Category: Uncategorized

  • Tribunal approves $8.5-billion deal for Ontario First Nations to lead their own child welfare

    The Canadian Human Rights Tribunal has approved an $8.5-billion agreement that will give First Nations in Ontario authority to lead their own children and family services in a long-term deal with the federal government.

    This is the first regional agreement to be finalized in a 20-year battle for equitable child welfare services for First Nations across the country. The fight started in 2006 when the First Nations Caring Society argued the federal government was discriminating against Indigenous children by underfunding them.

    “First Nations in Ontario are ready, and they have chosen to exercise their right to self-determination by requesting this agreement,” read a letter from the tribunal dated Monday.

    Claimants in First Nations child welfare case start receiving payments

    In its expedited decision, the tribunal emphasized that First Nations have always been the best option to care for their own children.

    “The concept of the ‘best interests of the child’ has too often been used to justify oppression, removal, and control, while imposing non-Indigenous perspectives on Indigenous Peoples,” read the decision.

    “For this reason, the Tribunal has consistently emphasized that the best interests of the child must be understood and applied through an Indigenous lens to avoid repeating history.”

    The tribunal went on to say that the “unnecessary” removal of children from their families and communities qualified as the “worst harm.”

    The agreement includes funding for capital, support for children once they reach the age of majority, and prevention efforts. The deal also includes $258-million for housing infrastructure designed to keep children safe in their own homes, the minister said.

    In 2016, the Canadian Human Rights Tribunal sided with the First Nations Caring Society and ordered the government to end its discrimination against First Nations children and families. The parties have since negotiated a $23-billion compensation package for 300,000 First Nations children and adults across the country that began to roll out last year.

    Ontario First Nations leadersin 2024 pushed Assembly of First Nations chiefs to accept a $48-billion offer to reform child welfare services, negotiated by the AFN, Chiefs of Ontario, Nishnawbe Aski Nation, and Indigenous Services Canada, on behalf of all First Nations. Ultimately the AFN chiefs rejected the offer, holding out for a larger investment and a clearer commitment. The Chiefs of Ontario and Nishnawbe Aski Nation then moved forward with their own negotiations.

    Minister of Indigenous Services Mandy Gull-Masty said in a press release Monday the Ontario agreement “will support First Nations in exercising their right to care for their own children – by strengthening prevention-focused services, supporting families, and enabling communities to design and deliver programs rooted in their own laws, cultures, languages, and priorities.”

    The tribunal said the agreement satisfies its order to end Canada’s discrimination against First Nations children and families by giving control and jurisdiction to the First Nations in Ontario.

    Tanya Talaga: Truth and reconciliation, 10 years later: Education got us into this mess. Will it get us out?

    Nishnawbe Aski Nation Grand Chief Alvin Fiddler said in a press conference in Toronto that the agreement includes a new funding formula to determine specific costs for child welfare service delivery in the remote north.

    “We want to also apply that to education and health and capital,” Mr. Fiddler said.

    National Chief Cindy Woodhouse Nepinak of the AFN commended the Ontario leaders for their work to ensure “funding matches the economic realities of First Nations in remote areas.”

    The national organization called on Canada “to make the same commitment and to work with any region that chooses to pursue a regional path to long-term reform, and to resume the work towards a national agreement. We also hope to see the OFA funding flow swiftly and without delay.”

    Cindy Blackstock of the First Nations Caring Society said the decision preserves the order that Canada permanently stop its discrimination against First Nations children.

    She wants the tribunal to approve a plan submitted by the Caring Society and the National Children’s Chiefs Commission late last year. Indigenous Services Canada has also submitted its own plan, which Ms. Blackstock calls too bureaucratic with no First Nations input.

    Federal government commits $1.55-billion for First Nations children

    At the same press conference, Grand Chief Joel Abram of the Association of Iroquois and Allied Indians said the agreement allows First Nations to move “from a system of crisis to a system of care.”

    He said the work to implement the agreement means supporting First Nations and agencies to develop plans and finalize infrastructure investment “to ensure our families have safe and functional spaces.”

    In the press conference in Toronto on Monday, young Indigenous leaders reminded the Ontario chiefs and communities of the work ahead.

