The Canadian dollar rose for the first time in four days as a group of banks and pension funds agreed on steps to ease a credit crunch in the nation’s asset- backed commercial paper market.
[B]Canada’s house-price escalator pauses in July[/B]
Led downward by a $15,951 drop in Toronto, the average price of a house sold through multiple listing services in 24 Canadian markets fell 0.8 per cent in July from June’s record level. But that average price ? $332,442 ? was still up 13.1 per cent from the July 2006 level, the biggest year-over-year rise since April 2004, the Canadian Real Estate Association said.
http://www.cbc.ca/money/story/2007/08/15/house-prices.html
Source: CBC
[B]Wal-Mart credits strong dollar for deep price cuts[/B]
Wal-Mart Canada Corp. says 2007 will be its biggest year yet of deep price cuts in Canada thanks to a stronger dollar and consumer concerns about the economy. The news comes a year after the country’s biggest general merchant sent its suppliers a letter asking them to consider how a strong dollar was helping them and urging them to remedy price disparities between the Canadian and U.S. divisions on identical items.
http://www.canada.com/nationalpost/financialpost/story.html?id=3fcab38c-49e7-42a8-91dd-73d51080bb23&k=31950
Source: Financial Post
[B]Canada’s Dollar Strengthens as Banks Convert Commercial Paper[/B]
The Canadian dollar rose for the first time in four days as a group of banks and pension funds agreed on steps to ease a credit crunch in the nation’s asset- backed commercial paper market. The currency rebounded from a three-month low after ABN Amro, Deutsche Bank AG and eight other banks and pension funds agreed to buy asset-backed commercial paper in Canada to restore liquidity to the C$120 billion ($112 billion) market.
http://www.bloomberg.com/apps/news?pid=20601082&sid=aZCm9bGP6nuA&refer=canada
Source: Bloomberg