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☆ Canadian factory PMI falls to three-year low in September
▼ + stars: | 2023-10-02 | by ( Fergal Smith | ) www.reuters.com time to read: +1 min

The S&P Global Canada Manufacturing Purchasing Managers' Index (PMI) fell to a seasonally adjusted 47.5 in September, its lowest level since May 2020, from 48.0 in August. "In line with the global industrial downturn, the Canadian manufacturing sector continued to experience lacklustre performance during September," Paul Smith, economics director at S&P Global Market Intelligence, said in a statement. "Output and new orders both fell to steeper degrees amid evidence of slow market demand. The output index fell to its lowest level since August 2022 at 45.6 from 47.7 in August. Signs that cost pressures were stabilizing provided some encouragement, with the input price index dipping to 50.4 from 53.9 in August.

Persons: Paul Smith, Smith, Fergal Smith, Andrea Ricci Organizations: TORONTO, P Global Canada Manufacturing, PMI, P Global Market Intelligence, Bank of, Thomson Locations: Canadian

The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 244.46 points, or 1.2%, at 19,556.15, its lowest closing level since June 23. "Gold is back in the danger zone as Treasury yields rise alongside a stronger (U.S.) dollar," Edward Moya, a senior market analyst at OANDA, said in a note. Energy was a bright spot, rising 0.8%, as the price of oil settled 0.8% higher at $90.39 a barrel. Shares of Westshore Terminals Investment Corp (WTE.TO) ended 10% lower as RBC cut its price target on the stock.

Persons: Chris Helgren, Peter Anderson, Edward Moya, Industrials, Fergal Smith, Khushi Singh, Tasim Zahid, Marguerita Choy Organizations: Toronto Stock Exchange, REUTERS, Energy, Toronto Stock, Andersen Capital Management, Investment Corp, RBC, Thomson Locations: Toronto , Ontario, Canada, Toronto, Bengaluru

☆ Canadian dollar edges higher as 10-year yield hits 4%
▼ + stars: | 2023-09-25 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. The loonie was trading 0.1% higher at 1.3470 to the greenback, or 74.24 U.S. cents, after moving in a range of 1.3455 to 1.3491. Among G10 currencies, only the Swedish crown performed better than the Canadian currency, as the U.S. dollar (.DXY) extended its recent gains against a basket of major currencies. Still, speculators have raised their bearish bets on the Canadian dollar to the most since May, data from the U.S. Commodity Futures Trading Commission showed on Friday. The 10-year was up 11.2 basis points at 4.026%, its first move above the 4% threshold since January 2008.

Persons: Mark Blinch, Price, Tony Valente, Fergal Smith, Nick Zieminski Organizations: REUTERS, greenback, U.S, Federal Reserve, Bank of Canada, U.S ., Fed, BoC, U.S . Commodity Futures Trading, Thomson Locations: Toronto, TORONTO, Swedish, Russia, U.S

The Canadian central bank had expected productivity, or output per hour worked, to improve as the economy recovered from the COVID-19 pandemic. Instead, it has fallen in eleven of the last 12 quarters, taking it back to its 2016 level. It also stands to add to unit labor costs, a key measure of inflation pressures coming from higher wages. "Our own forecast is that productivity growth will turn around, but that is a risk to the outlook and if productivity growth continues declining it will make it more difficult to get inflation back to target," Macklem said. The central bank has forecast that inflation will return to its 2% target in the middle of 2025.

Persons: Macklem, Derek Holt, tightens, Holt, Dennis Darby, Doug Porter, Fergal Smith, Steve Scherer, Deepa Babington Organizations: Bank of Canada, Reuters Graphics Reuters, BoC, Scotiabank, Federal Reserve, Canadian Manufacturers, Fraser Institute, BMO Capital Markets, Thomson Locations: Canadian, Canada, freefall, United States, Toronto, Ottawa

☆ Canadian dollar gives back earlier gains on hawkish Fed
▼ + stars: | 2023-09-20 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. The Fed held interest rates steady but projected another rate increase by the end of the year and monetary policy kept significantly tighter through 2024 than previously expected. "The U.S. dollar is climbing against its major rivals as Treasury yields push higher across the front-end of the curve, and risk-sensitive assets - from equities to the Canadian dollar - are weakening," Karl Schamotta, chief market strategist at Corpay, said in a note. The Canadian dollar was trading nearly unchanged at 1.3450 to the greenback, or 74.35 U.S. cents, after trading in a range of 1.3396 to 1.3464. The price of oil, one of Canada's major exports, settled 1% lower at $90.28 a barrel, giving back some recent gains.

