Futures linked to Canada’s primary stock index edged higher on Thursday, mirroring gains in U.S. markets, as investors awaited key economic indicators, including U.S. employment data and Canadian retail sales figures set for release later in the day.
Market Numbers:
TSX : Up (0.12%) 25,311.50
TSXV: Up (0.63%) 618.05
DOW: Up (1.24%) 44,025.81
NASDAQ: Up (0.64%) 19,756.78
FTSE: Up (0.51%) 8,549.49
Markets are currently pricing in an 81% probability of a 25-basis-point rate cut at the Bank of Canada’s meeting next week.
In the Headlines
Into headlines: Prime Minister Justin Trudeau and the premiers discussed interprovincial trade on Wednesday as a way of shoring up the Canadian economy as U.S. President Donald Trump looks to impose 25 per cent tariffs on Canada as soon as Feb. 1.
And Canada’s retail sales data is due out this morning. The figure is seen as an early indicator of GDP growth that can allow investors to gauge the central bank’s monetary policy stance.
Currencies Update
The Canadian dollar still on the decline by another $0.048 to the greenback sitting at $0.6946, dropping 0.0176 or 2.57% against the Euro to $0.667 and Bitcoin down -2.42% to C$146,780.61
Commodities
Natural Gas: Down (1.02%), 3.96
WTI: Down (0.37%), 75.07
Gold: Down (0.24%), 2,749.90
Copper Up (0.29%) 5.9291
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