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5 Things to Know Today: July 7, 2026

July 7, 2026 Your quick morning rundown of the market and money news shaping Canadians' wallets today. 1. TSX Hovers Near Record Territory After Gold-Led Rally The S&P/TSX Composite closed at a record high of 35,274.84 on Friday, a gain of 0.88%, powered by a surge in gold mining stocks. The index has stayed close to that record through the start of this week as bullion prices remain elevated. For Canadian investors, especially anyone holding TSX-tracking ETFs in an RRSP or TFSA, the rally has been broad-based across financials and materials, though gains have leaned heavily on gold and mining names rather than the whole market. 2. Gold Steadies Near $4,150 US After a Volatile Start to the Week Gold is holding around US$4,150 an ounce as investors await Wednesday's Federal Reserve meeting minutes. The metal's strength traces back to Friday's much weaker-than-expected US jobs report, which cooled bets on a near-term Fed rate hike. For Canadians, gold's resilien...
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Canada’s Inflation Rate Falls to 2.7% in April Amid Price Growth Slowdown

 

Canada’s annual inflation rate declined to 2.7 per cent in April, down from 2.9 per cent in March. This broad-based deceleration in price growth provides the Bank of Canada (BoC) with a potential “all clear” signal for a June rate cut.

Key Points:

  1. Food Prices, Services, and Durable Goods: The slowdown was led by food prices, services, and durable goods. These sectors experienced a moderation in price increases, contributing to the overall cooling of inflation.

  2. BoC’s Considerations: With inflation easing, the BoC may have more room to maneuver its monetary policy. A rate cut could stimulate economic activity and support recovery.

  3. Market Expectations: Analysts are closely watching the BoC’s next move. If the trend continues, a rate cut in June could be on the horizon.

Implications:

The decline in inflation suggests that the Canadian economy is stabilizing after a period of rapid price increases. While the BoC will carefully assess economic data, the recent cooling of inflation provides an opportunity for policy adjustments.

As always, market participants and consumers should stay informed about central bank decisions and their potential impact on borrowing costs, investments, and overall economic conditions.


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