Persons: Mark Blinch, Price, Karl Schamotta, Fergal Smith, Nick Zieminski Organizations: REUTERS, Canadian, U.S, U.S . Federal, Fed, Bank of Canada, BoC, Thomson Locations: Toronto, TORONTO, Canadian

☆ Hot inflation data helps lift Canadian dollar to 6-week high
▼ + stars: | 2023-09-19 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. The Canadian dollar was trading 0.3% higher at 1.3440 to the greenback, or 74.40 U.S. cents, after touching its strongest intraday level since Aug. 10 at 1.3383. Canada's annual inflation rate in August jumped to 4.0% from 3.3% in July on higher gasoline prices. "The oversold nature of the Canadian dollar going into the release suggests that exchange rate gains could be generated in the shorter term." Speculators have raised their bearish bets on the Canadian dollar to the highest since May, data from the U.S. Commodity Futures Trading Commission showed on Friday.

Persons: Mark Blinch, Karl Schamotta, Sharon Kozicki, Fergal Smith, Nick Zieminski, Sandra Maler Organizations: REUTERS, greenback, Canadian, U.S, Bank of Canada, Reuters, Bank of Canada's, U.S . Commodity Futures Trading, BoC, Thomson Locations: Toronto, TORONTO, Canadian

Two of the three core inflation measures also rose. The annual rate, the highest since the 4.4% reported in April, is double the Bank of Canada's 2% target. "Underlying inflation is still well above the level that would be consistent with achieving our target of 2% CPI inflation," she said. Money markets raised bets for a rate hike in October after the data, seeing a 42% chance of an increase after the price figures compared with 23% before. However, another inflation report and a bevy of other data are due out before the Canadian central bank next meets on Oct 25 to set the key overnight rate.

Persons: Derek Holt, Holt, Sharon Kozicki, Jimmy Jean, Justin Trudeau's, Andrew Grantham, David Ljunggren, Steve Scherer, Dale Smith, Fergal Smith, Divya Rajogopal, Paul Simao, Mark Porter Organizations: Reuters, Statistics, Bank of Canada's, Scotiabank, Bank of, Bank of Canada, Canadian, Desjardins Group, CIBC Capital Markets, Tiff, Thomson Locations: OTTAWA, Statistics Canada, Canadian

☆ Canadian dollar posts biggest weekly gain since June
▼ + stars: | 2023-09-15 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. The loonie was trading 0.1% lower at 1.3515 to the greenback, or 73.99 U.S. cents, after trading in a range of 1.3495 to 1.3549. For the week, it was up 0.9%, its biggest weekly advance since June. Much of the currency's weekly gain was down to selling of EUR-CAD, said Amo Sahota, director at Klarity FX in San Francisco. Canadian government bond yields rose across the curve on Friday, tracking moves in U.S. Treasuries.

Persons: Mark Blinch, Amo Sahota, Sahota, Fergal Smith, Andrea Ricci Organizations: REUTERS, greenback, Canadian, U.S, FX, European Central Bank, Saudi, Thomson Locations: Toronto, TORONTO, San Francisco, U.S

☆ Aircraft glitch delays Canada PM Trudeau's departure from India
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +1 min

Canada's Prime Minister Justin Trudeau speaks at the ASEAN-Indo Pacific Forum (AIPF) during the 43rd ASEAN Summit in Jakarta, Indonesia on September 6, 2023. ADEK BERRY/Pool via REUTERS/File Photo Acquire Licensing RightsTORONTO, Sept 10 (Reuters) - Canadian Prime Minister Justin Trudeau's departure from India was delayed after the aircraft he and the rest of the Canadian delegation were using experienced "technical issues," his office said on Sunday. Trudeau, who attended the G20 Summit in New Delhi, had been due to depart India on Sunday evening local time. "These issues are not fixable overnight, our delegation will be staying in India until alternate arrangements are made." Earlier on Sunday, Trudeau met with the Prime Minister of India, Narendra Modi.

