Monthly Market Overview January 2026
LAST MONTH’S ECONOMIC EVENTS
- U.S. Employment increased by 64,000 Jobs
- U.S. Unemployment Rate Increased to 4.6%
- Canadian Employment Increased by 53,600 Jobs
- Canada’s Unemployment Rate Decreased to 6.5%
- U.S. Annual Inflation Rate Decreased to 2.7%
- Canada’s Annual Inflation Rate Unchanged at 2.2%
- U.S. Monthly Retail Sales Unchanged at 0%
- Canada’s Monthly Retail Sales Increased by 1.2%
- U.S. Third Quarter GDP Growth Rate Initial Estimate Increased to 4.3%
- Canada’s Overnight Interest Rate Unchanged at 2.25%
- United States’ Federal Funds Rate Decreased by 0.25% to 3.75%
THIS MONTH’S UPCOMING ECONOMIC EVENTS
- January 9: U.S. Bureau of Labour Statistics Non-Farm Payroll (8:30)
- January 9: U.S. Bureau of Labour Statistics Unemployment Rate (8:30)
- January 9: Statistics Canada Employment Change (8:30)
- January 9: Statistics Canada Unemployment Rate (8:30)
- January 13: U.S. Bureau of Economic Analysis Inflation Rate (8:30)
- January 15: U.S. Census Bureau Retail Sales (8:30)
- January 19: Statistics Canada Inflation Rate (8:30)
- January 22: U.S. Bureau of Economic Analysis GDP Quarterly Growth Rate Final Estimate (8:30)
- January 23: Statistics Canada Retail Sales (8:30)
- January 28: U.S. Federal Reserve Interest Rate Decision (8:30)
- January 28: Bank of Canada Interest Rate Decision (9:45)
1 (Source: Bank of Canada)
2(Source: Statistics Canada)
3(Source: United States Bureau of Labour Statistics)
4(Source: United States Bureau of Economic Analysis)
5(Source: United States Federal Reserve)
6(Source: United Census Bureau)
| Last Month’s Market Activity (for December 2025) | ||||
| Monthly Change | 2025 Change | 12 Month Change | Ending Value | |
| GLOBAL STOCK MARKETS | ||||
| S&P/TSX Composite (Canada) | 1.05% | 28.25% | 28.25% | 31712.76 |
| Dow Jones Industrial Avg. (U.S) | 0.73% | 12.97% | 12.97% | 48063.29 |
| S&P 500 (U.S.) | -0.05% | 16.39% | 16.39% | 6845.50 |
| Nasdaq Composite (U.S.) | -0.53% | 20.36% | 20.36% | 23241.99 |
| FTSE 100 (U.K) | 2.17% | 21.51% | 21.51% | 9931.38 |
| Dax (Germany) | 2.74% | 0.0% | 23.01% | 24490.41 |
| CAC 40 (France) | 0.33% | 10.42% | 10.42% | 8149.50 |
| Nikkei 225 (Japan) | 0.17% | 0.0% | 26.18% | 50339.48 |
| Nifty 50 (India) | -0.28% | 10.51% | 10.51% | 26129.60 |
| Shanghai Composite (China) | 2.06% | 18.41% | 18.41% | 3968.84 |
| Hang Seng Index (Hong Kong) | -0.88% | 27.77% | 27.77% | 25630.54 |
| BOND YIELDS & MORTGAGE RATE (UNITED STATES) | ||||
| 1 Year Treasury Bill Yield – U.S. | -3.17% | -16.29% | -16.29% | 3.472% |
| 2 Year Treasury Bill Yield – U.S. | -0.52% | -18.09% | -18.09% | 3.475% |
| 5 Year Treasury Bill Yield – U.S. | 3.59% | -14.95% | -14.95% | 3.727% |
| 10 Year Treasury Bill Yield – U.S. | 3.84% | -8.83% | -8.83% | 4.169% |
| 30 Year Mortgage Rate (Average) – U.S. | -1.52% | -14.0% | -14.0% | 6.261% |
| BOND YIELDS & PRIME RATE (CANADA) | ||||
| 1 Year Bond Yield – Canada | 5.21% | -20.75% | -20.75% | 2.422% |
| 2 Year Bond Yield – Canada | 7.07% | -11.97% | -11.97% | 2.584% |
| 5 Year Bond Yield – Canada | 8.69% | -1.84% | -1.84% | 2.909% |
| 10 Year Bond Yield – Canada | 10.26% | 6.39% | 6.39% | 3.432% |
| Prime Rate – Canada | 0.0% | -18.35% | -18.35% | 4.45% |
| CURRENCY RATES | ||||
| Canada/US Dollar | 2.01% | 4.97% | 4.97% | $0.730 |
