Economic Highlights:
GDP Growth: Canada’s real GDP increased by 0.4% in January, with significant contributions from the mining, quarrying, and oil and gas extraction sectors, which grew by 1.8%.
Employment: The economy added 76,000 jobs, reducing the unemployment rate to 6.6%.
Inflation: The Consumer Price Index (CPI) remained stable, indicating controlled inflation levels.Statistics CanadaReuters
Market Movements:
TSX Performance: The S&P/TSX Composite Index showed modest gains, driven by strength in the energy and financial sectors.
Currency: The Canadian dollar appreciated slightly against the U.S. dollar, reflecting positive economic sentiment.
Strategic Insights:
Investors should consider exposure to the energy sector, given its robust performance.
The stable inflation environment supports fixed-income investments, particularly in government bonds.