Persons: Justin Trudeau, ADEK BERRY, Justin Trudeau's, Trudeau, CFC001, Narendra Modi, Fergal Smith, Will Dunham Organizations: Canada's, ASEAN, Pacific, ASEAN Summit, Rights, Canadian, Canadian Armed Forces, Thomson Locations: Jakarta, Indonesia, India, New Delhi, Canada

☆ Trudeau's main rival offers affordable government in first convention speech
▼ + stars: | 2023-09-09 | by ( Fergal Smith | ) www.reuters.com time to read: +3 min

Canada's Conservative Party of Canada leader Pierre Poilievre speaks during Question Period in the House of Commons on Parliament Hill in Ottawa, Ontario, Canada April 19, 2023. "A common-sense Conservative government that frees hardworking people to earn powerful paycheques that buy affordable food, gas and homes in safe neighborhoods," Poilievre said at the convention in Quebec City. In Friday's address, Poilievre promised to balance the federal budget if the Conservatives won the next election. An Angus Reid poll on Thursday showed the Conservatives at 39% public support, with the Liberals on 27%. Additonal reporting by David Ljunggren and Steve Scherer in Ottawa; Editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

Persons: Pierre Poilievre, Blair Gable, Justin Trudeau's, Poilievre, Trudeau, Angus Reid, Shachi Kurl, Kurl, it's, Stephen Guilbeault, David Ljunggren, Steve Scherer, Diane Craft Organizations: Canada's Conservative Party of Canada, REUTERS, Conservative Party, Conservative, New Democratic Party, Conservatives, Liberals, Liberal, Federal, Thomson Locations: Ottawa , Ontario, Canada, Quebec City, Ottawa

Canada created 39,900 jobs, Statistics Canada said, compared with a median forecast for a gain of 15,000. The labor market has been resilient even as the Bank of Canada (BoC) raised its key overnight rate 10 times since March 2022 to cool the economy. Money markets see a 44% chance of another BoC rate hike by year-end, up from 36% before the data were published. "This report alone won't make the Bank of Canada regret holding rates steady earlier this week. Derek Holt, vice president of capital markets economics at Scotiabank, noted a gain of 49,500 people in self-employed jobs.

Persons: Carlos Osorio, Andrew Kelvin, Royce Mendes, Derek Holt, Dale Smith, Fergal Smith, Andrea Ricci, Nick Macfie Organizations: Queen, West, REUTERS, Rights, Statistics, Bank of Canada, BoC, TD Securities, Desjardins Group, Canadian, Scotiabank, Thomson Locations: Toronto Ontario, Canada, Statistics Canada, Canadian, Ottawa, Toronto

☆ Canadian dollar rallies as jobs data rekindles rate hike bets
▼ + stars: | 2023-09-08 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

File photo: A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. The loonie was trading 0.4% higher at 1.3620 to the greenback, or 73.42 U.S. cents, after moving in a range of 1.3609 to 1.3689. Money markets see a 44% chance of another BoC rate hike by year-end, up from 36% before the data. The jobs data is "not strong enough to prompt an immediate rethink on the pause, but it's also certainly not soft enough to rule out further hikes", Doug Porter, chief economist at BMO Capital Markets, said in a note. The Canadian 2-year yield rose 3.3 basis points to 4.643%, while the gap between it and its U.S. equivalent narrowed by 5 basis points to 29.5 basis points in favor of the U.S. note.

Persons: Mark Blinch, it's, Doug Porter, Fergal Smith, Mark Heinrich Our Organizations: REUTERS, greenback, Canadian, U.S, Bank of Canada, BoC, BMO Capital Markets, U.S ., Thomson Locations: Toronto, Canada, TORONTO

☆ Canadian dollar outlook seen less rosy as China's economy weakens
▼ + stars: | 2023-09-07 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

File photo: A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. REUTERS/Mark Blinch/file photo Acquire Licensing RightsTORONTO, Sept 7 (Reuters) - Analysts have cut their bullish near-term forecasts for the Canadian dollar as China's economy weakens and the gap between U.S. and Canadian bond yields grows, but still expect the currency to be stronger in a year, a Reuters poll showed. "The loonie has lost a few feathers in recent weeks," said Stefane Marion, chief economist and strategist at National Bank of Canada. "Widening interest rate differentials with the U.S. and weaker commodity prices due to a slowing Chinese economy are keeping the CAD in check." Canada is a major producer of commodities, so the loonie tends to be sensitive to the global growth outlook.

