The US is expected to implement retaliatory tariffs on Wednesday and automobile tariffs on Thursday. Details will be provided this week, as changes remain a possibility. As tariffs persist, attention will be on how they are impacting global economic activity and financial markets. There will also be plenty of other economic announcements for investors to monitor this week. Here’s what to watch for.
- Canada’s manufacturing activity in March will be released tomorrow. While Canada’s manufacturing activity has picked up in recent months, widespread tariffs could hurt Canada’s manufacturing sector.
- Statistics Canada will announce Canada’s unemployment rate on Friday. Canada’s economy added just 1,100 jobs in February. Its jobless rate finished the month at 6.6%. This is another area of Canada’s economy that could be impacted by tariffs.
- The US will make several labour market announcements this week. On Wednesday, ADP will report on private businesses’ hiring, initial jobless claims will be announced on Thursday and on Friday, the US unemployment rate will be announced.
- Global reports to monitor are Germany’s retail sales, which will be announced today, China’s manufacturing activity tonight, the European inflation rate on Tuesday, Japan’s business activity on Wednesday and European producer prices on Thursday.
- Notable earnings in Canada include Novagold Resources, Softchoice, BlackBerry and Dollarama.
Nervousness will likely continue to grip financial markets this week. There is widespread concern that increasing trade tensions will weaken global economic activity. Canada’s Prime Minister Mark Carney talked with US President Donald Trump last week, agreeing to enter serious negotiations after the election. Meanwhile, the European Union is planning concessions to have tariffs removed. While extensive tariffs are expected this week, the extent of those tariffs and which economies will be hit with them could change.
If you would like to discuss this economic and market update or have questions about your finances and investments, please feel free to contact me anytime.
