6月，加元兑美元汇率升至1.35，为8个多月来的最高点，因为在以色列和伊朗持续的敌对行动中，美元普遍抛售，原油价格飙升。尽管国际社会呼吁缓和局势，但交易员在监测连续的导弹交换和霍尔木兹海峡供应中断的幽灵的同时，减少了风险头寸，导致美元下跌。油价上涨直接提振了加拿大的能源出口收入，为加元提供了坚实的支撑。投资者还关注七国集团峰会，以协调从中东和乌克兰到贸易摩擦等全球热点问题的行动，以及一周繁忙的央行决策。与此同时，加拿大央行的前景仍取决于数据。

The Canadian dollar strengthened toward 1.35 per USD in June, its strongest in over eight months, as a broad-based US dollar sell-off coincided with crude oil surging amid ongoing Israel-Iran hostilities. The US dollar dropped as traders dialed back risk-off positioning while monitoring successive missile exchanges and the specter of supply disruptions through the Strait of Hormuz despite international calls for de-escalation. Higher oil prices have directly boosted Canada’s energy export revenues, firmly underpinning the loonie. Investors are also focusing on the G7 summit for coordinated action on global flashpoints, from the Middle East and Ukraine to trade frictions, and a busy week of central-bank decisions. Meanwhile, the Bank of Canada’s outlook remains data-dependent.

2025年5月，加拿大的房屋开工量下降0.2%，至279510套，而4月为280181套，高于市场预期的248000套。人口在1万人以上的城市住房建设也稳定在259800套，而上个月为259916套。与此同时，农村住房开工量从3月份的18818套增加到19706套，增长了4.5%。每年，人口超过10000的中心的实际住房开工量增长了9%，2025年5月达到23745套，而2024年5月为21814套。在加拿大最大的三个城市中，温哥华的年下降率为10%，多伦多下降了22%，这两个城市都是由于多单元建筑开工量的减少。相比之下，蒙特利尔的增长率为11%，这得益于多单元建筑活动的增长。

Housing starts in Canada edged 0.2% down to 279,510 units in May 2025, compared to 280,181 units in April and above market expectations of 248,000 units. Urban housing construction in centers with populations of 10,000 or more also held steady at 259,800 units, versus 259,916 units in the previous month. Meanwhile, rural housing starts rose 4.5% to 19,706 units, up from 18,818 units in March. On a yearly basis, actual housing starts in centers with populations over 10,000 increased 9%, reaching 23,745 units in May 2025, compared to 21,814 units in May 2024. Among Canada’s three largest cities, Vancouver recorded a 10% annual decline, and Toronto a 22% drop, both driven by a reduction in multi-unit construction starts. In contrast, Montreal saw an 11% increase, supported by growth in multi-unit construction activity.

周一，标准普尔/多伦多证交所综合指数上涨约0.4%，收于26600点以上，投资者逐渐将注意力从对以色列-伊朗冲突可能引发更广泛经济冲击的担忧上转移，并重新关注本周的七国集团峰会和美联储即将作出的政策决定。虽然德黑兰和特拉维夫之间的空袭交流在周末继续进行，但预期的升级，无论是通过盟军干预还是破坏全球能源流动，都未能实现，从而支撑了风险偏好的适度复苏。投资者也在期待七国集团峰会对全球热点的潜在回应，包括中东和乌克兰危机，以及持续的贸易紧张局势。在国内，权重金融和科技股领涨，加拿大皇家银行、道明银行、布鲁克菲尔德银行、蒙特利尔银行和丰业银行各上涨0.9%至1.4%，Shopify飙升约2%，因为电子商务势头扩大了其表现。

The S&P/TSX Composite Index climbed around 0.4% to above the 26,600 mark on Monday, as investors gradually shifted their attention away from fears that the Israel–Iran conflict might precipitate a broader economic shock and refocused on this week’s G7 summit and the upcoming US Federal Reserve policy decision. While exchanges of airstrikes between Tehran and Tel Aviv continued over the weekend, the anticipated escalation, whether through allied intervention or disruption of global energy flows, failed to materialize, underpinning a modest recovery in risk appetite. Investors are also looking to the G7 summit for potential responses to global flashpoints, including the crises in the Middle East and Ukraine, as well as ongoing trade tensions. Domestically, heavyweight financials and tech names led the advance with RBC, TD Bank, Brookfield, BMO, and Scotiabank each gaining between 0.9% and 1.4%, and Shopify surged by approximately 2%, as e-commerce momentum extended its outperformance.

5月份加拿大住房开工数（同比）高于预测（248K）：实际（279.5K）。5月份加拿大住房开工数（同比）高于预测（248K）：实际（279.5K）

Canada Housing Starts s.a (YoY) above forecasts (248K) in May: Actual (279.5K).Canada Housing Starts s.a (YoY) above forecasts (248K) in May: Actual (279.5K)