1. JOLTS Report: A Quiet Alarm Bell?
We get the U.S. JOLTS report today, which will provide more color on what’s happening in the U.S. jobs market.
We already know there have been big job cuts, and the private/unofficial numbers continue to point to fewer jobs being created.
Keep in mind: Tomorrow is the Fed’s rate announcement + updated projections.
Market expectations right now: a 25-basis-point rate cut.
2. Bank of Canada: Hold or Surprise?
The Bank of Canada delivers its rate announcement tomorrow morning.
Expectations are that the BoC will hold.
Bond yields bounced after Friday’s action, and there’s now noise about a possible rate hike being BoC’s next move.
Keep in mind: The BoC is laser-focused on inflation. Listen to press conference for more colour.
3. S&P 500: Calm Before the Fed Storm
Since late October, the S&P 500 hasn’t moved much.
We saw a little selling, but it recovered quickly. The 50-day moving average remains a strong support level.
Earnings estimates haven’t changed. Sentiment is still rosy. Nothing appears “broken.” So… should investors worry?
Tomorrow will get interesting after the Fed announcement.
Reminder: The day before Fed day typically has no big moves. The initial post-announcement move is usually wrong. The real trend shows up after.
4. Silver & Gold: Coiled and Ready?
Silver has been consolidating for a few days. $59.32 is a major level to watch.
Gold remains choppy, with $4,245–$4,265 being the big zone.
After tomorrow’s rate announcement, expect movement in both metals.
Watching this very closely.
5. Bitcoin, Yields & FX: Quiet but Telling
Bitcoin is stuck — feels like it doesn’t have enough juice right now.
The Dollar Index is sliding slightly.
The U.S. 10-year yield is waking up but still stuck around 4%.
The Canadian dollar is breaking out of its downtrend against the USD.