotiabank said following a report Friday that showed record job gains for the country.While the loonie has had a bad reputation of late, the strength of the nation’s economic fundamentals reinforces the view that the currency should be stronger, foreign-exchange strategists Shaun Osborne and Eric Theoret wrote in a note.The…


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Bank of Canada holds key interest rate at 1.75%

Canadian interest rates are almost certainly on hold until at least sometime next year.The Bank of Canada published a revised outlook on April 24 that shows the economy essentially stalled over the last six months, extinguishing the sparks that had caused policy makers to starting worrying about inflation.Stephen Poloz, the governor, and his deputies left…


Stocks sink after economic data disappoints

Stocks sink after economic data disappoints

Associated Press Stocks fell Monday after weaker-than-expected economic data and as US-China trade optimism cooled.  Financial markets had been higher early on Monday following reports that the US and China could reach a deal to lower tariffs. Watch stocks trade in real time here.  Wall Street reversed gains Monday, ending lower after disappointing economic data…


MORGAN STANLEY: Delusional currency investors are making a huge mistake that could blow up in their faces — but these trades could save the day

MORGAN STANLEY: Delusional currency investors are making a huge mistake that could blow up in their faces — but these trades could save the day

Spencer Platt/Getty Images Hans Redeker, the lead global foreign-exchange strategist for Morgan Stanley, says investors are making a crucial mistake that could end up working against them. As a result of this misconception, Redeker says investors have temporarily moved more cash into the market, which is an unsustainable development. Redeker says FX traders need to…


MORGAN STANLEY: Stocks are barreling towards a long earnings recession, and an investing strategy to survive the drought is already crushing the market

MORGAN STANLEY: Stocks are barreling towards a long earnings recession, and an investing strategy to survive the drought is already crushing the market

A decline in earnings growth during the first quarter won’t come as a shock to Wall Street. After all, analysts have already made the steepest cuts in years to earnings-per-share growth in the first quarter, and they may not be done downgrading yet. However, what Morgan Stanley has on its radar will come as a…