According to the IMF, high energy and commodity prices are helping the Canadian economy. Other factors contributing to the growth are high employment, increased consumer spending and healthy corporate profits. iShares MSCI Canada Index (EWC) is the exchange traded fund representing the region. It is up 15% year-to-date and as the chart below indicates, the ETF continues to trade above its 200-day moving average. Top holdings include financial – Royal Bank of Canada (RY) and energy – EnCana (ECA) companies.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.