Markets Blog
The Canadian economy again generated more jobs than anticipated last month, suggesting that the economy is beginning to shrug off the tariff shock. According to an update just published by Statistics Canada, 66,600 new positions were added in October and the unemployment rate dropped to 6.9 percent. Consensus estimates—which have become less reliable in recent months—had pointed to 5,000 new hires,...
The dollar is tumbling against most of its major rivals after a private-sector report showed employers slashing payrolls by far more than anticipated, raising market-implied odds on a third consecutive rate cut at the Federal Reserve’s December meeting. According to the Challenger, Gray, and Christmas job cut report—not typically a market-moving release—businesses laid off 153,074 people in October,...
• Upbeat mood. Sentiment improved overnight. US equities & bond yields ticked up on the back of some positive data. AUD & NZD also rose.• US tariffs. Legality of President Trump’s tariffs is before the US Supreme Court. Market odds of a decision in Pres. Trump’s favour fell overnight.• Data flow. US Government Shutdown still in place. Official stats on hold. Bank of England could...
Currency markets are stabilising this morning as a global selloff eases and the US government shutdown enters a record-breaking 36th day. Asset prices tumbled across the financial landscape yesterday as concern over rarefied valuations intersected with expectations for a slower Federal Reserve easing cycle, but steep losses in the technology sector now appear to be reversing, demand for safe-haven...
• Market swings. A bout of risk aversion overnight. Valuation concerns weighed on equities. Bond yields dipped. USD firmer. AUD & NZD lose ground.• RBA hold. No change in rates by RBA yesterday. Updated forecasts & guidance suggest there is a chance no more cuts are delivered, in our view.• US data. US Government Shutdown still in place. Private sector stats in focus. ADP employment & services...
The almighty greenback is holding near a three-month high this morning as investors scale back their exposure to technology stocks and grapple with uncertainty surrounding the Federal Reserve’s next policy move. US equity markets are set to open lower after Palantir Technologies issued a somewhat-disappointing revenue forecast, risking the near-150-percent jump in its share price this year, and intensifying...