Canada Markets Summary
03:37 PM EST, 02/05/2021 (MT Newswires) -- Action Economics late Friday noted a dramatic drop in employment numbers earlier today was not enough to derail the equity rally, as investors look ahead to a vaccine driven recovery of the economy in the second half. even as back to back job drops in December and January bode poorly for the near term. The S&P/TSX was near 0.5% higher by late in the session, having put down fresh intra day record highs today. And, with four successive full days of gains already in the bag, a first winning week in a month is all but assured.
Elsewhere, AE noted, GoC climbed on the continued firming in risk sentiment, with yields 0.2 to 3.7 bps higher as the bear steepening trade shows no signs of slowing. USD-CAD fell to 1.2775 from 1.2830 overnight as crude oil prices firmed. In today's data, employment plunged -212.8k in January, leaving a much deeper decline than expected. The trade deficit narrowed to -C$1.7 bln in December from -C$3.6 bln in November
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