Archive for May, 2009

OECD: Canada still in ‘strong slowdown’

Canada is not among a small group of major economies showing tentative signs of a “pause” in their economic slowdown, the Organization of Economic Co-operation and Development said Monday. Those countries showing less gloomy signals are China, the United Kingdom, France and Italy, said the OECD, a Paris-based think-tank sponsored by major western democracies, in [...]

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Employment surprise: Canada adds jobs in April

The Canadian economy saw an unexpected increase in jobs during April, despite a deepening economic recession, leaving the unemployment rate at 8%. Statistics Canada said 35,900 positions were added during the month, driven by an increase in self-employment. “Despite this increase, overall employment has fallen by 321,000 since the peak in October 2008,” the federal [...]

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Canadian dollar a buy despite hitting four-year low: Citigroup

Investors should buy the Canadian dollar against the greenback because the country’s fiscal position is better than the U.S. and oil prices may rise to support the currency, Citigroup Inc. said. Canada’s dollar, which recently touched the lowest in more than four years, “overshot fundamentals,” Citigroup currency strategist Todd Elmer in New York wrote in [...]

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