CANADA ECONOMICS: Canadian Market Summary From Action Economics
GoCs remained on a "corrective footing" as asset markets consolidated recent strength into the ECB announcement on Thursday and U.S. nonfarm payrolls at the end of the week. Firm U.S data helped to keep a floor under yields, including a solid rise for April factory orders. But the market also turned attention to the BoC announcement on Wednesday, with reduced risk of disinflation competing with recent disappointing GDP data.
USD-CAD traded in a narrow range, but still firming to a 12 day high at 1.0921. And the S&P/TSX Composite was able to build on Monday's rally, led by financials.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.