Canada’s Fm Says Detention Of 2 Canadians Without Charge In Egypt Poses A Threat To Relations

Canada’s Dollar Drops Against Australia’s as U.S. Shuts Down

economic outlook, David Watt , chief economist at the Canadian unit of HSBC Holdings Plc, said in a phone interview. It makes sense the Canadian dollar would lag its commodity peers during an episode such as this. It will behave more like the U.S. dollar because of the close ties. The loonie, nicknamed for the image of the aquatic bird on the C$1 coin, weakened 1 percent to 97.02 cents per Australian dollar at 5 p.m. in Toronto. Canadas currency depreciated 0.1 percent to C$1.0322 per U.S. dollar. One Canadian dollar buys 96.88 U.S. cents. Benchmark Bonds Canadas benchmark 10-year government bond fell, pushing the yield up two basis points to 2.56 percent. The price of the 1.5 percent security maturing in June 2023 slipped 14 cents to C$90.97. Implied volatility for one-year options on the Canadian dollar versus its U.S.

U.S. shutdown threatens Canada’s economy

Federal Reserve to maintain its stimulus program for a longer period, which would also boost stocks, he said. “If there is a longer shutdown it would slow the economy and therefore reduce the (Fed) taper talk that’s been the prevalent fear out there,” Richards said, adding that a looming fight over raising Washington’s borrowing authority was much more dangerous. The TSX index ended up 60.25 points, or 0.47 percent, at 12,847.44, its biggest one-day gain since Sept. 18. It had opened in the red after hitting a two-week low on Monday. The materials sector was the only one of ten major groupings to slip. Goldcorp Inc and Barrick Gold Corp were the two heaviest drags on the Toronto Stock Exchange’s S&P/TSX composite index, with Goldcorp off 2.7 percent at C$26.06 and Barrick falling 3 percent to C$18.60. The price of gold fell below $1,300 per ounce, to its lowest since early August, in heavy volume early on Tuesday as investors saw the U.S. standoff as likely temporary and sold safe-haven bullion. But the partial U.S. government shutdown and looming debt-ceiling battle “are all good fodder for gold, so I think it is a purchase opportunity for gold and gold miners,” said John Ing, president of Maison Placements Canada.

He said Canadas prime minister has directed that all resources be brought to bear to secure their release. U.S. commander says he is wary of Kim Jong Un Craig Whitlock Outgoing general, who led U.S. troops in S. Korea, says Kim is clearly in charge, despite his youth. In twist on growth plan, Japan PM commits to tax hike Chico Harlan Shinzo Abe says Japan will go ahead with a sales tax planned for April but pair it with new stimulus spending. World Digest: Sept. 30, 2013 Militants attack Yemen army base, take captives; Venezuela to expel three U.S. diplomats. Filmmaker Tarek Loubani and John Greyson, a physician, have been held without charges since mid-August and were ordered detained for another 45 days on the weekend. The men say they were observing an anti-government demonstration Aug.

CANADA STOCKS-TSX gains as investors shrug off U.S. shutdown

government shutdown could create hassles at the border and ultimately hurt Canadas economic performance. The shutdown, which began Monday at midnight, has shuttered national parks, museums and passport services south of the border as some 800,000 federal workers have been sent home until a U.S. budget impasse is resolved. Essential services such as border crossings, air traffic control and airport security will continue to operate. But Canadian companies are worried it may not be business as usual. And if the U.S. budget crisis continues for more than few days, the uncertainty could hurt Canadas economic growth rate. We do expect there will be some concerns, particularly if it begins to affect border-related processes. Its not entirely clear that will happen, said Dan Kelly, president of the Canadian Federation of Independent Business. Some specific business concerns include the ability of Canadians to get work visas for the U.S. and the impact of curtailed inspection services on cross-border food sales. Anyone who has dealings with the U.S. will be a little bit nervous and the economic impact this could have could affect us all, Kelly said. The biggest impact of the shutdown is on business confidence, said Jayson Myers, president of Canadian Manufacturers and Exporters.