TSX futures gained ground before Monday’s market open, suggesting that investors are expecting more evidence of moderation from Canadian and US inflation reports due later this week. According to Bank of Canada governor Tiff Macklem, the bank will return to publishing an economic forecast when it issues its interest rate policy decision on October 29 with emphasis on slowdowns in hiring and economic growth due to persistent threats to global trade.
Market numbers
TSX: Down (1.15%), 30,108.48.
TSXV: Down (4.15%), 965.58.
DOW: Up (0.02%), 46,438.
NASDAQ: Up (0.14%), 25,065.25.
FTSE: Down (0.73%), 9,378.50.
In the headlines
Global trade will have to contend with yet another tariff from the Trump administration. Beginning on November 1st, US imports of medium and heavy trucks will be hit with a 25 per cent tariff in a bid to protect American industry, though vehicles compliant with the Canada-US-Mexico Agreement will be exempt.
Moving to tech, Amazon’s AWS reported a major outage on Monday, interrupting access to businesses across the world, as well as to popular websites such as SnapChat, Fortnite and Reddit. The cloud service provider managed a return to normal service by around 6:00 am ET, following three hours of disruptions, while also putting the risks of depending on large-cap providers into stark relief.
Currencies
US: Down (0.14%), US$0.7117.
Euro: Down (0.08%), €0.6114.
GBP: Flat (0.00%), £0.5308.
AUD: Up (0.44%), $1.0974.
JPY: Up (0.05%), ¥107.420.
Bitcoin: Up (1.96%), US$110,806.46.
(Conversion to C$1)
Commodities
Natural Gas: Up (1.62%), US$3.201.
WTI: Down (0.98%), US$57.089.
Gold: Up (0.36%), US$4,263.93.
Copper: Down (0.11%), US$5.029.
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