    “It’s our responsibility now, it is in your hands to carry and uphold the responsibility to protect your children to ensure families have the environment to thrive,” said Kohen Mattinas, a member of the Oshkaatisak Youth Council from Thunder Bay.

    “Today marks a step towards healing the child and the parent and breaking cycles to ensure that we raise happy and healthy families, healthy and happy children together.”

  • Calendar: Mar 30 – Apr. 3

    Monday March 30

    Euro area economic and consumer confidence; Germany CPI and retail sales

    1030 am ET: Federal Reserve Chair Jerome Powell participates in a moderated discussion at Harvard University

    Earnings include: Allied Gold


    Tuesday March 31

    China PMIs. Japan CPI, jobless rate, retail sales and industrial production

    Euro area CPI for March. It’s expected to be up 2.6 per cent from a year earlier, accelerating from February’s 1.9 per cent

    830 am ET: Canada monthly real GDP. A flat reading is expected

    9 am ET: U.S. S&P Cotality Case-Shiller home price index

    10 am ET: U.S. job openings and labour turnover survey for February

    10 am ET: U.S. conference board consumer confidence index

    Earnings include: Beyond Meat


    Wednesday April 1

    Manufacturing PMIs from China, Japan, euro area and UK

    S&P global manufacturing surveys released for Canada and U.S.

    815 am ET: U.S. ADP national employment report for March

    830 am ET: U.S retail sales for February. Consensus is for a rise of 0.4 per cent, or 0.2 per cent excluding autos and gasoline

    10 am ET: U.S. business inventories for January

    130 pm ET: Bank of Canada Summary of Deliberations for the March 18 policy decision

    March U.S. and Canadian auto sales

    Earnings include: Conagra Brands, Tilray Brands


    Thursday April 2

    830 am ET: Canada merchandise trade balance for February. A $3-billion deficit is expected

    830 am ET: U.S. initial jobless claims

    830 am ET: U.S. goods and services deficit for February. Consensus is US$61.1-billion


    Friday April 3

    Canadian and U.S. stock markets closed for Good Friday. Limited bond market activity.

    830 am ET: U.S. nonfarm payrolls for March. Consensus is 51,000 net new jobs, a turnaround from February’s loss of 92,000 jobs. The unemployment rate is expected to hold steady at 4.4 per cent


    Sunday, April 5

    OPEC+ meeting

  • Alimentation Couche-Tard CEO optimistic despite rising fuel costs straining customers

    Higher gas prices may be rattling consumers, but the head of convenience store giant Alimentation Couche-Tard Inc. isn’t worried about it causing a dramatic hit to his business.

    CEO Alex Miller says historically, when fuel has become more expensive, the amount of gas the average customer purchases at one time has fallen.

    He says that doesn’t mean higher gas prices are destructive for demand because he’s seen them spur additional trips to the pumps.

    He reasons that’s because many consumers have no choice but to fill up their gas tanks, even when it gets more costly to do so.

    Gas prices cracked the $2-per-litre mark in some Canadian markets this week as the war in the Middle East continued, hampering the supply and driving up the price of fuel.

    Miller says high gas prices do put additional pressure on already-stretched consumers, but doesn’t hinder in-store traffic or performance at his stores.

  • Linamar signs deal to buy two factories in Germany

    Linamar Corp. says it has signed a deal with Winning BLW to buy the company’s factories in Remscheid and Penzberg, Germany.

    Financial terms of the deal were not immediately available.

    Linamar says the Remscheid operation produces high-performance precision bevel and intermediate gears for the light vehicle market.

    The Penzberg facility specializes in helical gears and high-precision components serving the commercial and off-highway sectors.

    Linamar says both locations serve customers that it already has significant existing business with, while also introducing new key customers.

    It says the deal will add about $200 million in annualized revenue.

    This report by The Canadian Press was first published March 27, 2026.

  • Mar 27: Stocks sink as Iran strike postponement offers limited reprieve

    Major North American indexes were mixed on Friday as ⁠the ​month-long Middle East conflict dragged on, weighing on ​sentiment ‌despite the United States pushing back another deadline to ‌strike ​Iran’s ‌energy infrastructure.

