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Gas Prices Are Finally Falling in Canada — Here's How Much You're Saving and What Comes Next

After weeks of painful price spikes driven by the U.S.-Iran conflict, Canadians are finally catching a break at the pump. The national average gas price dropped to 169.1 cents per litre on Monday, April 20 — down from a peak near 198 cents — as two things happened at once: Iran reopened the Strait of Hormuz to commercial traffic, and Prime Minister Mark Carney's federal fuel excise tax suspension came into effect. National Average 169.1¢/L ▼ Down from ~198¢/L peak Gas savings (excise tax) 10¢/L off gasoline until Sept. 7 Diesel savings 4¢/L off diesel until Sept. 7 WTI Crude (current) ~$87 ▼ Down from $120 peak What just happened — and why Since the U.S.-Iran conflict began in late February, Brent crude surged more than 55%, briefly topping $120 a barrel — the largest oil supply shock in the history of global markets, according to the Interna...
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US Futures Rise After Strong February Jobs Report

 


In a positive turn of events, US stock futures remained steady after the release of the February jobs report. The report revealed that the US economy added 275,000 jobs, surpassing Wall Street expectations once again. However, there was a slight increase in the unemployment rate, ticking up to 3.9%, marking its first rise in four months.

Key Takeaways:

  • Job Growth: The economy demonstrated robust job growth, reflecting resilience despite recent challenges.
  • Federal Reserve Implications: The slowdown in job additions could prompt the Federal Reserve to consider interest rate cuts as a preventive measure against rising unemployment.
  • Investor Sentiment: Investors are closely monitoring the data, anticipating the Fed’s response and its impact on the markets.

Market Outlook:

  • S&P 500 and Nasdaq 100: Futures for these indices edged up shortly after 5 a.m. ET, signaling a positive start to the trading day.
  • Dow Jones Industrial Average: Despite some initial weakness, the Dow was poised to shed about 40 points.
  • London’s FTSE 100: The blue-chip index experienced a 0.4% decline in morning trading.
  • Chipmakers: AI darling Nvidia continued its winning streak, rising 3% in premarket trading in New York.

Investors will closely watch the non-farm payrolls report, which tracks the number of jobs added last month. Economists predict a slowdown from 353,000 to 200,000 jobs, potentially influencing the Fed’s decision on interest rates2. Fed Chair Jerome Powell emphasized the need for more data and a sustained cooling of inflation before any rate adjustments.

As the markets open, all eyes are on the employment data, shaping the trajectory of financial decisions in the coming days. Stay tuned for further updates!


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