By Ketki Saxena
Investing.com – Trading was largely flat last week, ending 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 Russian-Ukrainian conflict and accompanying sanctions, rising yields and a hawkish interest rate environment from the Fed and the Bank of Canada.
Investor sentiment was dominated by the release of the FOMC minutes from the March meeting, which outlined plans for more rapid and aggressive policy tightening this year. The BoC will also look to tighten policy and shrink its balance sheet this year, with money markets pricing the likelihood of a 50 basis point hike by the BoC in its next interest rate announcement and monetary policy report. this week Wednesday.
The week ahead
The week ahead will be short, with Canadian and US stock markets remaining closed on Good Friday to kick off the Easter long weekend.
The BoC’s rate hike announcement will be the big news for Canadian investors, although the BoC isn’t the only central bank to make a policy announcement this week. The European Central Bank will also release its interest rate decision on Monday.
The coming week will also see key economic data from China, including CPI, PPI and trade balance. Energy investors will also likely be watching the IEA’s monthly oil report on Wednesday.
TSX earnings, Canadian and US economic calendar
No major Canadian earnings or economic data; No major US data
tuesday april 12
Wednesday April 13
TSX Earnings: Shaw Communications, Cogeco (TSX:)
In Canadian Econ: Bank of Canada interest rate decision and monetary policy report
International: IEA Monthly Petroleum Report
Thursday April 14
TSX Earnings: Goodfood Market
In Canada Econ: manufacturing sales, wholesale trade
In the United States: retail sales, initial claims for unemployment insurance, University of Michigan consumer sentiment index
friday april 15