    At 10:09 a.m. ET the ⁠Dow Jones Industrial Average fell 1.06%, the S&P 500 lost 0.94%, and the Nasdaq Composite ⁠shed 1.27%.

    The Toronto Stock ⁠Exchange’s S&P/TSX composite ​index opened lower but soon turned around with the help of rallying gold and oil prices. In late morning trade, it was up 0.6%.

    Oil prices rose, but were set for their first weekly decline since February 9 as U.S. President Donald Trump extended a pause in attacks ⁠on Iran’s energy ​plants, though investors remain cagey about prospects for ceasefire in the month-old war.

    Brent crude futures rose by $2.85, or 2.64%, to $110.86 a barrel by 1322 GMT. U.S. West Texas Intermediate futures were up $2.53, or 2.68%, at $97.01.

    The Brent benchmark has jumped 53% since ​February 27, the day before the U.S. and Israel ‌launched strikes against Iran, but was down 1.2% this week. WTI, up 45% since the war began, was down 1.3% over the week.

    “Despite talks of de-escalation, oil is trading on war longevity, not just headlines. Any direct damage to oil infrastructure or prolonged conflict could force markets to rapidly reprice ‌higher,” said ​Priyanka Sachdeva, analyst at Phillip ‌Nova.

    While Trump extended his deadline for Iran to reopen the Strait of Hormuz or ​face the destruction of its energy infrastructure, the U.S. has ⁠also sent thousands of troops to the Middle East, with Trump weighing ⁠whether to use ground forces to seize Iran’s strategic oil hub of Kharg Island.

    The U.S. can only ​determine with certainty that it has destroyed about a third of Iran’s vast missile arsenal, five people familiar with the U.S. intelligence told Reuters.

    An Iranian official told Reuters that a 15-point U.S. proposal, conveyed to Tehran by Pakistan, was “one-sided and unfair.”

    “More talk of a deferral of U.S. strikes on the Iranian ⁠grid seems to have faded quickly, with the market all too aware of the build-up of U.S. miliary power, Iranian intransigence and the tendency towards a flurry of events over the weekend when markets are closed,” said Sparta Commodities analyst Neil Crosby.

    The conflict has taken about 11 million barrels per day out of global oil supply, with the ⁠International Energy Agency describing the crisis as worse than ​the two 1970s oil shocks combined.

    “Every day flows through the Strait remain restricted, more than 10 million ⁠barrels of oil are missing … tightening the oil market further,” said UBS analyst Giovanni Staunovo.

    Analysts at Macquarie Group said ‌that oil prices will fall quickly if the war begins to wind down soon but ​still remain above pre-conflict levels. However, prices could rise to $200 if the war drags on until the end of June, they added.

    The S&P 500 and the Nasdaq stayed on ‌track for their ​fifth week of losses. The Dow ‌was set to end the week little changed.

    The CBOE Volatility Index, considered Wall Street’s fear gauge, ​was up 2.56 points at 30.

    At 10:09 a.m. ET the ⁠Dow Jones Industrial Average fell 1.06%, the S&P 500 lost 0.94%, and the Nasdaq Composite ⁠shed 1.27%.

    The S&P 500 communication services index remained under pressure and was down 0.9% as Alphabet and Meta posted declines of 1.2% ​and 1.7%, respectively.

    Software stocks were also hit, with the iShares Expanded Tech-Software sector ETF falling 3.4% to a more than one-month low.

    Consumer discretionary stocks lost 1.4%. Cruise-operator Carnival Corp was down 1.3% after cutting its annual adjusted profit forecast.

    Oil prices were up nearly 3%, weighing on airline stocks, with American Airlines and United Airlines down 1.2% each.

    On Thursday, the Nasdaq ended ⁠more than 10% lower from its record close, confirming it had been in correction territory. The Russell 2000, the first on the correction path, confirmed it last Friday.

    “The speed of the market’s declines in recent weeks and the fact that most of this fear has been driven by a single narrative, geopolitical tensions, suggests that the market is in the midst of a correction, and not a bear ⁠market,” said Glen Smith, chief investment officer, GDS Wealth Management.

    The spike ​in oil prices as a result of the Iran war has brought inflation fears to the forefront, ⁠complicating the future rate-cut path for central banks.

