Canada Macro Daily(Beta Mode)
TSX Rises Amid Yield Surge
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| S&P/TSX | 34,268.30 | +0.67% |
| USD/CAD | 1.37 | +0.32% |
| EUR/CAD | 1.60 | -0.31% |
| WTI Crude | 99.67 | -1.48% |
| Natural Gas | 2.91 | +0.66% |
| Gold | 4,567.00 | -2.37% |
| Brent Crude | 108.23 | +2.37% |
| Bitcoin | 80,600.73 | -0.56% |
| 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 | |||
Canada 10Y Govt Yield | Type: macro_line | 10Y Yield %: 3.44 (2026-03-01) | Range: 1.192–4.062 | Trend(6pt): 1.425,2.859,4.062,3.162,3.288,3.44
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| 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 |
| Friday (2026-05-22) | |||
| Retail Sales Excluding Autos Month-over-Month | 0.50 | - | 08:30 |
| Retail Sales Month-over-Month Final | 0.70 | 0.60 | 08:30 |
| Retail Sales Month-over-Month Prel | - | - | 08:30 |
- S&P/TSX climbed 0.67% to 34,268.30, supported by energy and financial sectors.
- Bond yields jumped, with 10-year up 4.61% to 3.44% on inflation concerns.
- USD/CAD rose 0.32% to 1.37, while oil prices showed mixed performance.
Yesterday's Recap
On May 14, Canadian markets posted gains with the S&P/TSX Composite closing at 34,268.30 after a 0.67% rise, led by energy and financial stocks despite volatile commodities. Bond yields increased notably, with the 2-year at 2.26% (+0.44%) and 10-year at 3.44% (+4.61%), reflecting caution over persistent inflation. USD/CAD gained 0.32% to 1.37, while EUR/CAD fell 0.31% to 1.60 amid eurozone softness.
Energy markets varied: WTI Crude dropped 1.48% to 99.67, Brent Crude rose 2.37% to 108.23, and Natural Gas increased 0.66% to 2.91. Gold declined 2.37% to 4,567.00, weighing on miners, and Bitcoin eased 0.56% to 80,600.73. No economic data was released, as markets focused on global news including UK growth resilience and ECB rate uncertainty.
The Day Ahead
Focus today is on Housing Starts at 08:15 ET, with consensus of 240,000 against prior 235,900, which may affect views on housing and BoC policy. On May 19, key releases include Inflation Rate YoY (prior 2.4%), Core Inflation YoY (prior 2.5%), Inflation MoM (prior 0.9%), and New Housing Price Index MoM (prior -0.2%), all at 08:30 ET, potentially influencing easing expectations. May 22 brings Retail Sales MoM Final (consensus 0.6%, prior 0.7%), Retail Sales Ex-Autos MoM (prior 0.5%), and Retail Sales MoM Prel at 08:30 ET, providing consumer spending insights.
No BoC events today, so data will drive CAD and yield movements amid energy price fluctuations.
Other Economic Notes
Housing affordability remains a concern, with CPI at 2.32% YoY as of March 2025 highlighting shelter pressures. Brookfield Corp. reported profits and plans to merge shares with its insurance unit, advancing its shift toward investment management.
A study of Canadian workers found sleep and diet more effective than exercise in countering chronic stress health impacts, relevant to labor productivity. Enbridge gained regulatory approval for a US$1.2 billion pipeline expansion, supporting energy infrastructure.
Global Macro News
UK economy showed strongest growth in a year despite Middle East tensions, potentially signaling similar resilience for Canada's exports. <i>↓ p.2</i>
