National Bank On What It Will Be Watching For Next Week

03:10 PM EDT, 08/29/2025 (MT Newswires) -- In Canada, the release of the Labour Force Survey will be closely watched next Friday.

Following the substantial pullback in July, National Bank anticipates that employment will stagnate in August, with the effects of tariffs likely being felt, especially in the manufacturing and trade sectors. It said a flat employment report could result in a 0.1% increase in the unemployment rate, bringing it to 7.0%, assuming the participation rate remains at 65.2%.

The week will also feature the publication of the July merchandise trade balance on Thursday. National Bank noted stagnant oil prices will likely temper nominal energy exports for the month. But, it said, a large one month increase in imports due to a one time outlay in the month of June will surely be reversed. As such, this should result in a narrowing of the merchandise trade deficit from C$5.8 billion to $4.5 billion.

There will also be figures for second quarter labour productivity released on Wednesday.

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