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Reassessment of BoC Rate Cut Expectations After Robust Canadian Jobs Report

The latest Canadian jobs data has led to a significant shift in market expectations regarding the Bank of Canada’s (BoC) interest rate decisions. Here’s a concise overview: Unexpected Job Surge : April saw the addition of 90,400 jobs , far surpassing the anticipated 20,000 . This robust employment growth has caused money markets to reassess the likelihood of an imminent rate cut by the BoC. Rate Cut Probabilities Altered : Prior to the jobs report, the probability of a rate cut in June was 58% , which has now decreased to below 50% . Markets are now leaning towards a cut in July, with a 70% chance. Economic Indicators : Despite the job increase, wage growth has decelerated to 4.8% annually, the slowest in ten months, hinting at potential slack in the labor market. Market Movements : The Canadian dollar and government bond yields reacted sharply to the news, with the dollar appreciating and the 2-year bond yield rising by 10 basis points . This data has not only influenced market pred
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Hamas Reviews Israeli Cease-Fire Proposal Amid Escalating Conflict in Gaza


In the ongoing conflict between Israel and Hamas, there are renewed efforts to reach a cease-fire agreement. Here’s what we know:

  • Israeli Proposal: Hamas has announced that it is reviewing a new Israeli proposal for a cease-fire in Gaza. The details of Israel’s offer have not been disclosed, but it comes in response to a proposal from Hamas two weeks ago. Negotiations earlier this month centered on a six-week cease-fire and the release of hostages in exchange for Palestinian prisoners held in Israeli jails.

  • Egyptian Mediation: A high-level Egyptian delegation recently visited Israel, discussing a “new vision” for a prolonged cease-fire in Gaza. The discussions focused on a multi-phase plan that includes the release of hostages and the return of displaced Palestinians to their homes in northern Gaza with minimal restrictions. Egypt has warned that an Israeli offensive into Rafah could have “catastrophic consequences” for the humanitarian situation and regional peace.

  • Growing International Pressure: As casualties mount, there is increasing international pressure for both Hamas and Israel to reach an agreement. More than half of Gaza’s 2.3 million people have sought refuge in Rafah after fleeing fighting elsewhere in the territory. Israel has been considering a ground offensive into Rafah, despite calls for restraint from the international community, including the United States.

Efforts to find common ground continue, but the situation remains tense. The hope is that negotiations will lead to a larger deal to end the war and prevent further escalation in the region. Stay tuned for updates as developments unfold.


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