Banks’ earnings reports could rattle TSX

By Staff | November 30, 2015 | Last updated on November 30, 2015
1 min read

Canadian banks declare earnings this week, and they may have a major impact on TSX trading. That and more from Prab Sagoo, associate director at Nasdaq Advisory Services.


  • Domestically, we have Q3 GDP data due Tuesday, where we may see further tepid growth underline a slow exit from the shallow recession the country suffered earlier this year.
  • On Wednesday, the Bank of Canada will make its next rate decision. We do not expect a change in the benchmark interest rate.
  • This week Canada’s banks release earnings results. The market is eager to see how the sector is faring given persistent weakness in oil prices and challenges on the domestic debt front. The results may materially affect TSX trading this week.
  • All eyes will be on U.S. nonfarm payroll data on Friday; a strong reading will pretty much cement the prospect of a Fed rate hike in December.
  • Over the next three weeks we anticipate a number of market participants to engage in tax-loss selling to lower potential tax bills, further weighing on near-term levels. The TSX is down 8% YTD and approximately two thirds of the TSX constituents are in the red for the year. staff


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