Another 25 basis point cut is on the board and investors are watching closely to see if the rate cut will give some breathing room to the economic uncertainties.
Market Numbers: (Futures)
TSX : Up (0.24%) 24,306.40
TSXV: Up (1.19%) 601.79
DOW: Up (0.61%) 41,732.00
NASDAQ: Up (0.98%) 19,591.75
FTSE: Up (0.68%) 8,553.93
In the Headlines
The Bank of Canada is set to cut interest rates by an expected 25 basis point and for a seventh straight meeting any moment now as the country braces for a trade war that will plunge the economy into recession unless there’s a swift resolution.
And Mark Carney’s victory in the Liberal leadership race put the final nail in the coffin for Ottawa’s controversial plan to hike the inclusion rate on capital gains with Jamie Golombek, managing director of tax and estate planning with CIBC Private Wealth saying “It sounds to me like the capital gain tax change is dead and I think people will be very happy about that,”
Currencies Update: (Futures)
Canadian Dollar is glowing green across the board. Up 0.17% to $.6938 US, tacks on 0.33% to $0.6385 against the Euro.
Bitcoin pops up 1.53% to $119,579.64
Commodities: (Future)
Natural Gas: Down (4.55%), 4.29
WTI: Up (1.50%), 67.02
Gold: Up (0.98%), 2,913.41
Copper: Down (0.06%) 6.30
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