Weekly Market Update – For the Week Ended January 19, 2025
1) Prime Minister Trudeau to Step Down
After nine years as Prime Minister, Justin Trudeau announced his resignation. This shift in leadership comes amid political changes and economic uncertainty, including potential U.S. tariffs. Canada’s trade deficit narrowed in November, with exports and imports reaching multi-month highs.
2) Canada’s Labour Market Gains Strength
Canada added 90,900 jobs in December, the highest increase in nearly two years, bringing the unemployment rate down to 6.7%. Strong labour market performance signals resilience, even as other economic sectors face challenges.
3) Global Market Highlights
– Canadian markets dipped last week, led by declines in the Health Care sector.
– U.S. job growth exceeded expectations, but rate cuts are likely delayed until later in 2025.
– Inflation rose in Europe, while deflation concerns grow in China, highlighting global uncertainty.
RRSP Season: Plan Ahead
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