Canada's economy got off to a slightly stronger start to 2025, but few forecasters are upgrading their outlook, said TD. The "dark shadow" cast by United States tariffs on Canada's business environment is expected to lead the economy to contract through the middle of this year and send the unemployment rate to its highest level since 2012, wrote the bank in a note to clients.
The Federal Reserve is widely expected to hold rates steady at 4.25%-4.50% on Wednesday as President Donald Trump's volatile tariff policy clouds the economic outlook. The decision will mark the fourth straight pause in the rate-cutting cycle that began in September. Chair Jerome Powell and his colleagues have consistently repeated since May that monetary policy is "in a good place."
US retail sales fell more than market expectations in May amid declines in purchases of motor vehicles and building materials, data from the Census Bureau showed Tuesday. Sales were 0.9% lower last month following April's 0.1% decline, which was revised from the initially reported 0.1% increase. Spending on motor vehicles and parts declined 3.5% after a 0.6% drop in April.
The Bank of Japan held its policy rate at 0.5% at its overnight Monday policy meeting, said Societe Generale. On the other hand, the review of the Japanese government bond buying Rinban operation review concluded that the ongoing reduction of purchases by 400 billion yen per quarter will be maintained until Q1 2026. Following this, the reduction amount will slow to 200 billion yen per quarter.
National Bank of Canada maintained its outperform rating and $14.50 price target on the shares of Hudbay Minerals (HBM) after the miner restarted its Manitoba operations that were suspended due to wildfires. Hudbay on Monday said it resumed operations at its Snow Lake complex in the province after the lifting of evacuation orders for the region on June 14.
The Bank of Canada will release at 1:30 p.m. ET on Tuesday its Summary of Deliberations on the discussions leading up to the June 4 decision to hold the policy rate, noted Scotiabank. Key may be any further clarity around forward guidance, said the bank. If that isn't shared, then it may be in BoC Governor Tiff Macklem's speech on Wednesday, stated Scotiabank.
Chile's central bank is expected to hold its overnight rate target at 5% with risk of a cut on Tuesday, said Scotiabank. The bank expects a 25bps cut. Whether that's enough to motivate BCCh to come off the sidelines where it has stood since the start of this year isn't clear, stated Scotiabank.
Premium Products International, Inc., a U.S.-based sourcing and export consultancy, announces the launch of its newest offering: premium-grade Turkish towels, bathrobes, and home textiles, now available for wholesale in the U.S. market.
US equity futures were down before Tuesday's opening bell as the Federal Reserve begins its meeting to discuss monetary policy while the ongoing Israel-Iran conflict continued to dampen investor sentiment.
U.S. consumers showed signs of strain in May, as a key spending gauge contracted for the second time this year, fueling concerns of a demand slowdown amid tariff-related trade uncertainty. Headline retail sales slumped 0.9% month-over-month in May 2025, a sharp drop from April's downwardly revised 0.1% decline, the U.S. Census Bureau reported Tuesday.
U.S. consumers showed signs of strain in May, as a key spending gauge contracted for the second time this year, fueling concerns of a demand slowdown amid tariff-related trade uncertainty. Headline retail sales slumped 0.9% month-over-month in May 2025, a sharp drop from April's downwardly revised 0.1% decline, the U.S. Census Bureau reported Tuesday.
US retail sales fell by 0.9% in May, a larger drop than the 0.6% decrease expected in a survey compiled by Bloomberg as of 7:30 am ET and following the previous month's 0.1% decline. Excluding a 3.5% decrease in motor vehicle sales, retail sales were down 0.3% compared with an expected 0.2% gain.
Statistics Canada will refresh the consumer price index basket weights at 8:30 a.m. ET Tuesday, for inclusion in next week's May CPI report, noted Scotiabank. It's the annual process, this time updating to the composition of spending in 2023 instead of 2022, said the bank.
Statistics Canada releases April figures on international securities transactions at 8:30 a.m. ET on Tuesday, noted Bank of Montreal. StatsCan will also publish new consumer price index component weights at 8:30 a.m. ET Tuesday.