| Euro/US Dollar | 1.29% | 13.43% | 13.43% | $1.175 |
| US Dollar/Indian Rupee | 0.61% | 5.06% | 5.06% | ₹ 89.905 |
| US Dollar Japanese Yen | 0.32% | -0.34% | -0.34% | ¥156.675 |
| US Dollar/Chinese Yuan | -1.15% | -4.17% | -4.17% | ¥6.994 |
| Bitcoin/USD | -3.64% | -6.11% | -6.11% | $87,628.00 |
| FOODS/GRAINS | ||||
| Coffee ($USD/lbs.) | -8.59% | 8.98% | 8.98% | $3.485 |
| Cocoa ($USD/Metric Ton) | 9.79% | -48.24% | -48.24% | $6,043.000 |
| Orange Juice ($USD/lbs.) | 30.7% | -58.42% | -58.42% | $2.040 |
| Sugar ($USD/lbs.) | -1.71% | -22.38% | -22.38% | $0.150 |
| Wheat (USD/Bushel) | -5.94% | -8.16% | -8.16% | $5.065 |
| Corn ($USD/Bushel) | -1.51% | -3.82% | -3.82% | $4.410 |
| Oats ($USD/Bushel) | -4.49% | -8.25% | -8.25% | $3.033 |
| Milk ($USD/lbs.) | -4.35% | -25.26% | -25.26% | $0.152 |
| MATERIALS | ||||
| Lumber ($USD/1000 Board feet) | -0.92% | -2.09% | -2.09% | $539.000 |
| Cotton ($USD/lbs.) | -0.63% | -5.99% | -5.99% | $0.643 |
| ENERGY | ||||
| Crude Oil (WTI – $USD/Barrel) | -1.95% | -19.95% | -19.95% | $57.410 |
| Natural Gas ($USD/MM British Thermal Units) | -34.87% | 1.97% | 1.97% | $3.159 |
| METALS | ||||
| Gold ($USD/Troy Ounce) | 1.82% | 64.05% | 64.05% | $4,332.500 |
| Silver ($USD/Troy Ounce) | 24.14% | 142.68% | 142.68% | $70.965 |
| Copper ($USD/lbs.) | 8.02% | 41.44% | 41.44% | $5.695 |
| Aluminum ($USD/Metric Ton) | 5.9% | 16.78% | 16.78% | $2,973.750 |
| Steel ($USD/Metric Ton) | 0.48% | -5.61% | -5.61% | $3,113.000 |
| REAL ESTATE | ||||
| Greater Toronto – Real Estate (Composite)1 | -0.6% | -5.70% | -5.8% | $951,700.00 |
| Canada – Real Estate (Composite)1 | -0.9% | -3.38% | -3.7% | $664,900.00 |
| COLLECTIBLES | ||||
| Fine Wine 100 Index2 | 0.4% | -2.5% | -2.5% | 319.5 |
| 1 Canadian Real Estate Association Composite Prices ending November 30, 2025. 2 Liv-ex Fine Wine 100 Index ending December 31, 2025. * Data provided by FactSet unless otherwise stated as of December 31, 2025, 3:30 PM EST. * This information has been prepared by Desmond Rubie, BCom, FCSI®, CIM®, CFP®, who is a Wealth Advisor for Rubie Wealth Management Group at iA Private Wealth. *Opinions expressed in this article are those of Desmond Rubie, BCom, FCSI®, CIM®, CFP® only and do not necessarily reflect those of iA Private Wealth Inc. *IA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Canadian Investment Regulatory Organization. iA Private Wealth is a trademark and business name under which iA Private Wealth Inc. operates.  Desmond Rubie, BCom, FCSI®, CIM®, CFP® Wealth Advisor Rubie Wealth Management Group | iA Private Wealth Insurance Advisor | iA Private Wealth Insurance* 26 Wellington Street East, 2nd Floor, Toronto, ON M5E 1S2 T: 647-429-3281 ext. 240018 | M: 416-795-6100 Desmond.Rubie@iaprivatewealth.ca Schedule a Meeting rubiewealth.com iaprivatewealth.ca Fellow of CSI (FCSI®) iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Canadian Investment Regulatory Organization. iA Private Wealth is a trademark and business name under which iA Private Wealth Inc. operates. *Insurance products are provided through iA Private Wealth Insurance, which is a trade name of PPI Management Inc. Only products and services offered through iA Private Wealth Inc. are covered by the Canadian Investor Protection Fund. | ||||
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