美元/加元 (USDCAD) 加自选

前瞻性指引：加拿大工业数据显示贸易敏感行业趋于稳定。自春季以来，制造业首当其冲地受到美国关税的负面影响。第二季度产量年化收缩9%。

Forward Guidance: Canada's Industry Data to Show Stabilization in Trade Exposed Sectors.Manufacturing has borne the brunt of the negative fallout from U.S. tariffs since spring. Production contracted an annualized 9% in Q2.

周五，标准普尔/多伦多证交所综合指数抹去跌幅，收于29912点，上涨0.5%，投资者评估了企业盈利和强劲的劳动力数据。国内失业率意外降至6.9%，而就业人数激增，工资增长增加，这进一步表明中国央行的宽松周期不太可能继续下去。大宗商品巨头领涨，黄金和油价本周收高，加拿大自然、巴里克黄金、惠顿和TC能源上涨4%至2%。与此同时，Enbridge收盘上涨1%，尽管其每股收益为0.46加元，低于0.54加元的预期。此外，Shopify下跌2.4%，因市场继续向押注人工智能的公司施压，要求其高估估值。

The S&P/TSX Composite erased losses to close 0.5% higher at 29,912 on Friday as investors assessed corporate earnings and strong labor data. The domestic unemployment rate unexpectedly dropped to 6.9%, while employment surged and wage growth increased, reinforcing signs that the BoC’s easing cycle is unlikely to continue. Commodity giants led the gains as gold and oil prices ended the week higher, with Canadian Natural, Barrick Gold, Wheaton, and TC Energy advancing between 4% and 2%. Meanwhile, Enbridge closed 1% higher despite reporting an EPS of C$0.46, below forecasts of C$0.54. Also, Shopify fell 2.4% as markets continued to pressure companies with bets on AI for exaggerated valuations.

美国股市从早盘下跌反弹，周五收盘大多走高，因为人们希望国会议员在结束政府停摆方面取得进展。标准普尔500指数和道琼斯指数收盘上涨0.3%，而科技股为主的纳斯达克指数收盘接近持平，因为人工智能巨头仍面临压力。参议院共和党人拒绝了民主党人提出的降低政府关门要求的提议，但在收盘铃响之前，对即将达成协议的挥之不去的希望改善了风险情绪。密歇根大学调查显示，消费者信心不断恶化，这证明了运营和政府数据的暂停，该调查在11月的记录中排名第二。消费者防御和能源公司领涨，埃克森美孚、T-Mobile和可口可乐上涨超过2%。反过来，对人工智能公司估值过高的担忧继续给科技行业带来压力，特斯拉下跌4%，Meta和甲骨文下跌2%。

US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq closed near the flatline as AI giants remained under pressure. Senate Republicans rejected Democrats' offer to scale down shutdown demands, but lingering hopes of an incoming agreement improved risk sentiment before the closing bell. The suspension of operations and government data were evidenced by the deteriorating consumer confidence measured by the University of Michigan survey, which came out at the second-worst reading on record in November. Consumer defensive and energy companies led the gains, with Exxon Mobil, T-Mobile, and Coca-Cola adding more than 2%. In turn, concerns that valuations for AI companies have been stretched too far continued to pressure the tech sector, with Tesla dropping 4% while Meta and Oracle fell 2%.

2025年9月，美国消费信贷总额增长了130.9亿美元，此前8月份上调了31.3亿美元，高于市场预期的100亿美元增长。这相当于每年增长3.1%。循环信贷在8月份下降60.7亿美元后，以每年2%的速度增长，即16.5亿美元。包括汽车和学生贷款在内的非循环信贷增长了2.9%，达到114.4亿美元，而前一个月增长了92亿美元。

Total US consumer credit rose by $13.09 billion in September 2025, following an upwardly revised $3.13 billion gain in August and above market expectations of a $10 billion increase. It is equivalent to an increase of 3.1% at an annual rate. Revolving credit increased at an annual rate of 2% or $1.65 billion, following a $6.07 billion decline in August. Nonrevolving credit which includes auto and student loans went up 2.9% or $11.44 billion, following a $9.2 billion gain in the previous month.