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Canada’s Labour Market Surges in June, Defying Economic Forecasts

Canada’s job market delivered a pleasant surprise in June, as the national unemployment rate dipped to 6.9% , defying economists’ expectations of a rise to 7.1%. According to Statistics Canada, the economy added 83,000 jobs , marking the first significant employment gain since January. The bulk of the new positions were part-time roles , with 47,000 jobs  created in the private sector. Key growth sectors included wholesale and retail trade , which added 34,000 jobs, and health care and social assistance , which saw a boost of 17,000 positions. Even the manufacturing sector , previously hit by trade tensions, posted a modest gain of 10,000 jobs. This unexpected uptick in employment has prompted analysts to reconsider their forecasts for the Bank of Canada’s upcoming interest rate decision. While some had anticipated a rate cut, the strength of the June labour report may delay such moves. Despite the positive headline numbers, challenges remain. Student unemployment  remains ele...
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Tariff Turbulence: Trump’s Trade Salvo Rattles Markets Ahead of Earnings Season

Wall Street and TSX futures dipped Friday morning as President Donald Trump reignited trade tensions with a sweeping new round of tariffs. The U.S. announced a 35% levy on Canadian imports starting August 1, while Trump floated blanket tariffs of 15% to 20% on other trading partners—up from the current 10% baseline.

The move sent Dow, S&P 500, and Nasdaq futures down between 0.5% and 0.7%, with similar declines seen in Canadian TSX futures. Investors, already bracing for next week’s earnings season, are now recalibrating expectations amid heightened trade uncertainty.

Despite the market jitters, analysts noted a growing resilience among investors. The reaction to Trump’s latest tariff barrage was notably more muted than the volatility seen during April’s “Liberation Day” announcements. Still, the timing—just ahead of key corporate earnings and inflation data—adds a layer of complexity to market sentiment.

Meanwhile, cryptocurrency stocks ticked higher, buoyed by Bitcoin’s surge to a new record. And as Wall Street’s big banks prepare to report results next week, all eyes will be on how trade disruptions are reflected in corporate performance.



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