Canada's ruling Liberal party is expected to remain in office albeit with a minority government a few seats short of a standalone majority.
Polls have been closed for several hours in Canada, with results of the Federal election starting to come in. Mark Carney's governing Liberal party has pulled off a huge comeback by winning something very close to an outright victory. The CBC is forecasting the Liberals will be just 5 seats short and will easily form a coalition with the NDP or another party or parties. The Canadian Dollar and the Canadian stock market have barely been affected. One noteworthy point: the gap between the Liberals and Conservatives was less than 2% in the popular vote, so the result is actually closer than it looks.
Markets are generally quiet. Stocks broadly are a bit higher this morning after the US Presidency agreed to exempt metal components from auto import tariffs.
- Bitcoin
saw a firm recovery last week, in line with the general recoveries shown by most risk-on assets but has been unable to break above the key resistance level at $95,038 which continues to hold today. The longer this level survives tests from below, the more pivotal and tradable it will be come when we finally see either a breakout or a decisive bearish reversal.
There will be a release of JOLTS Job Openings data in the USA today.