Canada has entered a "technical recession" for the first time since 2020

金十2026/05/29 12:42

Show original

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

Golden Ten Data, May 29 – Due to weak corporate and government spending leading to a slight contraction in the first quarter, the Canadian economy has entered a "technical recession." Statistics Canada reported on Friday that in the first three months of this year, Canada's real gross domestic product (GDP) declined by 0.1% on an annualized basis. Prior to this, the fourth quarter had already seen a contraction of 1%—this figure was revised downward from the agency's previous report of a 0.6% decline. The unexpected economic downturn in the first quarter was in stark contrast to earlier forecasts. Economists surveyed by Bloomberg had generally expected the Canadian economy to grow at an annualized rate of 1.5% in the first quarter, a projection that also matched the Bank of Canada's forecast. The last time Canada recorded two consecutive quarters of negative growth was during the COVID-19 pandemic in 2020. Prior to that, such a situation occurred during the oil price slump in 2015.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

(1) Analysis: Shipping disruptions in the Strait of Hormuz and the shutdown of approximately 1.3 million barrels per day of crude oil production in the Gulf of Mexico are supporting a supply risk premium; however, signals of dialogue between the US and Iran are limiting further upside in oil prices, which are currently still in a low-level consolidation phase, mainly awaiting a stress test. (2) Key Focus: Geopolitical situation, inventory data, US dollar index, global crude oil supply, and OPEC+ policy. (3) Resistance: 91.00, 91.50, 92.00 (4) Support: 90.00, 89.00, 88.00

智通财经•2026/10/09 02:36

Spot gold: Range-bound fluctuations, sell on rallies, buy on dips

Reason for analysis: Spot gold rebounded near a two-month low, but the Federal Reserve meeting minutes show that most officials believe it may continue to raise interest rates this year. The strengthening of the US dollar and high US Treasury yields still exert pressure. The easing of tensions between the US and Iran has reduced some safe-haven demand. After technical indicators became oversold in the short term, there was a corrective rebound, but a reversal has not yet occurred, so the range-bound strategy is maintained. Key focus: US Treasury yields, US Dollar Index, geopolitical situation Resistance: 4200, 4230, 4270 Support: 4130, 4100, 4070

智通财经•2026/10/09 02:36

Shell announces completion of evacuation from five platforms including Appomattox

Shell (SHEL.US): The evacuation of the Appomattox, Mars, Ursa, Olympus, and Vito platforms has been completed.

智通财经•2026/10/09 02:26