Canada’s triple-A rating, with trends on all ratings remaining stable

Bond rater DBRS confirms Canada’s triple-A rating, with trends on all ratings remaining stable. Bank of Canada Governor Stephen Poloz spoke this week of the “serial disappointment” in Canadian economic data. Conversely, DBRS says Canada’s rating is solid due to government efforts to reduce public debt and a stable financial sector, and as a result has ample flexibility to deal with unforeseen shocks. Still, Canada’s credit rating could come under pressure if there’s a marked correction in the housing market, DBRS adds, fueled by either a jump in unemployment or higher borrowing costs.

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Usd/Rub rallied 150 points after Russia came under a barrage of criticism

USD/RUB up 150 points

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The U.S. said Friday that the Malaysia Airlines plane that crashed in Ukraine was likely downed by a ground-to-air missile from rebel territory, as Russia came under a barrage of criticism from the West over the disaster. The plane carrying 283 passengers and 15 crew crashed in the battle-torn eastern Ukraine region of Donetsk, where pro-Russia separatists are occupying several towns in a three-month conflict.

President Barack Obama, who called the downing of the flight a wake-up call for Europe and the world, said the U.S. and its allies would impose further costs on Russia if it continues to back the rebels. “This should snap everybody’s heads to attention,” Mr Obama said from the White House as he squarely blamed the separatists for the tragedy. “Evidence indicates that the plane was shot down by a surface-to-air missile from an area that is controlled by Russian-backed separatists inside of Ukraine,” he said a news conference.