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15.04.2019 22:51

BoC's Business Outlook Survey Indicator comes in at -0.6 percent in the first quarter of 2019, suggesting a softening in business sentiment

The Bank of Canada (BoC) reported on Monday its Business Outlook Survey indicator fell from a strongly positive level in the winter survey and is now slightly negative, suggesting a softening in business sentiment.

  • Firms’ expectations for sales remain positive but have softened as several businesses are less optimistic about demand
  • The main headwinds are a more uncertain outlook in the Western Canadian energy sector, continued weakness in housing-related activity in some regions, and tangible impacts from global trade tensions
  • Investment and employment intentions remain healthy outside the Prairies; plans to increase capital spending and add staff are most common among firms in the services sector facing sustained demand
  • The share of businesses reporting capacity pressures has declined to a low level, with some firms pointing to recent additions of capital and labor while others cite a moderation in demand; indicators of labor shortages have also moved down
  • Firms anticipate input and output price growth to stabilize, reflecting ongoing competition, rising commodity prices and fading pressure from tariff-related cost increases. 
  • Inflation expectations have declined but are still concentrated in the Bank of Canada’s 1 to 3 percent inflation-control range
  • Credit conditions eased marginally over the past three months


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Market focus

  • China: May industrial output up 5.0%, weakest in 17 years, retail sales rise 8.6% (16-year low)
  • France: consumer price index growth slowed to 0.1% in May
  • Germany: wholesale price growth slowed in May
  • Competitive currency devaluation could prompt global financial chaos - ex-PBOC chief
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Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
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Sydney 21:00 06:00 00:00 09:00 00:00 09:00
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Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
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Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
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European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
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London 07:00 16:00 10:00 19:00 10:00 19:00
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American New York 12:00 21:00 15:00 00:00 15:00 00:00
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Chicago 13:00 22:00 16:00 01:00 16:00 01:00