Markets in the red; TSX, Wall St., loonie, oil, gold all down... Calgary housing ‘price crash’... Canadian household’s debt-to-income ratio ever so slightly lower... Blackberry could launch smartphone with rival’s software...
Markets in the red; TSX, Wall St., loonie, oil, gold all down
The week has ended with a slump as Canada’s main stock market index fell along with New York, Europe and most of Asia. The Canadian dollar, gold and oil are also lower. Greece was once again being closely watched, especially after the IMF walked away from talks. June 18 is the new deadline for a deal to be struck. Bond yields and data were watched on Wall Street with the Fed meeting next week and possible interest rate move. European markets were subdued by Greece while Asia was lower with few exceptions; China managed to end on a new 7-year high.
The S&P/TSX Composite Index closed down 88.76 (0.60 per cent)
The NYSE closed lower (Dow down 134.9)
Oil is trending lower (Brent $63.70, WTI $59.97 at 4.05pm)
Gold is trending lower
The loonie is valued at U$0.8110 (at 4.05pm)
Calgary housing ‘price crash’
Oversupply in any market would normally lead to falling prices but that’s not happening in Canadian housing according to National Bank Financial. The bank and mortgage lender said Friday that house prices were up 0.9 per cent nationally in May from a month earlier and 4.6 per cent year-over-year. In 10 of the 11 urban markets there were increased prices but in Calgary prices were down by 3.3 per cent month-over-month with high-end houses taking the largest hit. That statistic is against the backdrop of Vancouver, Toronto, Hamilton and Quebec City all setting new record highs. Meanwhile the bank’s senior economist Marc Pinsonneault said there are signs of oversupply in all markets except Ontario and BC.
Canadian household’s debt-to-income ratio ever so slightly lower
The ratio between household debt and income was very slightly lower in the first quarter of 2015 according to Statistics Canada. The ratio reduced to 163.3 per cent, down just three-tenths of a percentage point. Canada’s household debt now sits at $1.841 trillion, mainly from mortgages. Net worth of Canadian households is up by 3.2 per cent.
Blackberry could launch smartphone with rival’s software
The next big smartphone from Blackberry could be launched with Google’s Android operating system instead of its own. A report from Reuters suggests that the Waterloo firm is considering the move however Blackberry responded by saying that it does not comment on speculation and remains “committed to the Blackberry 10 operating system.” If the report proves to be accurate then it would address the long-criticised issue of Blackberry smartphones lacking the top apps.
The week has ended with a slump as Canada’s main stock market index fell along with New York, Europe and most of Asia. The Canadian dollar, gold and oil are also lower. Greece was once again being closely watched, especially after the IMF walked away from talks. June 18 is the new deadline for a deal to be struck. Bond yields and data were watched on Wall Street with the Fed meeting next week and possible interest rate move. European markets were subdued by Greece while Asia was lower with few exceptions; China managed to end on a new 7-year high.
The S&P/TSX Composite Index closed down 88.76 (0.60 per cent)
The NYSE closed lower (Dow down 134.9)
Oil is trending lower (Brent $63.70, WTI $59.97 at 4.05pm)
Gold is trending lower
The loonie is valued at U$0.8110 (at 4.05pm)
Calgary housing ‘price crash’
Oversupply in any market would normally lead to falling prices but that’s not happening in Canadian housing according to National Bank Financial. The bank and mortgage lender said Friday that house prices were up 0.9 per cent nationally in May from a month earlier and 4.6 per cent year-over-year. In 10 of the 11 urban markets there were increased prices but in Calgary prices were down by 3.3 per cent month-over-month with high-end houses taking the largest hit. That statistic is against the backdrop of Vancouver, Toronto, Hamilton and Quebec City all setting new record highs. Meanwhile the bank’s senior economist Marc Pinsonneault said there are signs of oversupply in all markets except Ontario and BC.
Canadian household’s debt-to-income ratio ever so slightly lower
The ratio between household debt and income was very slightly lower in the first quarter of 2015 according to Statistics Canada. The ratio reduced to 163.3 per cent, down just three-tenths of a percentage point. Canada’s household debt now sits at $1.841 trillion, mainly from mortgages. Net worth of Canadian households is up by 3.2 per cent.
Blackberry could launch smartphone with rival’s software
The next big smartphone from Blackberry could be launched with Google’s Android operating system instead of its own. A report from Reuters suggests that the Waterloo firm is considering the move however Blackberry responded by saying that it does not comment on speculation and remains “committed to the Blackberry 10 operating system.” If the report proves to be accurate then it would address the long-criticised issue of Blackberry smartphones lacking the top apps.
