BOC: Gov Macklem Eyes Western Forest Fires Having Economic Impact
Jun-04 15:31
Dep Gov Rogers reiterates that the BOC hopes to publish a central forecast with July's MPR: "certainly it is our intention to get back to a central scenario.. It is our hope and our expectation that that by July, we'll be back there, but we'll need to wait and see."
- In response to a question by MNI about whether the removal of language in the decision statement that the BOC could "act decisively" if the economy clearly moved in one direction, Macklem says: "Each time we write these we have our deliberations, and then we write down what came out of those deliberations... I think, what is there this time that wasn't there last time was, we gave some indication of our our reaction function as we move forward. So, yes... we did repeat that... given the uncertainty remains high, we are continuing to proceed carefully. That means we're being less forward-looking."
- Macklem ends the press conference by noting the recent forest fires in Western Canada which he says "are having an economic impact", though it's too early to give you an estimate".
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US STOCKS: Midday Equities Roundup: Dow Leading Gainers for the Moment
May-05 15:30
- Stocks are trading mixed ahead Midday Monday, SPX eminis and Nasdaq weaker but off lows, while the DJIA is making modest gains. Currently, the DJIA trades up 26.44 points (0.06%) at 41345.01, S&P E-Minis down 22.75 points (-0.4%) at 5686.5, Nasdaq down 96.4 points (-0.5%) at 17881.92.
- Energy, Information Technology and Consumer Discretionary sectors underperformed in the first half, oil and gas shares weighing on the former as crude prices continued to fall (WTI -1.61 at 56.68): APA Corp -3.89%, Occidental Petroleum -3.50%, ConocoPhillips -3.11%, Exxon Mobil -2.71%.
- The tech sector weighed by ON Semiconductor -7.85%, First Solar -5.42% and Apple -3.17%. Meanwhile, Tesla -3.51%, Starbucks -2.60%, Amazon.com -1.18% and NIKE -1.14% weighed on the discretionary sector.
- On the positive side, Industrials and Real Estate sectors led gainers early Monday: Delta Air Lines +3.10%, United Airlines Holdings +2.25%, Uber Technologies +2.12% and Generac Holdings +2.08%.
- Investment trusts buoyed the Real Estate sector: Iron Mountain +1.33%, Digital Realty Trust +1.14% and Equinix +1.04%.
- Latest earnings after the close include: Neurocrine Biosciences, Ford Motor, Mattel Inc, Clorox, Diamondback Energy, Coterra Energy, Vertex Pharmaceuticals, Celanese, Williams Cos, Realty Income, Hims & Hers Health and Palantir Technologies .
OPTIONS: Larger FX Option Pipeline
May-05 15:29
- EUR/USD: May08 $1.1200(E2.5bln), $1.1250(E1.5bln), $1.1390-00(E3.0bln), $1.1410-20(E1.2bln); May09 $1.1300(E1.3bln)
- USD/JPY: May07 Y145.50-55($1.1bln), Y145.85-00($1.6bln); May08 Y143.00($1.4bln), Y145.00($1.3bln); May09 Y145.00($1.8bln)
- USD/CAD: May09 C$1.3750($1.2bln)
- USD/CNY: May08 Cny7.4500($1.5bln)
MNI EXCLUSIVE: MNI Interviews Ex-BOC Advider on Monetary Policy
May-05 15:28
- MNI interviews ex-BOC and Finance Dept. adviser on monetary policy, trade war -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
