Hi folks, Today, the Bank of Canada has decided, they will maintain its target for the overnight rate at 1/2%. Even in the face of dwindling resource prices, China concerns, 13 year low on the CAD dollar vs the USD, bear market territory for the stock market; I suppose governor Poloz is trying to … Continue reading Bank of Canada announcement!
Oil moved into bear territory in July and today has fallen a further 3.2% on lower Chinese demand and no production cuts from OPEC. Also US crude supplies were almost 100 million barrels over the average 5 year seasonal average as we head out of the last of the summer driving season and into fall. … Continue reading Oil touches a fresh 6-year low!
What a change in oil prices, heading lower (again) for another day. We see Brent crude at it's lowest in 4 months and down 20% from it's high this year. Most of the news coming out on Crude is just not good news: Iraqi oil exports rose to an all-time high, number of rigs seeking … Continue reading Oil in New Bear Territory