Canadian housing starts continue to hold up despite. weak buyer demand, said Bank of Montreal. Starts for homeownership and condos have trended at around 110,000 annualized units seasonally adjusted so far this year, which is down more than 20% from recent norms through 2022 and 2023, noted the bank.
Asian stock markets were choppy Tuesday as traders weighed a central bank decision in Tokyo, and the unfolding hostilities in the Middle East. Tokyo finished in the green, Shanghai was flat, and Hong Kong fell back. In Japan, the Nikkei 225 opened evenly and gained in trading, finishing up 0.6% on media reports of a possible Middle East truce, and as a softer yen boosted export issues.
Analysts are eyeing this week?s Federal Reserve meeting for a decision on rate cuts, as well as cues on bitcoin's movements, with no policy changes expected.
US equities rebounded Monday following Friday's selloffs as investors shook off worries about a further escalation in the Middle East conflict, with the focus shifting to this week's Federal Reserve policy meeting.
There were a few signs of life in Canada's housing sector on Monday, with housing starts coming in hot at 280,000 annualized units, which was above expectations of 248,000 and the six-month moving average of 243,000, said Rosenberg Research. This is basically flat, or 0.2% lower, from April's print and it means that housing starts are actually still up 20.7% year-to-date.
Canadian existing home sales increased 3.6% month-on-month in May, building on April's modest 0.8% month-over-month gain, said TD after Monday's data from the Canadian Real Estate Association. Gains in Ontario and Alberta helped lift national sales.
Canadian housing starts came in at a "healthy" rate of 279,500 annualized units in May, essentially holding on to April's large gain, said TD. Meanwhile, the six-month moving average of starts inched higher by 0.8% month over month to 243,400 units in Monday's data from the Canada Mortgage and Housing Corporation.
The Canadian Real Estate Association on Monday released statistics on the country's home sales for May. In summary: National home sales were up 3.6% month-over-month; Actual monthly activity came in 4.3% below May 2024; The number of newly listed properties rose 3.1% on a month-over-month basis; The MLS Home Price Index was 0.2% month-over-month lower and was down 3.5% on a year-over-year basis...
US equity futures were up before Monday's opening bell, rebounding from Friday's losses fueled by the ongoing tensions between Israel and Iran, while traders looked ahead to the upcoming two-day rate policy setting Federal Open Market Committee meeting scheduled to begin Tuesday.
The total monthly seasonally adjusted annual rate of housing starts for all areas in Canada fell 0.2% month-over-month in May to 279,510 units, said Canada Mortgage and Housing Corporation on Monday. May's housing starts declined less than the 248,000 consensus figure provided by MUFG. The rural starts monthly SAAR estimate was 19,706 units, noted CMHC.
US equity futures were higher pre-bell Monday, rebounding from Friday's losses fueled by the ongoing tensions between Israel and Iran, while traders looked ahead to the upcoming two-day rate policy setting Federal Open Market Committee meeting scheduled to begin Tuesday.
The US dollar fell against its major trading partners early Monday as the focus turns to May retail sales data Tuesday and the Federal Open Market Committee's policy statement at the conclusion of its two-day meeting Wednesday, when there is a 99.8% chance of no change in the current 4.25% to 4.50% federal funds rate range being priced into the CME's Fed Watch tool.
The benchmark US stock measures were pointing higher before the opening bell Monday as investors watch the ongoing conflict between Israel and Iran, while preparing for a key policy decision by the Federal Reserve later in the holiday-shortened week.
Canada Mortgage and Housing Corporation will release housing starts for May at 8:15 a.m. ET Monday, noted RBC. The bank expects May Canadian housing starts to pull back to 243,000 -- a 12.8% month-over-month decline that would partially retrace a 30% surge in April. MT Newswires does not provide investment advice.
Wall Street futures pointed moderately higher pre-bell Monday, as traders weighed Middle East conflicts but the possibly diminishing potential for a wider conflagration. In the futures, the S&P 500 rose 0.5%, the Nasdaq inclined 0.6% and the Dow Jones was up 0.4%. The Federal Reserve begins a two-day policy meeting on Tuesday, though pundits project no major policy changes.
