周二，标准普尔/多伦多证交所综合指数微跌0.1%，收于25120点，连续四个交易日下跌，大宗商品生产商的下跌在新的通胀数据下给市场带来压力。能源权重股森科尔、帝国石油、加拿大天然气和Cenovus领跌，因油价继续回落，下跌0.3%至0.6%。同样，在金价下跌后，与黄金挂钩的股票Agnico Eagle和Barrick Gold分别下跌0.3%和0.7%。在经济方面，持续的通胀压力抑制了降息的希望，削减后的平均核心利率稳定在2.7%，超过了预期的2.5%。加剧投资者不安的是，财政部长克里斯蒂娅·弗里兰在秋季经济更新之前突然辞职，加剧了人们对财政稳定、预算赤字扩大以及加拿大在特朗普政府领导下应对潜在25%关税的能力的担忧。

The S&P/TSX Composite Index edged 0.1% lower to close at 25,120 on Tuesday, extending its losing streak to four sessions, as declines in commodity producers weighed on the market amid fresh inflation data. Energy heavyweights Suncor, Imperial Oil, Canadian Natural, and Cenovus led losses, falling between 0.3% and 0.6% as oil prices continued to retreat. Similarly, bullion-linked stocks Agnico Eagle and Barrick Gold dropped 0.3% and 0.7%, respectively, following a decline in gold prices. On the economic front, persistent inflationary pressures dampened hopes for rate cuts, with the trimmed-mean core rate steady at 2.7%, surpassing the expected 2.5%. Adding to investor unease, Finance Minister Chrystia Freeland's abrupt resignation ahead of the fall economic update heightened concerns about fiscal stability, a widening budget deficit, and Canada’s ability to respond to potential 25% tariffs under a Trump administration.

加拿大CPI通胀进一步降温，加元暴跌。周二，加元（CAD）跌至多年新低，兑美元下跌0.4%，将美元/加元推至近五年来的最高点，自2020年3月以来首次突破1.4300。年化加拿大消费者价格指数（CPI）通胀数据令市场失望，为加拿大价格增长提供了一幅混乱的图景。

Canadian Dollar slumps as Canadian CPI inflation cools further.The Canadian Dollar (CAD) plunged to a fresh multi-year low on Tuesday, falling four-tenths of a percent against the Greenback and pushing USD/CAD to its highest bids in nearly five years, sending the pair above 1.4300 for the first time since March of 2020. Annualized Canadian Consumer Price Index (CPI) inflation figures disappointed markets, delivering a muddle picture of Canadian price growth on both sides of the equation.

12月，加拿大10年期政府债券收益率稳定在3.18%，接近月度高点，因为通胀数据限制了加拿大央行继续降息周期的能力。11月下调后的平均核心利率为2.7%，高于预期的2.5%，限制了进一步降息的空间，阻碍了经济增长，加深了经济面临的挑战。此前，加拿大政府发布了联邦经济声明，将2025年GDP增长预测从1.9%下调至1.7%，将2026年预测从2.2%下调至2.1%。在失业率上升和经济增长缓慢的情况下，中国央行将利率下调50个基点至3.25%，突显出该国在经济增长缓慢和通货膨胀方面的困境。此外，财政部长克里斯蒂娅·弗里兰因在处理美国潜在关税问题上存在分歧而辞职，这加剧了不确定性，因为她在塑造加拿大的贸易反应和确保财政稳定方面发挥了关键作用。

Canada’s 10-year government bond yield stabilized at 3.18% in December, remaining near monthly highs, as inflation data limited the Bank of Canada’s capacity to continue its rate-cutting cycle. The trimmed-mean core rate, coming in at 2.7% in November, higher than the anticipated 2.5%, restricts the scope for further rate reductions, hindering economic growth and deepening the challenges facing the economy. This follows the Canadian government's federal economic statement, which revised its 2025 GDP growth forecast down to 1.7% from 1.9%, and 2026 projections to 2.1% from 2.2%. The BoC’s 50bps rate cut to 3.25%, amidst rising unemployment and sluggish growth, highlights the country’s economic struggles with slow growth and sticky inflation. Moreover, Finance Minister Chrystia Freeland’s resignation, stemming from disagreements over the handling of potential US tariffs, has heightened uncertainty, as she had been pivotal in shaping Canada’s trade response and ensuring fiscal stability.

标准普尔/多伦多证交所综合指数周二下跌0.4%，至25147点以下，这是连续第四个交易日下跌，受大宗商品生产商损失的拖累，而投资者则吸收了最新的通胀数据。能源巨头森科尔、帝国石油、加拿大自然和Cenovus领跌，随着油价持续下跌，损失从0.9%到1.8%不等。同样，由于金价下跌，Agnico Eagle、Barrick Gold和Wheaton Precious Metals等与黄金挂钩的股票下跌了0.9%至1.5%。在经济方面，持续的通胀压力缓和了降息预期，下调后的平均核心利率稳定在2.7%，高于预期的2.5%。与此同时，在财政部长克里斯蒂娅·弗里兰（Chrystia Freeland）在秋季经济更新之前突然辞职后，投资者情绪恶化，引发了人们对财政稳定、预算赤字扩大以及加拿大对特朗普政府可能征收25%关税的反应的不确定性的担忧。

The S&P/TSX Composite Index dipped 0.4% to below 25,147 on Tuesday, marking the fourth conscutive session of decline weighed down by losses in commodity producers, while investors absorbed the latest inflation data. Energy giants Suncor, Imperial Oil, Canadian Natural, and Cenovus led the downturn, with losses ranging from 0.9% to 1.8% as oil prices continued to slide. Similarly, bullion-linked stocks such as Agnico Eagle, Barrick Gold, and Wheaton Precious Metals fell between 0.9% and 1.5% in response to declining gold prices. Economically, persistent inflationary pressures tempered expectations for rate cuts, with the trimmed-mean core rate holding steady at 2.7%, above the anticipated 2.5%. Meanwhile, investor sentiment soured after Finance Minister Chrystia Freeland's abrupt resignation ahead of the fall economic update, raising concerns about fiscal stability, a widening budget deficit, and uncertainty over Canada’s response to potential 25% tariffs under a Trump administration.