Bank of Canada leaves interest rate and quantitative easing unchanged
09/08/2021 11:21 AMThe Bank of Canada is leaving its target for the overnight rate at 0.25 per cent. Its stimulus program known as quantitative easing (QE) is being maintained at a target pace of $2 billion per week. Despite weaker than expected GDP data that showed a contraction in the...
read more
Trading Desk Notes For September 4, 2021
09/08/2021 10:53 AMPowell’s “Substantial Further Progress” – is not happening yet – and neither is the taper The combination of much weaker-than-expected employment and consumer confidence reports means that the Fed will delay the taper. Price action was dull all week – nobody wanted to...
read more
Diamond Rebound Rolls On as De Beers Reports Another Bumper Sale
09/08/2021 10:02 AMThe diamond industry’s resurgence showed no sign of slowing down with De Beers reporting its biggest gem sale since February as consumers continued to buy jewelry. Anglo American Plc’s De Beers said it sold $515 million of rough diamond at its seventh sale of 2021,...
read more
Former Walmart Exec Unveils Plan To Build A ‘New City In America’
09/08/2021 9:54 AMA ‘new city in America’, set to house five million people, is being planned by a former executive of Walmart. Last week, Marc Lore, former head of US e-commerce for Walmart, unveiled plans for the new city, appointing a world-famous architect to design it. The...
read more
Amazon brings its cashierless tech to two Whole Foods stores
09/08/2021 9:15 AMAmazon is bringing its automated checkout technology to a pair of Whole Foods stores, the company announced Wednesday, marking the latest test of the grab-and-go system in a full-size supermarket. In a blog post, Amazon said the technology, called “Just Walk Out,” is...
read more
Canadian Consumer Confidence Plummets by Most Since April 2020
09/07/2021 12:07 PMConfidence among Canadian consumers fell by the most since the depths of the pandemic, suggesting that the elevated sentiment that sparked Prime Minister Justin Trudeau’s bid for re-election may soon be fading. The Bloomberg Nanos Canadian Confidence Index, which...
read more
A 150-Year Old Idea Could Lead To A Breakthrough In Space Travel
09/07/2021 10:45 AMThe increasing frequency of both natural and man-made catastrophes such as worldwide pandemics and climate catastrophes has re-validated the urgency to establish humanity as a multi-planet species. Indeed, the founding ethos of Elon Musk's private spaceflight company...
read more
Bitcoin suddenly retests $50K in possible ‘shakeout’ as analysts stay bullish on BTC
09/07/2021 9:37 AMBitcoin (BTC) kept traders on their toes on Tuesday as a sudden price dip sparked a retest of $50,000. Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it shed $2,000 in two hours Tuesday. The pair had hit $52,960 — nearly a four-month high —...
read more
Canadian investment portfolios took flight during pandemic lockdown
09/07/2021 9:22 AMAccording to data released by Statistics Canada this week, Canadian investors acquired a record $57.2 billion in foreign securities during the spring months that constitute the second quarter of 2021. The massive flow of investments were made by Canadian businesses,...
read more
Quote of the Week, Shocking Stat & Goofy Award
09/05/2021 10:58 AMQuote of the Week School’s back this week and eminent economist, Thomas Sowell’s astute observation on what we’re doing to our kids. Shocking Stat If this shocking economic stat doesn’t get your attention - can’t think of what will. Goofy It will take all the...
read more
