Market News

The US government officially shut down last night at midnight ET, creating uncertainty across markets and delaying key federal data releases, including Friday’s nonfarm payrolls (NFP) report. Private-sector and Federal Reserve data will still be released, meaning markets are not completely in the dark. The shutdown has weighed on the US dollar, as DXY fell

The U.S. economy showed surprising resilience in Q2 2025, with strong consumer spending pushing final GDP growth up to 3.8%, far beating expectations of 3.3%. This follows a 0.6% contraction in Q1, the first retreat in three years, which was largely caused by a surge in imports in anticipation of tariffs. The stronger-than-expected growth in

The Bank of Canada delivered its first interest rate cut since March, lowering the benchmark rate by 25 basis points to 2.50% amid clear signs of economic weakness and a reduced risk of inflation surging. This move was widely anticipated by markets following three consecutive rate holds. The central bank cited a softening labor market,

Canadian employment shocked this morning with a disappointing 65,500 drop in employed people, following July’s 40,800 decline. This bumped Canada’s unemployment rate up to 7.1%, while it was projected to increase marginally from 6.9% to 7.0%. This marks Canada’s highest unemployment rate since May 2016, excluding the COVID-19 pandemic. The stalled job market adds pressure

The latest U.S. data points to a cooling labour market, showing that ADP non-farm employment rose by 54,000 in August, falling short of expectations for a 73,000 increase and well below July’s 106,000 gain. Hiring has slowed under the weight of import tariffs and stricter immigration policies, with the government reporting that in July there

U.S. economic data delivered another upside surprise as Q2 GDP grew 3.3%, beating expectations of 3.1%. The strength came largely from consumer spending and a drop in imports, which eased the drag on growth, while weaker business investment and exports held back further gains. On the labor front, jobless claims fell by 6,000 to 229,000

At the Fed’s annual Jackson Hole Symposium, Chair Jerome Powell indicated that current economic conditions “may warrant” an interest rate cut at the upcoming September 16–17 meeting. However, he stressed that the Fed will proceed cautiously, carefully assessing the impact of tariffs and other policies on the broader economy. The labor market remains in a

Tuesday kicked off with the Reserve Bank of Australia cutting its cash rate to 3.60% from 3.85%, as expected, marking a 25-basis-point reduction. In the U.S., Core CPI rose 0.3% in July, matching forecasts but edging up from 0.2% in June, while headline CPI increased 0.2% month-over-month, slightly cooler than the prior 0.3%. Wednesday brought

The U.S. has officially implemented a sweeping set of tariffs, marking a historical shift in global trade policy. As of midnight last night, new “reciprocal” tariffs ranging from 10% to 50% now apply to imports from nearly 200 countries. Top trading partners, such as the European Union, Japan, and South Korea are facing a rate

This morning, the Bank of Canada held its overnight rate unchanged at 2.75%, a move that was widely expected given ongoing trade uncertainty and mixed inflation signals. While headline inflation remains near the 2% target, the Bank emphasized that risks remain in both directions. A slowing economy weighs on prices, but higher costs related to