Canada: Focus on employment and trade data – TDS

Analysts at TD Securities suggest that Canada’s June employment and international trade for May will give the last read on economic conditions ahead of the July BoC.

Key Quotes

“We look for a below-consensus 10k print on employment (market: 20k) though positive details, including a rebound in full-time employment and wage growth near 4% y/y, should provide a more upbeat takeaway for markets.”

“For trade, we expect the deficit to widen to $2.6bn from $1.9bn in April on stronger import activity (market: $2.2bn).”