By Ketki Saxena
Investing.com – The S&P/TSX Composite Index was largely flat in last week’s trading, closing the week at 21,913.97 points, up 0.1% for the week. Canadian equities remained volatile and continued to be driven by uncertainties such as the Russia-Ukraine conflict and accompanying sanctions, rising yields, and a hawkish interest rate environment from both the Fed and the BoC.
Investor sentiment was dominated by the release of FOMC minutes from the March meeting, which outlined plans for speedier and aggressive policy tightening this year. The BoC will also seek to tighten policy and shrink its balance sheet this year, with money markets pricing in the likelihood of a 50 basis point hike by the BoC at its upcoming Interest Rate Announcement and Monetary Policy Report this week on Wednesday.
The Week Ahead
The week ahead will be a short one, with Canadian and U.S. equity markets remaining closed on Good Friday to kick off the Easter long weekend.
The BoC’s rate hike announcement will be the major story for Canadian investors, although the BoC will not be the only central bank to make a policy announcement this week. The European Central Bank will also be releasing its interest rate decision on Monday.
The week ahead will also see major economic data from China, including CPI, PPI, and trade balance. Energy investors will likely also be watching for the IEA’s monthly oil report on Wednesday.
TSX Earnings, Canada and U.S. Economic Calendar
Monday
No Major Canadian Earnings or Economic Data; No Major U.S. Data
Tuesday, April 12
-
TSX Earnings: Organigram
-
No Major Canadian Economic Data
-
In the U.S: CPI
Wednesday, April 13
-
TSX Earnings: Shaw Communications, Cogeco (TSX:CGO)
-
In Canadian Econ: Bank of Canada interest rate decision and monetary policy report
-
International: IEA monthly oil report
Thursday, April 14
-
TSX Earnings: Goodfood Market
-
In Canadian Econ: manufacturing sales, wholesale trade
-
In the U.S: retail sales, initial jobless claims, University of Michigan consumer sentiment index
Friday, April 15
-
TSX and U.S. stock markets closed for Good Friday