CIBC's Week Ahead Market Call For Canada

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CIBC's Week Ahead Market Call For Canada

, MT Newswires - 2:39 PM ET 3/28/2025 default

02:39 PM EDT, 03/28/2025 (MT Newswires) -- According to Avery Shenfeld, Canada's trade data could still be supported by shipping ahead of threatened tariffs from the United States, but CIBC expects a bit of narrowing in Canada's trade surplus in February next Thursday.

As always, Shenfeld noted, we don't have much to go on in estimating the jobs figures, but he said a rebound from any downside in February due to weather could be offset by the first haircuts to staffing on the goods side and transportation services, if there was winding down of activity tied to beating tariff deadlines. That, he added, might add up to a flat month for headcounts.

Shenfeld said the market's focus will be on the April 2nd U.S. tariff announcement, and on what Canada says about a retaliatory response.

(Also on the CIBC calendar for next week is an auction of $5.3 billion in 10-YR Canadas.)

Price: 80.13, Change: -0.92, Percent Change: -1.14

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