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Golden Minerals Announces Return of El Quevar Silver Project: Everything You Need to Know on Wednesday

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Moomoo News Canada wrote a column · Mar 27 07:58
Golden Minerals Announces Return of El Quevar Silver Project: Everything You Need to Know on Wednesday
Good morning mooers! Here are things you need to know about today's market:
●S&P/TSX 60 Index Standard Futures are trading at 1,329.10 ,up 0.22%.
●Desjardins economic studies on the economic impact of Canada's new immigration plans
●BoC expects to cut rates this Year, governing council split on timing
●Oil falls 1% as US Crude inventories surge
●Stocks to watch: Air Canada, Barrick Gold, Golden Minerals
Market Snapshot
Today, the Canadian dollar is trading at 73.54 cents US, a slight decrease from Tuesday.
The S&P/TSX 60 Index Standard Futures (SXF) are currently trading at 1329.10, which is up 0.22% from the previous close.
Top Stories
Macro
Desjardins Economic Studies on The Economic Impact of Canada's New Immigration Plans
Desjardins Economic Studies (DES) has revised its population growth forecasts significantly downward in response to the federal government's recent announcement of plans to reduce the number of non-permanent residents (NPRs) in Canada from about 2.5 million to around 2 million within three years. To achieve this target, an unprecedented net reduction of NPRs would be necessary, where more leave than enter the country.
While the working-age population growth is expected to see a modest decline this year, the impact will be more pronounced in 2025 and 2026, with annual growth projections dropping from 1.7% to 0.7%. Although slower population growth is anticipated to dampen overall economic activity, DES predicts an increase in real gross domestic product (GDP) per capita, bolstered by potentially higher productivity growth. Nonetheless, the aggregate real GDP growth is projected to be lower, with the increased productivity insufficient to counteract the effects of reduced population growth, leading to a more negative outlook for the forecasted output gap compared to earlier projections.
BoC Expects to Cut Rates This Year, Governing Council Split on Timing
The Bank of Canada, in its deliberations summary, indicates optimism about reducing interest rates within the year if economic and inflation trends align with projections. However, there's a lack of consensus among officials on the appropriate timing for such cuts, hinging on a continued and significant decline in 'underlying inflation' indicators.
The central bank, maintaining a cautious stance, kept its rate at 5% earlier in the month, with Governor Tiff Macklem emphasizing the risk of acting prematurely. Contrarily, the U.S. Federal Reserve has paused rate changes but signals future cuts, despite rising inflation. In Canada, lower-than-expected inflation rates bolster predictions of mid-year rate cuts by the Bank of Canada, though persistent inflation, particularly in housing costs, could necessitate a lengthier period of restrictive monetary policy. With shelter costs significantly up and contributing to February's inflation, the central bank's next rate decision on April 10 is highly anticipated amidst concerns over inflation's trajectory.
Commodities
Oil Falls 1% as US Crude Inventories Surge
Crude oil prices declined further, slipping over 1% on Wednesday due to a significant increase in U.S. inventories and indications that the OPEC+ alliance is not expected to alter its production strategy during the upcoming technical gathering next week.
Stocks to watch
Air Canada Issues Annual Report Highlighting its Achievements in 2023
Today, $Air Canada(AC.CA)$ released its Annual Report for 2023, showcasing the airline's accomplishments over the year. The report, highlighting robust financial performance with unprecedented annual revenue, also details progress on major strategic endeavors. Interested parties can find the report in the Investor Relations area of Air Canada's website at www.aircanada.com.
"We continued to renew our fleet with more fuel-efficient and comfortable aircraft, and we expanded our network and products to offer more choice and convenience to our customers. We also advanced our Environmental, Social and Governance programs through our sustainability, equity and accessibility activities and supported the communities we serve, including by providing thousands of employment opportunities.
Golden Minerals Announces Return of El Quevar Silver Project
$Golden Minerals Co(AUMN.CA)$ today declared that $Barrick Gold Corp(ABX.CA)$ has informed them of its decision to pull out of the Earn-In Agreement regarding the El Quevar silver project located in the Salta province of Argentina. This agreement, originally executed by both entities in April 2020, is set to end on April 20, 2024.
Today's Economic event
Golden Minerals Announces Return of El Quevar Silver Project: Everything You Need to Know on Wednesday
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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