Canada’s inflation rate unexpectedly jumped to 2.0% in October from 1.6% in September. Analysts were expecting Canada’s inflation rate to climb in October to 1.9%. Every month, Canadian inflation inched up 0.4%, versus expectations for a 0.3% gain. It was also the first time since May that Canadian inflation increased. Statistics Canada said the higher-than-expected […]
19
Nov
Nov
Since President-elect Donald Trump’s decisive election win on November 5, the stock markets have been on fire with the S&P 500, Dow Jones Industrial Average, Nasdaq, and TSX all hitting record highs. And that’s saying something. The broader stock markets did well in 2023, in spite of inflation, high interest rates, and fears of a […]
12
Nov
Nov
President Donald Trump proved the naysayers wrong when he won a decisive victory on November 5, paving the way for the country’s 45th president to also be its 47th president. President-elect Donald Trump campaigned on a number of policies that will have big implications on both the Canadian economy and Canadian stocks. Will President Trump […]
05
Nov
Nov
How Is the Canadian Economy Doing? The Canadian economy continues to underwhelm as years of high inflation and high interest rates hurt Canadian consumers and businesses. According to preliminary data from Statistics Canada, the country’s gross domestic product (GDP) grew at an annualized rate of just 1% in August; unchanged from July. Preliminary data also […]
29
Oct
Oct
The Bank of Canada made the widely expected move to lower its key interest rate by 50 basis points from 4.25% to 3.75%. This comes after three 25-basis-point cuts each in June, July, and September and is the first time that interest rates have been below 4% in two years. With Canadian inflation now down […]
22
Oct
Oct
The odds of the Bank of Canada making an oversized, 50-basis-point interest rate cut when it meets next on October 23 are up after the country’s inflation rate fell to 1.6% in September. That represents the lowest inflation rate in three and a half years. September’s inflationary reading of 1.6% was also down from 2.0% […]
15
Oct
Oct
The Canadian dollar has not exactly been having a good year against its American counterpart. From the start of 2024 through to October 9, the Canadian dollar lost 3.36% of its value compared to the U.S. dollar. The Canadian dollar, which is trading at 1.371 per U.S. dollar, or $0.7293 U.S. cents, has weakened by […]
08
Oct
Oct
Earlier this year Energy was one of the better-performing sectors, rising 17% from January to April. Fast forward to the middle of September, and Energy had the worst one-year performance (-4.59%), hampered by weakening demand and potential increased output from OPEC+. Wall Street sentiment can change in an instant though. Energy stocks got a big […]
24
Sep
Sep
The U.S. Federal Reserve made a big splash, announcing an oversized interest rate cut; a move that is expected to have a big impact on U.S. and Canadian financial markets. Over the last 14 months, the Fed held its key lending rate at a two-decade high of between 5.25% and 5.50%. But with inflation winding […]
17
Sep
Sep
September is living up to its reputation as being one of the worst months for the stock market. After a volatile start to August, which saw the S&P 500 and TSX both tumble more than 5%, North American stocks experienced another big drop in early September after U.S. core inflationary data came in higher than […]
