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Another mixed day, markets taking a breather

By Dragon Tehrani | Sep 11, 2020

Stock markets are trying to achieve a solid rebound for weekend, a higher close would leave investors with a positive attitude and provide next week with a solid base. Today’s U.S. CPI was higher than expected driven by (pun intended) higher costs for used cars and trucks, consumers have a pent-up demand for larger purchases due to the lockdowns and the pandemic.

The Canadian dollar is slightly stronger to the USD, again following equities and oil prices which are generally unchanged as well.

Of note that due to the lockdowns in Canada and workers staying at home, Canadian household debt dropped in the first six months from 175.4% of disposable income to 158.2% of disposable income. StatsCan said that although the amount dropped it was a result of disposable income increasing not less spending, the increase in disposable income was due primarily to the Canadian government’s pandemic income transfers. However, once these transfers runout, a lot of households will have trouble with their daily expenditures and the debt ratio may climb beyond the old rate of 175.4%.

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