India, May 6 -- The Canadian market is up firmly in positive territory Monday afternoon with stocks from several sectors posting strong gains thanks to sustained buying support amid rising hopes of interest rate cuts by several central banks, including the Fed, European Central Bank and the Bank of Canada.
Last week, Bank of Canada Governor Tiff Macklem hinted at the possibility of a June cut if Canadian inflation kept easing.
In the U.S. data from the Labor Department showed on Friday that employment in the country rose by much less than expected in the month of April. The report showed the unemployment rate crept up to 3.9%, and the annual rate of wage growth slowed to 4% in April from 4.1% a month earlier.
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