Toronto Gold Bullion Newsletter Archive - Daily FX report dated 06/01/2011

CAD, USD, EUR, GBP & JPY

" Our own economy may be improving but our own financial situations are not".....

Canadians are less optimistic about the economy than they were a year ago, a national poll showed Thursday.

Thirty-eight per cent of Canadians feel the economy will improve in the next year, compared to 54 per cent last year, a survey by the Economic Club of Canada and Pollara showed.

One in five think the Canadian economy will actually get worse this year, up from 14 per cent who felt that way last year.

“Canadians were feeling overly bullish on economic recovery this time last year,” said Michael Marzolini, Pollara's chairman. “But clearly these lofty expectations in Canada and around the world have not yet been met.”

Much of the caution stems from perceptions about the U.S.

Canadians are more confident about their own economy than in elsewhere in the world. Four in 10 think the U.S. economy will worsen this year and the same proportion think the global economy will worsen.

Top economic concerns include the cost of living, government deficit and national debt, and having enough money to retire.

Canadians are less concerned with broader issues, such as foreign aid and charitable causes, and more preoccupied with their own finances, Mr. Marzolini said in a Toronto speech.

"Our own economy may be improving but our own personal financial situations are not."

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1. USD- Initial jobless claims data.
CAD - Ivey purchasing mgrs index data.