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Unemployment Data To Headline Canadian Economic Calendar This Week

WHAT HAPPENED:

  • The TSX lost 0.2%, outperforming EU benchmarks but underperforming the S&P500’s +0.5% gain.
  • Volumes were good w/ mid caps outperforming, win/ loss ratio was balanced.
  • Losses in Financials and Gold stocks weighed most heavily. Energy was amongst the leaders helped by Health, Tech and Industrials.
  • C$ - C$ flat against the US$ despite speculative longs increasing last week.
  • CommoditiesOil lost 3% as momentum faded, long positioning continues to decrease; Gold lost 0.3%, ~-1% YTD.
  • CA ETF Flows – outflows from most sectors, heaviest outflows from CA Energy and Financial ETFs, Tech one of the lone names to see inflows; outflows also seen in benchmark ETFs.

U.S. ETF Flows – U.S. Financials saw their third consec. week of outflows, w/ investors showing a preference for Utilities and Consumer ETFs; benchmark ETFs saw across the board outflows to the benefit of bonds.

WHAT’S TO COME:

  • Technicals – TSX momentum has turned negative in-line w/ Energy, 16,200 resistance remains intact on the upside.
  • Earnings – not many releases, the largest being DOL and SAP.
  • CA economic calendar – employment data will headline later this week; the U.S. will see manufacturing and trade data released.
  • Index – Russell annual rebalance results will be announced on Friday.


Nasdaq Advisory Services Canadian Team Prab Sagoo
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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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