加元/新加坡元 (CADSGD) 加自选

周二，标准普尔/多伦多证交所综合指数飙升2%，收于27570点，创下历史新高，受大宗商品价格上涨和美国9月降息预期增加的推动，资源和工业股普遍上涨。黄金生产商领涨，Agnico Eagle、Wheaton Precious、Barrick Mining和Franco-Nevada飙升5.4%至7.3%，因避险需求和美国收益率下降导致金价攀升。与此同时，上周美国就业人数大幅下降，仅为73000人，这提振了对美联储宽松政策的押注，提振了Shopify等对利率敏感的科技公司，其股价飙升了7.1%。在国内，加拿大6月份的贸易逆差略微扩大至59亿加元，与预测大致一致，因为稳定的能源和食品出口帮助抵消了汽车和金属运输的持续疲软。

The S&P/TSX Composite surged 2% to close at a fresh record of 27,570 on Tuesday, lifted by broad-based gains in resource and industrial shares amid rising commodity prices and mounting expectations of a US rate cut in September. Gold producers led the rally, with Agnico Eagle, Wheaton Precious, Barrick Mining, and Franco-Nevada soaring between 5.4% and 7.3%, as bullion prices climbed on safe-haven demand and lower US yields. Meanwhile, last week’s sharply weaker US payrolls print of just 73,000 bolstered bets on Fed easing, boosting rate-sensitive tech names like Shopify, which rocketed 7.1%. Domestically, Canada’s trade deficit widened slightly to C$5.9 billion in June, roughly in line with forecasts, as solid energy and food exports helped offset ongoing softness in auto and metal shipments.

加拿大卡尼：加拿大将为软木木材提供高达7亿美元的贷款担保。与加拿大的谈判仍在进行中，但加拿大似乎正在寻求使其出口业务多样化，作为在没有美国需求的情况下到期的一种方式。

Canada's Carney: Canada will provide up to 700M in loan guarantees to softwood lumber.Negotiations with Canada are still ongoing but it seems that Canada is looking to diversify its export business as a way to due without US demand.

加拿大10年期政府债券收益率徘徊在3.39%附近，延续了其从7月15日达到的3.611%的一年高点回落的趋势，此前美国数据疲软，贸易战担忧加剧，导致美国国债收益率跌至三个月低点，全球债券反弹势头增强。在国内，接近3%的企业核心通胀和强劲的就业使加拿大7月初的收益率保持在较高水平，但6月整体通胀率降至1.9%，劳动力市场稳定的迹象降低了人们对进一步紧缩的预期。7月30日，加拿大央行将其政策利率维持在2.75%不变，这表明其采取观望态度，同时承认经济增长放缓和通胀稳定可能证明未来降息是合理的。随着对全球经济衰退的担忧加剧，以及中国银行政策被视为倾向于宽松，债券市场对更温和的前景进行了定价，导致加拿大收益率下降。

The yield on the Canadian 10-year government bond hovered near 3.39%, extending its retreat from the one-year high of 3.611% reached on July 15th, as a global bond rally gained momentum following weak US data and escalating trade-war concerns that dragged US Treasury yields to three-month lows. Domestically, firm core inflation near 3% and strong hiring had kept Canadian yields elevated earlier in July, but softer June headline inflation at 1.9% and signs of labor market stabilization have since tempered expectations for further tightening. On July 30th, the Bank of Canada left its policy rate unchanged at 2.75%, signaling a wait-and-see approach, while acknowledging that weaker growth and anchored inflation could justify future rate cuts. With global recession concerns intensifying and BoC policy seen as tilted toward easing, bond markets have priced in a more dovish outlook, pressuring Canadian yields lower.

周二，标准普尔/多伦多证交所综合指数飙升近2%，至27500点以上，因为投资者从公民假期回来，接受9月份美联储降息和大宗商品价格上涨的可能性越来越大。上周，美国就业人数大幅下降，仅为73000人，这促使美联储将预期下调至近94%，推动对利率敏感的科技股上涨，Shopify飙升超过5%。随着金价攀升，矿业股也上涨，Agnico Eagle、Wheaton Precious Metals和Barrick gold各上涨4%以上。在宏观方面，加拿大6月份的贸易逆差小幅扩大至59亿加元，大致符合预期，反映了能源和食品出口的增长，尽管汽车和金属持续疲软。

The S&P/TSX Composite surged nearly 2% to above the 27,500 on Tuesday, as investors returned from the Civic Holiday to embrace rising odds of a September US Fed rate cut and rising commodity prices. A sharply lower US payrolls figure of just 73,000 last week pushed Fed-cut expectations to nearly 94%, fueling gains in rate-sensitive tech, with Shopify soaring over 5%. Miners also rallied as gold prices climbed, lifting Agnico Eagle, Wheaton Precious Metals, and Barrick Gold more than 4% each. On the macro front, Canada’s trade deficit widened modestly to C$5.9 billion in June, roughly in line with expectations and reflecting gains in energy and food exports despite ongoing weakness in autos and metals.