纽币/加元 (NZDCAD) 加自选

标准普尔/多伦多证交所综合指数周五微涨0.1%，收于29761点，但本周收跌，结束了七周的连胜，因为投资者权衡了国内生产总值、美国通胀和新的贸易措施。加拿大统计局的预估显示，8月份实际国内生产总值基本保持不变，批发和零售业的增长抵消了采矿、制造业和运输业的疲软，缓解了长期收益率受到压力的增长恐慌。美国个人消费支出报告显示，通胀总体稳定，核心指标保持稳定，整体数据略有上升，这增强了人们对美联储今年晚些时候降息的预期，并支持了风险偏好。在特朗普总统宣布对品牌药品、重型卡车和橱柜征收关税并于下周生效后，贸易新闻成为逆风，周四加拿大邮政的全国罢工增加了零售商和分销商的物流风险。金融、能源和矿业板块领涨，科技板块落后。

The S&P/TSX Composite edged up 0.1% to close at 29,761 on Friday yet finished the week lower and ended a seven-week win streak as investors weighed domestic GDP, US inflation and fresh trade measures. Statistics Canada’s advance estimate showed real GDP essentially unchanged in August with wholesale and retail gains offsetting weakness in mining, manufacturing and transportation, easing the growth scare that had pressured long yields. The US PCE report showed broadly stable inflation with core steady and a modest uptick in headline readings, reinforcing expectations for Fed rate cuts later this year and supporting risk appetite. Trade news acted as a headwind after President Trump announced tariffs on branded drugs, heavy trucks and kitchen cabinets that take effect next week, and a nationwide Canada Post strike on Thursday added logistics risk for retailers and distributors. Most major sectors traded higher led by financials, energy and miners while technology lagged.

加拿大政府在2025年7月公布了15亿加元的预算赤字，而2024年7月的赤字为44亿加元。这一转变主要反映了收入增加了22亿加元（5.3%），主要是由于企业所得税的提高，而污染定价收益减少了9亿加元。不包括净精算损失的计划费用下降了4亿加元（1.0%），反映了加拿大个人碳回扣的逐步减少，这主要被更高的直接计划费用所抵消。公共债务费用下降了3.5亿加元（0.7%），因为国库券利率的降低在很大程度上抵消了可销售债券存量增加的平均有效利率的提高；2025-26年4月至7月期间，联邦预算赤字为78亿加元，而2024-25年同期为73亿加元。

Canada’s government posted a budget deficit of CAD 1.5 billion in July 2025, compared with a deficit of CAD 4.4 billion in July 2024. This shift largely reflected a CAD 2.2 billion (5.3%) increase in revenues, largely driven by higher corporate income tax, while pollution pricing proceeds fell by CAD 0.9 billion. Program expenses, excluding net actuarial losses, fell by CAD 0.4 billion (1.0%), reflecting the wind-down of the Canada Carbon Rebate for individuals that was mostly offset by higher direct program expenses. Public debt charges fell by CAD 0.035 billion (0.7%) as lower interest rates on treasury bills largely offset higher average effective rates on an increased stock of marketable bonds; for the April–July 2025–26 period, the federal budget deficit stood at CAD 7.8 billion, compared to CAD 7.3 billion in the same period of 2024–25.

周五，标准普尔/多伦多证交所综合指数上涨约0.2%，收于29800点以上，因投资者分析了GDP数据、美国价格和新的贸易措施，本周的跌幅有所收窄。加拿大统计局的预估显示，8月份实际GDP基本保持不变，批发和零售业的增长抵消了采矿、制造业和运输业的疲软，缓解了长期收益率面临压力的增长恐慌。与此同时，最新的美国个人消费支出报告记录了大致稳定的通胀，核心个人消费支出保持稳定，整体通胀略有上升，这增强了人们对美联储今年晚些时候有降息空间并支持冒险的预期。在贸易方面，美国总统特朗普宣布对品牌药品、重型卡车和橱柜征收新一轮关税。在企业新闻方面，加拿大邮政周四举行的全国性罢工使物流复杂化，并可能对零售和分销公司造成压力。科技、金融、能源和矿业板块领涨。

The S&P/TSX Composite rose about 0.2% to above 29,800 on Friday, paring the week’s losses as investors parsed GDP data, US prices and fresh trade measures. Statistics Canada’s advance estimate showed real GDP essentially unchanged in August with wholesale and retail gains offsetting weakness in mining, manufacturing and transportation which eased the growth scare that had pressured long yields. Meanwhile, the latest US PCE report recorded broadly stable inflation with core PCE steady and a modest uptick in headline inflation which reinforced expectations that the Fed has scope to cut rates later this year and supported risk taking. On the trade front, US President Trump announced a fresh set of tariffs on branded drugs, heavy-duty trucks and kitchen cabinets. In corporate news, a nationwide Canada Post strike on Thursday complicated logistics and could weigh on retail and distribution firms. Most major sectors traded higher led by technology, financials, energy and miners.

加拿大经济7月反弹。加拿大7月份GDP增长0.2%，部分扭转了连续三个月的收缩。印刷品比普遍预期更热。

Canada's Economy Rebounds in July.Canadian GDP rose by 0.2% m/m in July, partly reversing three consecutive monthly contractions. The print was a tick hotter than consensus expectations.