Persons: Mark Blinch, Stefane Marion, Marion, Fergal Smith, Sujith Pai, Devayani, Pranoy, Jan Harvey Organizations: REUTERS, Rights, National Bank of Canada, U.S, Bank of Canada, Thomson Locations: Toronto, Canada, U.S

Bank of Canada Governor Tiff Macklem takes part in a news conference after announcing an interest rate decision in Ottawa, Ontario, Canada April 12, 2023. The central bank hiked rates by a quarter point in both June and July in a bid to tame stubbornly high inflation, which has remained above the bank's 2% target for 27 months. Bank of Canada Governor Tiff Macklem will deliver a speech and hold a press conference to discuss the decision on Thursday. Reuters GraphicsLiberal Prime Minister Justin Trudeau's support has sagged amid high inflation as his Conservative rival, Pierre Poilievre, hammered him for fueling inflation with government spending and driving up rates during a housing crisis. "The Bank of Canada's decision to maintain its overnight interest rate is welcome relief for Canadians," Finance Minister Chrystia Freeland said in a statement.

Persons: Blair Gable, Doug Porter, Andrew Kelvin, Justin Trudeau's, Pierre Poilievre, Chrystia Freeland, Steve Scherer, David Ljunggren, Fergal Smith, Ismail Shakil, Divya Rajagopal, Nivedita Balu, Mark Porter Organizations: Canada, REUTERS, Rights, Bank of Canada, Wednesday, Governing, BoC, BMO Capital Markets, Canadian, Reuters, TD Securities, Reuters Graphics Liberal, Conservative, Finance, Thomson Locations: Ottawa , Ontario, Canada

☆ Remember when Will Smith’s ‘Fresh Prince’ wardrobe broke boundaries?
▼ + stars: | 2023-09-04 | by ( Hanna Phifer | ) edition.cnn.com time to read: +6 min

(CNN) — Upon reflection, the odd couple sensibilities that captivated viewers of “The Fresh Prince of Bel-Air” were in place even before the cameras started rolling. Smith's "Fresh Prince" fashions captured, and curated, the visual aesthetic of hip-hop culture. Uncle Phil, conversely, stuck closely to upper middle-class regalia, with suits, sweater vests, and golf polos. “You wore a dashiki and an afro.”Uncle Phil and Smith face off in a scene from the "Fresh Prince" episode "How I Spent My Summer Vacation." As DJ Jazzy Jeff & the Fresh Prince, Jeff Townes and Will Smith perform with backing dancers at the 1993 American Music Awards.

Persons: Bel, Will Smith, James Avery, ”, Smith, Avery, Philip Banks, Phil, Elena Romero, Chris Haston, Uncle Phil, ” Smith, “, Joseph Del Valle, ” Romero, Flash, Jazzy Jeff, Jeff Townes, Banks Organizations: CNN, ”, NBC, Civil, Black, Museum, FIT, Fashion Institute of Technology, Getty, Black American, ” Entertainment, ABC, Smith Locations: West Philadelphia, California, United States, New York, America

☆ Canadian dollar posts biggest loss in 1 month as economy shrinks
▼ + stars: | 2023-09-01 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

[1/2] A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. The loonie was trading 0.6% lower at 1.3595 to the U.S. dollar, or 73.56 U.S. cents, its biggest decline since Aug. 1. "The Bank of Canada's job is done," said Adam Button, chief currency analyst at ForexLive. "The Canadian dollar is selling off because the debate will quickly shift to when rate cuts are coming. Separate data showed that the contraction in Canada's manufacturing sector gathered pace in August.

Persons: Mark Blinch, Adam Button, It's, Fergal Smith, Frances Kerry, Alison Williams Organizations: REUTERS, greenback, Canadian, U.S, of Canada, U.S ., Thomson Locations: Toronto, TORONTO, Canada

The second-quarter reading was far lower than the Bank of Canada's (BoC's) forecast for a 1.5% annualized GDP growth as well as the 1.2% gain expected by analysts. The quarterly slowdown was largely due to declines in housing investment and smaller inventory accumulation as well as slower international exports and household spending, Statistics Canada said. The central bank hiked its benchmark overnight rate to a 22-year-high of 5.0% in July, the tenth increase since March of last year. The high interest rate environment has coincided with falling housing investment, which recorded its fifth consecutive quarterly decrease in the three months ended in June. The housing investment decline was led by a sharp drop in new construction as well as a fall in renovation activities, Statscan said.

