Canada Macro Daily(Beta Mode)
TSX Climbs as CAD Strengthens on Yield Shift
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| S&P/TSX | 36,458.30 | +0.21% |
| USD/CAD | 1.40 | -0.45% |
| EUR/CAD | 1.61 | -0.27% |
| WTI Crude | 82.33 | +0.24% |
| Natural Gas | 2.76 | -1.25% |
| Gold | 4,445.80 | +1.93% |
| Brent Crude | 87.83 | +0.13% |
| Bitcoin | 64,286.12 | +0.59% |
| Canada 2Y Govt Yield | 2.27% | +1.00% |
| Canada 10Y Govt Yield | 3.42% | -3.43% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Canada 10Y Govt Yield | Type: macro_line | Yield %: 3.42 (2026-06-01) | Range: 1.263–4.062 | Trend(6pt): 1.263,3.166,3.346,3.01,3.542,3.42
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- S&P/TSX gained 0.21% to 36,458.30 amid energy and gold strength.
- USD/CAD fell 0.45% to 1.40 as Canadian 10-year yields declined 3.43%.
- Gold rose 1.93% to 4,445.80 while WTI crude added 0.24% to 82.33.
Yesterday's Recap
Canadian markets posted modest gains on August 10 with the S&P/TSX closing 0.21% higher at 36,458.30. The Canadian dollar strengthened against the US dollar as USD/CAD dropped 0.45% to 1.40 and EUR/CAD eased 0.27% to 1.61. Government bond yields showed divergence with the 2-year rising 1.00% to 2.27% while the 10-year fell 3.43% to 3.42%.
Energy prices supported the equity advance as WTI crude settled at 82.33 after a 0.24% gain and Brent crude reached 87.83. Gold prices surged 1.93% to 4,445.80 providing further lift to materials stocks. Natural gas declined 1.25% to 2.76 on milder weather forecasts.
No major Canadian data releases occurred and Bitcoin rose 0.59% to 64,286.12. Alberta energy producers reported strong Q2 cash flow but warned of widening WTI-WCS differentials after Enbridge maintenance. Housing starts fell 4.1% m/m in July, extending the slowdown in resale activity.
Ottawa and Washington resumed talks on softwood lumber duties; any new tariffs would hit BC forestry employment.
The Day Ahead
No scheduled Canadian economic releases appear on the calendar for August 11. Market participants will monitor global oil price movements given their direct impact on CAD and TSX energy components. US inflation data later in the week may influence cross-border yield spreads and CAD crosses.
Traders will also track any updates on British Columbia wildfire containment efforts that could affect regional economic activity. Attention remains on Bank of Canada communications for signals on the 2.25% policy rate path. July manufacturing sales and existing-home sales data are absent, leaving commodity volatility as the dominant driver.
Other Economic Notes
Canadian CPI stood at 2.80% year-over-year as of June 30 providing the latest inflation benchmark for policy assessment. The absence of domestic data this week leaves markets focused on commodity price volatility and external demand for Canadian exports. Wildfires in British Columbia have displaced thousands and disrupted forestry and tourism sectors adding downside risks to provincial growth.
Global central bank actions including the Reserve Bank of Australia’s decision to hold rates at 4.35% offer indirect context for BoC positioning. <i>↓ p.2</i>
