Markets

Canadian Market Summary

GoCs managed to rebound and the curve flattened as the recent correction in Bunds appeared to run out of steam. Economic data helped underpin yields in early trade, with U.S. jobless claims remaining lean and Canadian building permits rebounding more than expected. However, crude oil pulled back to US$59/bbl, trimming positive momentum for the domestic economy.

Attention has turned to U.S. and Canadian employment data on Friday. USD-CAD extended the rebound from a three-month low on Wednesday at 1.1938, making a 1.2162 session high along with broader gains for the greenback and the pullback in crude oil. And the S&P/TSX Composite managed a modest bounce, but only after having hit a fresh one-month low.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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