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5 Things to Know Today — June 21, 2026

  Whether you're starting your week or wrapping up your weekend, here are the five Canadian money stories shaping your financial picture right now. 1 Canada Is Technically in a Recession — And the Political Fight Is On Canada's GDP contracted 0.1% on an annualized basis in Q1 2026, following a 1% decline in Q4 2025 — two consecutive quarters of negative growth that meet the textbook definition of a technical recession. Prime Minister Mark Carney has called it a "settling-in period" tied to his government's restructuring of the economy in response to the U.S. trade war. Conservative Leader Pierre Poilievre has been relentless in his counter-offensive, pointing to rising insolvencies, job losses and food bank usage as proof that the downturn is real, not technical. Many economists, including BMO's chief economist Douglas Porter, have noted that a future revision to Statistics Canada's data could erase the slim 0.1% contraction — meaning this may not ultimate...
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Tariff Tensions Shake Premarket as Inflation Data Looms

                                         

U.S. futures are exhibiting notable jitters in premarket trading following President Trump’s latest warning on imposing additional tariffs on countries that levy duties on U.S. imports. The renewed threat is adding to an already volatile atmosphere, with investors bracing for the imminent release of key inflation data later this morning.

Market participants are expressing heightened caution as the tariff threat intensifies trade policy uncertainty. “The prospect of extra tariffs not only disrupts global supply chains but also compounds inflationary pressures,” said one market strategist. Many fear that protectionist measures could fuel higher consumer prices, especially in sectors already under pressure from rising costs.

U.S. futures for major indices—the Dow Jones, S&P 500, and Nasdaq—are showing mixed movements as traders weigh the potential economic fallout. The dollar has strengthened modestly, reflecting a flight to safety amid concerns over policy unpredictability and persistent inflation. Investors are closely watching upcoming economic reports, including the Producer Price Index, which could offer further insights into the inflationary trend.

With President Trump signaling that any country imposing duties on U.S. goods might face reciprocal tariffs, experts warn that such measures could trigger a broader trade war. This would not only escalate global economic tensions but also undermine the Federal Reserve’s efforts to maintain price stability. For now, traders remain alert, anticipating that the forthcoming inflation data could significantly influence both market sentiment and future monetary policy decisions.

As uncertainty persists, analysts advise investors to proceed with caution and keep a close eye on how these policy moves, alongside the inflation readings, may shape the trading day ahead.

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