标准普尔/多伦多证交所综合指数周三下跌约0.2%，跌破25600点大关，在全球贸易紧张局势缓解和美国通胀数据低于预期的强劲反弹后回落，投资者等待贸易协定取得进一步进展。截至周二，加拿大股市已连续六个交易日攀升，受美国通胀降温迹象和全球贸易动态改善前景的提振。然而，随着主要矿商拖累指数下跌，势头减弱，Agnico Eagle、Wheaton Precious Metals、Barrick Gold和Franco-Nevada下跌1.6%至2.5%，与此同时金价持续下跌。能源股也因石油基准下跌而下跌。相比之下，Shopify表现突出，上涨约3%，为更广泛的市场提供了一些支持。

The S&P/TSX Composite Index fell about 0.2% to dip below the 25,600 mark on Wednesday, pulling back after a strong rally driven by easing global trade tensions and softer-than-expected US inflation data, as investors awaited further progress on trade agreements. Canadian equities had climbed for six consecutive sessions through Tuesday, buoyed by signs of cooling US inflation and the prospect of improved global trade dynamics. However, the momentum faded as major miners dragged the index lower, with Agnico Eagle, Wheaton Precious Metals, Barrick Gold, and Franco-Nevada shedding between 1.6% and 2.5%, in tandem with a continued slide in bullion prices. Energy shares also declined amid falling oil benchmarks. In contrast, Shopify stood out on the upside, gaining around 3% and offering some support to the broader market.

加拿大建筑许可证总价值在上个月增长2.9%后，于2025年3月下降4.1%，至129亿加元，低于0.5%的下降预测。非住宅建筑许可证下降14.5%，至42亿加元，标志着复苏后的下降，其中商业（-4.741亿加元；-19.0%）、工业（-370万加元；-0.5%）和机构（-2.385亿加元；-14.4%）分部门下降最为明显。另一方面，住宅许可证在上个月下降至84亿加元后，增长了2.0%，达到87亿加元，这是由于多户许可证的增加（3.225亿加元，5.8%），部分被单户部分的下降（-1.556亿加元，-5.3%）所抵消。九个省份的许可证数量下降，其中努纳武特省下降了79.9%，而纽芬兰和拉布拉多省的增长最为显著（+89.4%）。

The total value of building permits in Canada fell 4.1% from the previous month to CAD 12.9 billion in March 2025, following growth of 2.9% in the previous month and below forecasts of a 0.5% fall. Non-residential building permits fell by 14.5% to CAD 4.2 billion, marking a drop after a recovery, led by declines in the commercial (-CAD 474.1 million; -19.0%), industrial (-CAD 3.7 million; -0.5%) and institutional (-CAD 238.5 million; -14.4%) subsectors. On the other hand, residential permits rose 2.0% to CAD 8.7 billion, after reaching CAD 8.4 billion in a drop the previous month, driven by an increase in multifamily permits (CAD 322.5 million, 5.8%), partially offset by a drop in the single-family component (- CAD 155.6 million, -5.3%). Permits fell in nine provinces, led by Nunavut (-79.9%), while Newfoundland and Labrador (+89.4%) recorded the most significant growth.

3月份加拿大建筑许可证（MoM）低于预期（-0.5%）：实际（-4.1%）。3月份加拿大建筑许可证（MoM）低于预期（-0.5%）：实际（-4.1%）

Canada Building Permits (MoM) below expectations (-0.5%) in March: Actual (-4.1%).Canada Building Permits (MoM) below expectations (-0.5%) in March: Actual (-4.1%)

周二加元小幅反弹。周二，加元（CAD）的出价温和，这主要归功于整个市场对美元（USD）的普遍宽松，而不是对加元的任何特别看涨。美国消费者价格指数（CPI）数据是当天的关键数据，随着特朗普政府的关税开始出现在数据中，投资者开始越来越担心下一份数据将如何形成。

Canadian Dollar bounces back slightly on Tuesday.The Canadian Dollar (CAD) caught a mild bid on Tuesday, largely thanks to a general easing in US Dollar (USD) bidding across the broader market rather than any particular bullishness to be found on the book for the Loonie. US Consumer Price Index (CPI) numbers were the key data print for the day, and investors are beginning to grow increasingly anxious about how the next print will shape up as the Trump administration's tariffs begin to show up in the data.