加拿大6个月期国债 (Canada6M) 加自选

标准普尔/多伦多证交所综合指数周一下跌约0.1%，至26680点以下，尽管加拿大在最后一刻废除了数字服务税，旨在恢复与华盛顿的贸易谈判，并在7月9日的最后期限之前避免新的美国关税，但能源板块的跌幅超过了其他板块的涨幅。能源股仍面临压力，有迹象表明欧佩克+将在8月继续其计划中的增产，这给油价和主要能源生产国带来了压力。与此同时，出口敏感行业略有缓解，电信和科技股领涨，这将直接受到现已取消的3%数字收入税的影响。在宏观经济方面，市场消化了5月份的初步GDP估计，该估计指出每月将再收缩0.1%，突显出加拿大经济在渥太华争取在7月21日前敲定新协议的同时，仍容易受到外部贸易中断的影响。

The S&P/TSX Composite Index slipped about 0.1% to below the 26,680 mark on Monday, as losses in the energy sector outweighed gains elsewhere, despite Canada’s last-minute repeal of its digital services tax aimed at reviving trade talks with Washington and averting fresh US tariffs ahead of the July 9th deadline. Energy stocks remained under pressure amid signs that OPEC+ will proceed with its planned output increase in August, weighing on oil prices and major energy producers. Meanwhile, export-sensitive sectors saw modest relief, with gains led by telecom and technology shares that would have been directly affected by the now-scrapped 3% levy on digital revenues. On the macroeconomic front, markets digested May’s preliminary GDP estimate, which pointed to another 0.1% monthly contraction, highlighting the Canadian economy’s ongoing vulnerability to external trade disruptions even as Ottawa races to finalize a new agreement by July 21st.

加拿大恢复数字税以挽救美国贸易谈判；鲁尼温和康复。

Canada Reverses Digital Tax to Save U.S. Trade Talks; Loonie Recovers Modestly.

加拿大将取消其计划中的数字服务税（DST），该税将从2022年起追溯适用，以恢复与美国的贸易谈判。此举是在特朗普总统周五取消谈判后采取的，称DST是“对我们国家的直接和公然攻击”。渥太华在周日的一份声明中表示，这一逆转旨在“支持这些谈判”，财政部长弗朗索瓦·菲利普·香槟表示希望达成“互利的全面贸易安排”。卡尼总理和特朗普总统同意恢复谈判，目标是在2025年7月21日前达成协议。特朗普长期以来一直批评DST是损害美国公司的“非关税贸易壁垒”。加拿大的逆转被视为特朗普的政治胜利，特朗普指责盟友“剥削”美国，自1月上任以来，他威胁要对所有加拿大出口产品征收25%的关税，加剧了亲密贸易伙伴之间的紧张关系。

Canada will scrap its planned Digital Services Tax (DST), which was set to apply retroactively from 2022, to revive trade talks with the U.S. The move came after President Trump canceled negotiations on Friday, calling the DST “a direct and blatant attack on our Country.” In a Sunday statement, Ottawa said the reversal aims to “support those negotiations,” with Finance Minister François-Philippe Champagne expressing hopes for a “mutually beneficial comprehensive trade arrangement.” Prime Minister Carney and President Trump agreed to resume talks, targeting a deal by July 21, 2025. Trump has long criticized DSTs as “non-tariff trade barriers” that harm U.S. firms. Canada’s reversal is seen as a political win for Trump, who has accused allies of “ripping off” the U.S. and, since returning to office in January, has threatened a 25% tariff on all Canadian exports, deepening tensions between the close trade partners.

周日晚些时候，加拿大财政部宣布取消数字服务税，以推进与美国陷入僵局的贸易谈判，加元兑美元汇率稳定在1.367左右。此前，美国总统唐纳德·特朗普周五突然取消了针对美国科技公司的税收谈判。两国领导人将恢复谈判，在7月21日前达成协议。尽管出现了这一积极发展，但加元的上行空间仍然有限。中东紧张局势的缓解推低了油价，剥夺了该地区贸易条件支持的关键支柱。令人失望的经济数据进一步打压了市场情绪。加拿大4月份的国内生产总值收缩了0.1%，初步估计5月份也出现了类似的下降。由于关税的不确定性继续抑制经济活动，这使经济有望在第二季度适度收缩。

The Canadian dollar stabilized around 1.367 per USD after Canadian Finance Ministry announced late on Sunday that it is rescinding a digital-services tax in a bid to advance stalled trade negotiations with the US. The move comes after US President Donald Trump abruptly called off talks on Friday over the tax targeting American tech firms. The leaders from both countries will resume negotiations to agree on a deal by July 21. Despite this positive development, the Canadian dollar’s upside remains limited. Easing Middle East tensions have pushed oil prices lower, stripping the loonie of a key terms-of-trade support pillar. Sentiment was further weighed down by disappointing economic data. Canada’s GDP contracted by 0.1% in April, with preliminary estimates pointing to a similar decline in May. This puts the economy on track for a modest contraction in the second quarter, as activity continues to be dampened by tariff uncertainty.