While the Bank of Japan is expected to leave its policy rate unchanged this week, there is a strong expectation among market participants heading into the meeting that the BoJ will adjust its plans for quantitative tightening, said MUFG. The BoJ is slate to release its policy statement at 10:30 p.m. ET on Monday.
The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the ?Greed? zone on Friday. U.S. stocks settled lower on Friday, with the Dow Jones index falling more than 700 points during the session following Israel?s surprise airstrike on Iranian nuclear sites.
US consumer sentiment improved more than expected in June, while year-ahead inflation expectations dropped to their lowest level in three months, preliminary results from a University of Michigan survey showed Friday. The main sentiment gauge advanced to 60.5 this month from 52.2 in May. The consensus was for a 53.6 print in a survey compiled by Bloomberg.
The European stock markets closed lower in Friday trading as the Stoxx Europe 600 dropped 0.97%, Germany's DAX was down 1.1%, the FTSE 100 decreased 0.36%, France's CAC 40 fell 1.04% and the Swiss Market Index declined 1.6%. European Union employment rate for people between 20 and 64 slightly increased to 76.1% in Q1, up from 76% in the previous quarter, according to Eurostat, the statistical o...
The University of Michigan's preliminary consumer sentiment index rose to 60.5 in June from 52.2 in May, compared with expectations for a smaller increase to 53.6 in a survey compiled by Bloomberg as of 7:35 am ET.
National Bank of Canada on Friday provided its monthly Canadian freight update highlighting key industry data points and trends impacting its freight company coverage. The bank's freight company coverage includes Canadian National Railway Company (CNI), Canadian Pacific Kansas City (CP), Cargojet (CGJTF), Andlauer Healthcare Group (ANDHF), Mullen Group (MLLGF) and TFI International.
National Bank of Canada on Thursday initiated coverage of Endeavour Silver (EXK), giving the stock an Outperform rating and $9 price target. Endeavour dropped 4% on Thursday to $6.53 on the TSX. The bank said its research team now covers 10 silver-focused equities. National Bank said it views Endeavour Silver (EXK) as the most undervalued and highest growth silver producer in its coverage.
Peru's central bank held its reference rate unchanged at 4.5% late Thursday, as expected, said Scotiabank. Data-dependent guidance and slight downward revisions to nearer-term inflation projections offered a thinly dovish slant, statedd the bank. MT Newswires does not provide investment advice.
The US dollar rose against its major trading partners early Friday before the release of the preliminary University of Michigan consumer sentiment reading for June at 10:00 am ET. The dollar received haven support after Israel struck nuclear sites in Iran Thursday. The St. Louis Federal Reserve bank is expected to update its gross domestic product Nowcast estimate around midday.
The Federal Reserve is widely expected to maintain its benchmark interest rate in the 4.25%-4.50% range at next week?s policy meeting, as policymakers weigh recent soft inflation data against ongoing uncertainty from President Donald Trump?s trade policies and demands for aggressive rate cuts.
Norway's Norges Bank will receive two crucial inputs next week: a relatively dovish May consumer price index print that missed core inflation expectations, and a Regional Network Survey showing resilient economic activity, said UBS. These factors point to a likely rate cut in September, which markets have already priced in, wrote the bank in a note to clients.
The 2025 Global Gender Gap Index, released by the World Economic Forum, shows that gender parity worldwide is still a distant fantasy, with 68.8% of the gap closed across 148 economies, an improvement of only 0.3 percentage points from last year. What Happened: At the current pace, the report says, it will take 123 years to achieve full global gender parity.
Deutsche Bank said it expects the Bank of England Monetary Policy Committee to keep the Bank Rate unchanged at 4.25% on Thursday. However, increased concerns around the labor market are likely, in the bank's view. Deutsche Bank predicts the MPC to open the door to an August rate cut. The bank sees a 7-2 vote tally in favor of keeping the Bank Rate unchanged.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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