Persons: Stephen Brown, Andrew Kelvin, Statscan, downwardly, Doug Porter, Ismail Shakil, Steve Scherer, Dale Smith, Fergal Smith, Nivedita Balu, Mark Porter Organizations: Bank of Canada's, North, Capital Economics, Bank of Canada, Statistics, BoC, Reuters, TD Securities, Money, Canadian, BMO Capital Markets, Thomson Locations: OTTAWA, North American, Statistics Canada, Canada

☆ Canadian dollar posts biggest monthly decline since February
▼ + stars: | 2023-08-31 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. The loonie was trading 0.1% higher at 1.3515 to the greenback, or 73.99 U.S. cents, after moving in a range of 1.3505 to 1.3557. For the month, the currency lost 2.4%, its biggest monthly decline since February. "The laggards (in August) among G10 currencies are predominantly the commodity complex," said Michael Goshko, senior market analyst at Convera Canada. Canadian government bond yields were mixed across the curve, with the 10-year down 1 basis point at 3.566%.

Persons: Mark Blinch, Michael Goshko, Fergal Smith, Grant McCool Organizations: REUTERS, greenback, U.S, Convera, New Zealand, Bank of Canada, Thomson Locations: Toronto, TORONTO, China, Norwegian, Canadian

☆ Canadian economy set to show marked slowdown in second quarter, giving central bank cause to pause
▼ + stars: | 2023-08-27 | by ( Fergal Smith | ) www.reuters.com time to read: +3 min

[1/2] Condominium and office towers are seen on the mountain-backed skyline of Vancouver, British Columbia, Canada September 30, 2020. The GDP report will be the last major piece of domestic data before the Canadian central bank makes its next policy decision on Sept. 6. The central bank has said it would study economic data closely before determining whether it raises interest rates further. The BoC has projected 1.5% growth for the third quarter, matching its second-quarter estimate. Some argue that the composition of growth in the second-quarter data, including the split between internal and external demand, could also be a consideration.

Persons: Jennifer Gauthier, Carlos Capistran, Bank of America Merrill Lynch, Benjamin Reitzes, we've, Stephen Brown, Andrew Grantham, Fergal Smith, Denny Thomas, Jonathan Oatis Organizations: REUTERS, Rights, Bank of Canada, BoC, Bank of America, BMO Capital Markets, Money, North, Capital Economics, CIBC Capital Markets, Thomson Locations: Vancouver , British Columbia, Canada, Canadian, Mexico, North America

☆ TSX ends lower as tech falls, investors weigh bank earnings
▼ + stars: | 2023-08-24 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 103.96 points, or 0.5%, at 19,775.83, giving back some of the previous day's rally. "Considering the softness on the U.S. side, the Canadian market held up well," said Lorne Steinberg, president, Lorne Steinberg Wealth Management Inc. Shares of Toronto-Dominion Bank (TD.TO) were down 3.2% after the bank missed analysts' estimates for quarterly profit. But Royal Bank of Canada (RY.TO) shares ended 2% higher as it beat estimates, helped by cost cutting measures.

Persons: Chris Helgren, Jerome Powell's, Lorne Steinberg, Steinberg, Fergal Smith, Siddarth, Marguerita Choy, Shweta Agarwal Organizations: Toronto Stock Exchange, REUTERS, Tech, RBC, Toronto Stock, Federal, Lorne Steinberg Wealth Management Inc, Dominion Bank, Royal Bank of Canada, Thomson Locations: Toronto , Ontario, Canada, U.S, Toronto, Bengaluru

As of January 2023, residential mortgage debt stood at C$2.08 trillion ($1.53 trillion), according to the Canada Mortgage and Housing Corporation (CMHC). Mortgage rates tend to track moves in the bond market with a lag. At 6.79%, the five-year mortgage rate posted by major Canadian banks has climbed to its highest since November 2008, data from the Bank of Canada shows. When it is time for renewal, options for homeowners hoping to shop for better interest rates might be limited as they would have to re-qualify for the stress test at the latest interest rates with their new lender. "It certainly is going to be problematic for the Canadian economy if rates stay at this level."

