Canada Markets Summary; TSX May Be Set For Fresh Record Close

Last Updated: Thursday, July 29, 2021 3:32 PM | MT Newswires

Action Economics noted bond trade was relatively quiet on Thursday, leaving GoC yields modestly higher across much of the curve. The 10-year settled about 2 basis points higher at 1.19%. The only data release was May average weekly earnings, which ticked up 0.9%, though the data was shrugged off by the markets.

Of more interest, the S&P/TSX was up near 0.50% at near 20.320, and heading towards a fresh record high close, with the Materials sector up more than 2%. Financials were up near 0.75% a while ago, with Energy up about 0.15%.

Elsewhere, the loonie firmed against the USD, as WTI crude prices hit two-week highs over US$73.35, taking USD-CAD to 1.2434 lows, from 1.2480 in early trade. Focus now shifts to Friday's May GDP report. It is expected to reflect the impact of additional restrictions on the economy that were implemented as virus cases surged -- GDP is seen falling 0.3% in May after the 0.3% drop in April.

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