MNI BRIEF: Industrial, Service Rebound Buoys China's Q1 GDP

MNI: PBOC Conducts CNY2 Bln Via OMO Tues; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

MNI: PBOC Sets Yuan Parity Higher At 7.1028 Tues; -5.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1028 TUES VS 7.0979

MNI China Daily Summary: Monday, April 15

GBPUSD possible reversal if STIR markets see more rate cut expectations

Early BOE cuts look less likely after strong wage data

Private sector regular wage growth higher than consensus expectation

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Early Analyst Takes On Mixed Labour Report

CANADA
  • The Canadian labour report was mixed in July as jobs surprisingly fell -31k after -43k (and with a growing darg from full-time), but another decline in the labour force kept the u/e rate at a series low of 4.9%.
  • Early analyst takes:
  • BMO: The job market is clearly losing momentum in a hurry, likely due to both a marked cooling in the broader economy but also because a lack of available workers. The downward drift in the participation rate, especially 15-64yrs, is worth watching closely, with the potential to tighten the labour market further. We look for a 50 bp hike in Sept.
  • RBC: Two months of lower employment indicates the labour market is running up against capacity constraints, with little room for upside movement. In the months ahead we will begin to see the economy lose steam, with Canada not far behind the rise in jobless claims in the US. With the BoC having hiked 225bps (to 2.5%) since March, and at least another 75bps slated for the fall, inflation pressures will ease.
BulletMarketsFixed Income BulletsForeign Exchange BulletsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.