    Money market participants are not pricing in any easing from the U.S. Federal Reserve this year, compared ‌with two cuts anticipated before the conflict broke out, according to CME’s FedWatch Group. Expectations of a rate hike ​in December were last at 49%.

    University of Michigan consumer sentiment data released on Friday showed consumer sentiment was at 53.3 versus a preliminary reading of 55.5.

    Investors will look for commentary from regional Fed Presidents Thomas Barkin, Mary Daly and Anna Paulson later in the day.

    In individual movers, Unity ​Software’s shares jumped 11.7% after the maker of videogame software reported first-quarter preliminary revenue above analysts’ estimates.

    Reuters, Globe staff

  • Dollarama forecasts slower sales growth ahead, signalling potential shift in consumer sentiment

    Dollarama Inc. DOL-T +3.29%increase is predicting sales growth will slow slightly in the coming year, signalling the discount retailer that has benefited from budget-conscious shoppers may be sensing a shift in consumer behaviour.

    On Tuesday, the Montreal-based retailer forecast same-store sales growth to be between 3 to 4 per cent in the year ahead, after reporting full-year same-store sales growth of 4.2 per cent in the fiscal year ended Feb. 1.

    Same-store sales, which tracks sales growth excluding the impact of acquisitions or the opening of new locations, is an important metric in the retail industry.

    Dollarama has benefitted in recent years from a challenging economic backdrop, as Canadians in search of lower-priced goods have been driven to visit discount stores more often – a trend that grocery retailers have also noted.

    And Dollarama’s sales are still growing. In the fourth quarter, the company reported same-store sales growth of 3.5 per cent, when adjusted to remove the impact of an extra week that was included in the same period the prior year. Even with the adjustment, however, growth did slip somewhat compared to the prior year, when fourth-quarter same-store sales grew by almost 5 per cent.

    Rough weather conditions negatively impacted traffic to the stores during the quarter, president and CEO Neil Rossy said in a press release on Tuesday. The number of checkouts at Dollarama stores fell by 1.6 per cent, and people also bought less during each trip, leading to a 3.1-per-cent decline in average transaction size.

    The calendar shift also meant that this year’s quarter was missing a strong week of pre-holiday and Halloween sales, which was included in the quarterly results in the prior year.

    Dollarama reported $2.1-billion in sales in the fourth quarter, up 11 per cent compared to the same period the prior year. That increase was largely driven by Dollarama’s acquisition last year of Australia’s largest discount retailer, The Reject Shop – whose 402 stores were not part of the fourth-quarter results the prior year – as well as 75 new store openings in Canada over the past year.

    The retailer’s profits were roughly flat in the quarter, and fell on an earnings-per share basis. Dollarama reported net earnings of $392.5-million or $1.43 in diluted net earnings per common share, compared to $391-million or $1.40 per share during the same period the prior year.

    For the full fiscal year, Dollarama’s sales grew by 13.1 per cent to $7.26-billion, and comparable sales were up 4.2 per cent, accounting for the calendar shift with the additional week the prior year. Net earnings grew to $1.3-billion or $4.73 in diluted net earnings per common share, compared to nearly $1.2-billion or $4.16 per share the year before.

    In the year ahead, Dollarama is planning to open 60 to 70 new stores in Canada. In Australia, the company is planning to stock more lower-priced products that it will import to that country, and to renovate 60 to 80 stores with the Dollarama layout, as well as open 15 to 25 new stores. Investments in Australia will mean that segment of the business will likely report a net loss in the coming fiscal year, according to the company.

  • TSX – Things to Look out For Week Beginning March 23

    As of March 21, 2026, the S&P/TSX Composite Index is navigating a period of heightened volatility. After three consecutive weeks of losses, including a recent 4% drop, investors should monitor the following factors for the upcoming week:

    Geopolitical Tension: Ongoing conflict continues to impact global markets, acting as a “buffer” against growth and driving investor anxiety [1]. However, some analysts suggest this “Wall of Worry” could eventually fuel a market rebound if fears prove overblown [4].

    Monetary Policy & Interest Rates: Watch for shifts in central bank rhetoric. Current projections indicate the Federal Reserve may only implement one additional rate cut in 2026, with fewer officials supporting aggressive easing [3].