Persons: that's, James Laird, Laird, Daniel Foch, Foch, Stephen Brown, Nivedita Balu, Fergal Smith, Denny Thomas, Jonathan Oatis Organizations: TORONTO, Bank of Canada, Canada Mortgage, Housing Corporation, Ratehub.ca, Bank of, Toronto Regional Real Estate Board, Greater Toronto Area, Reuters, North, Capital Economics, Thomson Locations: United States, Toronto, Greater Toronto, Canada, North America

☆ TSX hits a 2-month low as dividend-paying stocks fall
▼ + stars: | 2023-08-21 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 33.52 points, or 0.2%, at 19,784.87, its lowest closing level since June 27. "Interest rates continue to climb, which is something negative for the TSX which is littered with dividend payers," said Barry Schwartz, a portfolio manager at Baskin Financial Services. Stocks paying high dividends dominate the real estate, utilities and financials sectors. Shares of Restaurant Brands International (QSR.TO) gained 0.9% after J.P.Morgan initiated coverage on the stock with an "overweight" rating.

Persons: Chris Helgren, Barry Schwartz, Stocks, Fergal Smith, Shubham Batra, Shashwat Chauhan, Shilpi Majumdar, Deepa Babington Organizations: Toronto Stock Exchange, REUTERS, Energy, Toronto Stock, TSX, Baskin Financial Services, Bank of Canada, Technology, Restaurant Brands, Thomson Locations: Toronto , Ontario, Canada, Real, Toronto, Bengaluru

☆ Canadian dollar hits 2-month low after surprise jobs loss
▼ + stars: | 2023-08-04 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. For the week, the risk-sensitive currency was down 0.9%, its third straight weekly decline, as a jump in long-term bond yields rattled equity market investors. The Canadian economy shed 6,400 jobs in July, missing estimates for a gain of 21,100, while the jobless rate ticked up to 5.5%. Money markets see chances of another Bank of Canada rate hike this year at about 50%, down from 80% before the jobs report. Canadian government bond yields fell across the curve.

Persons: Mark Blinch, Jay Zhao, Murray, Fergal Smith, Grant McCool Organizations: REUTERS, greenback, Canadian, U.S, Bank of Canada, Monex Canada, Canada, U.S ., Thomson Locations: Toronto, TORONTO

☆ Canada unexpectedly sheds jobs in July, central bank seen pausing hikes
▼ + stars: | 2023-08-04 | by ( Ismail Shakil | ) www.reuters.com time to read: +3 min

Money markets see a 28% chance of a rate hike in September, down slightly from 32% before the data. Money markets see a 60% chance of another rate hike by the end of the year, down from 80% before the data. "I think their (the Bank's) conclusion from this would be that it's probably not a bad idea to pause on the rate hike front," he said by phone. While headline figures indicated some slowness, the average hourly wage for permanent employees - a figure the Bank of Canada watches closely - rose 5.0% from July 2022. "The softer labor market data support our view that the Bank is unlikely to follow through with current market pricing by raising rates further," he said.

Persons: Chris Helgren, Doug Porter, Royce Mendes, Stephen Brown, Statscan, David Ljunggren, Dale Smith, Fergal Smith, Jonathan Oatis, Nick Zieminski Organizations: REUTERS, OTTAWA, Bank of Canada, Reuters, Statistics, The, BMO Capital Markets, U.S ., Desjardins, North, Capital Economics, Thomson Locations: Toronto , Ontario, Canada, Canadian, Statistics Canada, North America, Ottawa, Toronto

☆ TSX starts month on weak note as China slowdown hits sentiment
▼ + stars: | 2023-08-01 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 93.71 points, or 0.5%, at 20,532.93, after posting its highest closing level in three months in the previous session. The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.8% as gold and copper prices fell. Shares of Silvercrest Metals (SIL.TO) were particularly weak, plunging 21.5% after two brokerages cut their price target on the stock. The TSX notched a gain of 2.3% in July, while it has advanced 5.9% since the start of the year.

Persons: Mark Blinch, Robert McWhirter, Fergal Smith, Siddarth, Shilpi Majumdar, Cynthia Osterman Organizations: Toronto Stock Exchange, REUTERS, Metals, Toronto Stock, Selective Asset Management Inc, Canada's, Silvercrest Metals, TSX, Thomson Locations: Toronto, China, Coast, Bengaluru

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