Bearish sentiment growing

By Staff | September 8, 2015 | Last updated on September 8, 2015
1 min read

Prab Sagoo, associate director at Nasdaq Advisory Services, identifies four key themes for this week:

  • The trend remains downward for the TSX.
  • Friday’s U.S. employment data came in below expectations, further muddying the waters as analysts try to predict the Federal Reserve’s next move at its upcoming September meeting.
  • The Bank of Canada will be meeting on Wednesday to discuss its latest interest rate settings. While there are still calls for another cut, it seems likely that with the U.S. economy continuing to grow and with Friday’s somewhat positive Canadian employment report, Poloz won’t cut rates.
  • The latest short interest data from the second half of August indicated that bearish sentiment continued to grow amongst TSX constituents, with investors increasing bearish bets against specific economically sensitive industrials while covering short bets against defensive consumer staples names. staff


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