Canada Macro Daily(Beta Mode)
TSX Dips, Yields Rise on Inflation Fears
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| S&P/TSX | 34,041.40 | -0.73% |
| USD/CAD | 1.37 | +0.17% |
| EUR/CAD | 1.60 | -0.15% |
| WTI Crude | 100.64 | -0.38% |
| Natural Gas | 2.82 | -1.50% |
| Gold | 4,706.90 | +0.20% |
| Brent Crude | 105.04 | -0.56% |
| Bitcoin | 79,833.98 | +0.70% |
| Canada 2Y Govt Yield | 2.26% | +0.44% |
| Canada 10Y Govt Yield | 3.44% | +4.61% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
WTI Crude Oil Prices | Type: macro_line | WTI Price $: 101.6 (2026-05-11) | Range: 55.44–123.6 | Trend(5pt): 66.24,97.02,77.96,72.73,101.6
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Friday (2026-05-15) | |||
| Housing Starts Level | 235,900 | 240,000 | 08:15 |
| Tuesday (2026-05-19) | |||
| Inflation Rate Year-over-Year | 2.40 | - | 08:30 |
| Core Inflation Rate Year-over-Year | 2.50 | - | 08:30 |
| Inflation Rate Month-over-Month | 0.90 | - | 08:30 |
| New Housing Price Index Month-over-Month | -0.20 | - | 08:30 |
- S&P/TSX fell 0.73% to 34,041.40, pressured by energy declines as WTI crude dropped 0.38% to $100.64.
- Canada 10Y yield jumped 4.61% to 3.44%, boosting USD/CAD 0.17% to 1.37 amid global rate bets.
- No data releases yesterday; attention on tomorrow's housing starts and Tuesday's inflation metrics.
Yesterday's Recap
Canadian markets ended lower, with the S&P/TSX Composite declining 0.73% to 34,041.40, led by weakness in energy amid falling commodity prices. WTI crude decreased 0.38% to $100.64, and Brent crude fell 0.56% to $105.04, on global demand worries. Natural gas dropped 1.50% to $2.82, weighing on resource stocks.
USD/CAD strengthened 0.17% to 1.37, supported by higher U.S. yields, while EUR/CAD dipped 0.15% to 1.60. Bond yields rose, with the 10Y up 4.61% to 3.44% and the 2Y gaining 0.44% to 2.26%, reflecting inflation expectations.
Gold rose 0.20% to $4,706.90 as a safe haven, and Bitcoin advanced 0.70% to $79,833.98.
The Day Ahead
Tomorrow features Housing Starts Level at 08:15 ET, with consensus of 240,000 against previous 235,900, gauging construction activity. A beat could lift real estate equities and mitigate GDP concerns. On Tuesday, high-impact Inflation Rate YoY releases at 08:30 ET, following prior 2.4%, alongside Core Inflation YoY (prior 2.5%), Inflation Rate MoM (prior 0.9%), and New Housing Price Index MoM (prior -0.2%).
These could shape BoC policy odds amid volatility. No BoC events today.
Other Economic Notes
Energy developments include Crown Point Energy reporting Q1 results and Hydrostor announcing an advanced compressed air storage project in Ontario for grid support. Hyundai Translead launched XCIENT fuel cell trucks in Canada via Breadner Trailers. BCE Inc.
beat Q1 EPS expectations. UCLOUDLINK Group shared unaudited Q1 financials. Lenovo was named a leader in mid-market digital solutions.
Ottawa eased dairy tariffs under USMCA, potentially aiding trade ties. Canada's military recruitment surged, marking a 30-year high for defense enhancements.
