Macquarie forecasts 59-cent loonie in 2016 – CBC.ca + MORE Jan 13th

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Jennifer Dowty, Chartered Financial Analyst, looks ahead to the market trading day

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Talking Points: Of velvet ropes and mega-lotteriesGood News: IMF chief Christine Lagarde visited Cameroon, which she praised for growing its economy six per cent despite low oil prices (Stephen Jaffe/IMF/Reuters)
Need an answer for that? Trying to look like the smartest person at the dinner party? Our Talking Points have you covered. Read our short takes on some of the big stories from the week that was:
1. That new car smell
Armed with loud music and puffs of dry ice, giddy auto executives unveiled 40 new cars, trucks and SUVs at this week’s Detroit auto show. After enjoying record North American sales last year, the industry is poised for a repeat performance in 2016 thanks to continued low interest rates, cheap gas and consumers’ seemingly insatiable desire for new metal. Ford CEO Mark Fields even dismissed concerns about China’s stock market by noting the carmaker still sold a record 1.1 million vehicles there last year. Among the show’s highlights: a sleek, new Fiat Chrysler minivan with sliding doors that open with a wave of the foot…

Continue Reading On macleans.ca »

CBC.caMacquarie forecasts 59-cent loonie in 2016CBC.caA day after the loonie slipped below the 70-cent US level for the first time since 2003, a forecaster at investment bank Macquarie says he expects the loonie to lose another 10 cents to reach an all-time low of 59 cents by the end of 2016. David Doyle …Tanking loonie pinches Alberta consumersCalgary HeraldThe 'double jeopardy' of the oil-loonie shockThe Globe and MailOil briefly dips below US$30, Canada's dollar bobs above and below 70 cents U.S.TheChronicleHerald.caCTV News -Huffington Post Canada -570 Newsall 311 news articles »

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TORONTO – The weak Canadian dollar was again hovering near 70 cents US as North American stock markets edged lower Wednesday.
The Canadian dollar trading at 70.08 cents US, down 0.06 of a cent from Tuesday’s close after it fell briefly below 70 cents US for the first time in nearly 13 years before closing at 70.14 cents US.
North American stock markets began Wednesday’s trading session on a positive note but slipped into the red mid-morning.
The Toronto Stock Exchange’s S&P/TSX composite index was down 6.98 points at 12,366.92. On Tuesday, the index added 54.65 points, its first positive result since the Christmas break.
The Dow Jones average of 30 stocks was down 44.85 points at 16,471.37, the broader S&P 500 index was down 5.49 points at 1,933.19 and the Nasdaq dropped 15.22 points to 4,318.495. .
Major stock indexes in Asia mostly closed higher, except the Shanghai index which fell about 2.4 per cent. European markets remained mostly higher as the North American indexes turned negative…

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Realtor Royal LePage says it expects the national real estate market to slow this year due to eroding affordability in Toronto and Vancouver and the fallout from declining oil prices in Western Canada.

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