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5 Things to Know Today: 68,000 Jobs Lost, a Weaker Loonie and the Oct. 28 BoC Decision

  Oct 12, 2026   Happy Thanksgiving. Canadian markets are closed today, but the numbers that shape your wallet aren't taking the day off. Here are five things to know on Monday, October 12. 1. Canada lost about 68,000 jobs in September, wiping out 2026's gains Statistics Canada reported that employment fell by roughly 68,000 in September, following a 41,700-job drop in August. The unemployment rate edged up to 6.5% from 6.4%. Economists had forecast a small gain. Put the two months together and Canada has lost about 41,200 jobs so far this year, compared with a gain of 211,300 over the same stretch of 2025, according to Reuters. The losses were spread almost evenly between full-time and part-time work and were concentrated in the public sector. Workers aged 15 to 24 lost 48,000 jobs, Quebec shed 49,000, and Ontario's unemployment rate sits at 7.0%, the highest among the large provinces. Average hourly wages were up 2.3% from a year ago. What it means for you: A softening j...
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TSX Futures Point to Upbeat Open as Gold Shines; Powell Testimony in Focus

As the sun rises on the trading day, Canadian investors are keeping a close watch on the Toronto Stock Exchange (TSX). Here’s what’s happening in the premarket:

1. Gold Continues Its Ascent

  • Gold futures are glittering, reaching an impressive $2,162.5.
  • Investors are drawn to the precious metal as a hedge against inflation and uncertainty.

2. Powell Takes the Stage Again

  • Federal Reserve Chair Jerome Powell is back in the spotlight. His second day of congressional testimony is eagerly anticipated.
  • Yesterday, Powell hinted at potential interest rate cuts if inflation continues to wane. His words today could sway market sentiment.

3. Materials Sector Gains

  • The materials sector is poised for a sixth consecutive session of gains.
  • Copper touched a five-week high, fueled by better-than-expected trade data from China, a major metals consumer.

4. Oil Prices Slip

  • Despite upbeat Chinese trade data, oil prices are slipping. Expectations of delayed rate cuts are putting pressure on crude prices.

5. Bank of Canada’s Stance

  • The Bank of Canada (BoC) held its key overnight rate steady at 5%. BoC Governor Tiff Macklem emphasized that underlying inflation suggests it’s too early for a cut.
  • Investors find comfort in the expectation that inflation will ease in the second half of the year.

6. Descartes Systems Gets a Boost

  • Descartes Systems, a software company, saw its fourth-quarter revenue beat estimates. Four brokerages raised their price targets for the stock.

As the TSX gears up for the opening bell, all eyes remain on Powell’s testimony and economic data. Buckle up for a day of market moves and stay tuned for further developments.







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