The impacts of the disappointing U.S. job report continue to make themselves felt within financial markets. Encouraged by speculation regarding the prolonged inaction from the U.S. Federal Reserve, North-American stock markets had a banner day yesterday, with the S&P 500 and the S&PTSX Composite Index rose by 1.8% and 1.6% respectively. However, even when considering the latest job report, it remains difficult to exclude a key rate hike before the end of 2015, as job creation in the United States has surpassed the 200,000 mark in 14 of the last 20 months, and full-time positions remain at an all-time high.
Yesterday Canada and its partners announced that they had reached an agreement in principle for the Trans-Pacific-Partnership, a free-trade agreement regrouping 12 American and Asian countries. For Canada this agreement opens up the borders of Japan, a market with more than 127 million inhabitants.
In economic news, today we will be monitoring Canadian and U.S. trade balance figures, which will allow us to analyze the import and export dynamics at play for both countries.
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