    Economic Growth Data: While the U.S. economy remains a solid anchor with a 2.4% growth forecast for 2026 [2], Canadian performance hinges on core inflation and labor market stability [6].

  • Calendar: March 23 – March 27

    Monday March 23

    Euro area consumer confidence

    10 am ET: U.S. construction spending for January


    Tuesday March 24

    Japan CPI and PMIs

    Euro area manufacturing PMIs

    815 am ET: U.S. ADP employment report

    830 am ET: Canada manufacturing sales for February

    830 am ET: U.S. productivity and unit labour costs for the fourth quarter

    945 am ET: U.S. S&P global PMIs for March

    Manitoba budget

    Earnings include: Dollarama, Ag Growth International, Aimia, GameStop, KB Home


    Wednesday March 25

    Germany business confidence. UK CPI

    830 am ET: U.S. current account deficit for the fourth quarter

    830 am ET: U.S. import prices for February

    Earnings include: Chewy, goeasy, Pizza Pizza


    Thursday March 26

    Consumer confidence readings released across Europe

    830 am ET: Canada payroll survey for January

    830 am ET: U.S. initial jobless claims

    12 pm ET: BoC senior deputy governor Rogers speaks in Brandon, Manitoba

    G7 foreign ministers meeting near Paris, through Friday

    Earnings include: BRP


    Friday March 27

    ECB 3-year CPI expectations

    830 am ET: Canada wholesale trade for February

    10 am ET: University of Michigan consumer sentiment for March

    Ottawa’s budget balance for January

    Earnings include: Carnival

  • Gold Price & Gold Stocks

    Executive Summary

    • Gold is ~flat to slightly up (~+1% to +2%) over the past 10 days, not down
    • Range: roughly US$2,150 → US$2,200–2,220/oz (tight band)
    • Primary driver: consolidation after a strong prior rally
    • Offsetting forces: rate pressure (negative) vs safe-haven + central bank demand (positive)
    • Net result: sideways, low-volatility digestion phase

    Key Drivers (last 10 days)

    1) Consolidation after prior rally (dominant)

    • Gold had a strong run into early March
    • Last 10 days:
      • No follow-through buying
      • No aggressive selling

    Interpretation:

    • Market is absorbing gains, not reversing trend

    2) Interest rates (headwind, but not dominant)

    • US yields remain elevated
    • Normally bearish for gold

    Observed impact:

    • Prevents breakout above ~US$2,220
    • But not strong enough to trigger selloff

    3) USD strength (moderate pressure)

    • USD firm over the period
    • Caps upside

    Effect:

    • Gold stalls rather than declines

    4) Safe-haven + central bank demand (support)

    • Ongoing geopolitical tension
    • Structural central bank buying

    Impact:

    • Creates strong floor around ~US$2,150–2,170

    5) Positioning equilibrium

    • No forced liquidation
    • No aggressive inflows

    Result:

    • Balanced market → range-bound behavior

    Data & Evidence (approximate 10-day range)

    MetricObservation
    Start~US$2,150
    Low~US$2,140–2,150
    High~US$2,220
    Current~US$2,200
    Net move~+1% to +2%
    VolatilityLow (~1% daily)

    Valuation / Macro Logic

    Current driver hierarchy:

    1. Real yields (cap upside)
    2. USD strength (cap upside)
    3. Safe-haven demand (support)
    4. Central bank buying (structural floor)

    → Net effect: equilibrium → sideways price action


    Risks (short-term)

    • Upside risk:
      • Yield decline
      • USD weakening
    • Downside risk:
      • Further rate repricing
      • ETF outflows

    Scenarios (next 2–4 weeks)

    Bull

    • Break > US$2,220
    • Target: US$2,300

    Base

    • Range: US$2,150–2,220 (most likely)

    Bear

    • Break < US$2,150
    • Target: US$2,050–2,100

    Actionable Takeaways

    • No trend over last 10 days — pure consolidation
    • Gold is:
      • Holding gains
      • Not reacting strongly to rates
    • Key signal:
      • Tight range → next move likely directional breakout
    • Watch:
      • US 10Y real yields
      • USD index (DXY)