I would like to take this opportunity to thank you for selecting me as your mortgage advisor. It has truly been a pleasure working with you. The following mortgage plan is a document and service that I provide to all of my clients to help them become more familiar with me, their lender, and their mortgage financing options. While the mortgage transaction has now been successfully completed, our relationship is just beginning. As your mortgage advisor my ongoing role is to help you successfully manage your mortgage debt, as well as your personal finances, in order to minimize your interest costs and fees - and enjoy mortgage freedom as soon as possible. I would also like to take this opportunity to encourage you to contact me if you have any questions regarding your mortgage, or the mortgage needs of a friend or family members. Throughout my career I have found that my clients are most successful when they are well informed, follow a prudent plan, and have access to expert advice and services.
Here is a bit about VERICO.
Aussie dollar down due to weak housing report
May 4, 2011 - The Aussie dollar took a beating earlier in the day due to a weak housing report, but this was balanced by hawkish comments out of the region and the currency has recouped all off the losses. It is interesting to see today that metals and certain equity exchanges have sold off, so there is a risk aversion theme happening in those markets, but the US dollar is still under pressure overall due to Portugal announcement. It feels like traders are just taking profit in some markets and correlations between USD and equities has broken down, at least on the day. In Canada, the Loonie has been flat just above the 0.95 level and there is a lack of direction on the day. We see this listless trading on every big figure on the way down it would seem, but you still get the feeling the Loonie will continue to strengthen as it lags other majors in gains over the last month; we have yet to see the downtrend in USDCAD reverse. Watch out for Friday’s dual employment report reading as it should provide some volatility and future directional bias.
Canadian Companies will rely more on emerging markets for trade growth says HSBC
VANCOUVER,May 4/CNW/ - Canadian companies will rely more on the emerging markets ofChina, Southeast Asia and Latin America, and less on theUnited States, as their primary source of trade growth over the next six months, according to the latest HSBC Trade Confidence Index.
This is echoed by the recently-released annual review of trade by StatisticsCanada, which reported that trade with theUnited Statesdecreased from 76.3 per cent of Canadas total trade volume in 2001 to 62.5 per cent in 2010.
The semi-annual HSBC Trade Confidence Index is the broadest international survey of small and mid-sized businesses engaged in cross-border trade. Results are framed by respondents in 21 markets:Canada,Argentina,Australia,Brazil, mainlandChina,Egypt,France,Germany,Hong Kong,India,Indonesia,Malaysia,Mexico,Poland,Saudi Arabia,Singapore,Turkey, Vietnam, theUnited Kingdom, theUnited States, and theUnited Arab Emirates. The results are used to calculate an index range from 0 to 200, with 200 representing the highest confidence level, 0 representing the lowest and 100, neutral.
Global trade confidence remains positive on the HSBC Trade Confidence Index, at 114 - down by two fromOctober 2010.Canadaremains relatively unchanged at 109 (110 inOctober 2010, and 109 in May 2010). Businesses inIndia(140),Saudi Arabia(132),Mexico(125) andIndonesia(123) are the most bullish about trade prospects in the next six months.
Following them, in descending order, are:Turkey(122), theUnited Arab Emirates(121),Singapore(121),Brazil(116), Vietnam (116),Argentina(115),China(114), theUnited States(111),Canada(109),Poland(108),Germany(107),Australia(107),France(104), the UK (104),Egypt(102) andHong Kong(101). OnlyMalaysiascored in negative territory, at 97.
Overall, Canadian companies continue to overwhelmingly look to theUnited Statesas a trade partner (96 per cent). Yet they also report increases in trade relationships with many other regions, namely Southeast Asia at +7 per cent, Latin America at +7 per cent, GreaterChinaat +6 per cent, and WesternEurope(excluding the UK) at +6 per cent.
Mark Watkinson, Senior Executive Vice President, Head of Commercial Banking,North America, HSBC said: For future growth, diversification beyond traditional markets will be a key strategy. Canadian companies are turning more and more to opportunities in emerging markets because the economic environment in theUnited Statesremains fragile, and because the strength of the Canadian dollar makes Canadian goods more expensive for US importers.
Canadian companies will rely less on theUnited Statesfor trade growth
For Canadian companies surveyed, theUnited Statesremains the most promising region for trade growth over the next six months, at 38 per cent. However, this is a 17 percentage point drop from theOctober 2010survey. GreaterChina(18 per cent), Latin America (10 per cent), Southeast Asia (6 per cent) and Central and EasternEuropeexGermany(5 per cent) round out the top five growth hot spots.
Global economic outlook
The outlook of Canadian businesses on the global economy over the next half-year is improving. Just over half of respondents (57 per cent) expect to see an improvement in the economy over the next half-year, a 9 percentage point increase from theOctober 2010Trade Confidence Index.
The new normal is the same as the old normal
Canadian respondents are increasingly comfortable that the global economy is stabilizing and they are less concerned about future economic contractions. However, almost one fifth of respondents are expressing concerns over fluctuations and increases in the cost and availability of raw materials, many of which have seen price increases over the past six months.
As a result, respondents concern that suppliers will not honor trade agreements rose by 10 per cent over the past six months. Where fluctuations in cost barely registered as a concern inMay 2010, and not at all inOctober 2010, it now shares top rank as the leading reason for suppliers not honoring their trade agreements.
Similarly, suppliers expect a slight increase in the risk of buyers defaulting on payments, and they will increasingly turn to options like advance payment, tightened payment terms and export credit insurance in order to mitigate their risk.
Finally, as the Canadian dollar remains above parity with the U.S. dollar, the impact on trade flows is noticeable. In fact, 41 per cent of respondents now say that foreign exchange fluctuations will be unfavorable, compared to 33 per cent inOctober 2010.
About the survey
The semi-annual HSBC Trade Confidence Index gauges sentiment and expectations on trade activity and business growth in the next 6 months from 6,387 exporters and importers across 21 markets. The survey was conducted from February to