01:51 PM EDT, 05/03/2024 (MT Newswires) -- According to Andrew Grantham, Friday's employment data may show a "modest" rebound in hiring for April, but he said a further rise in the unemployment rate and tick down in wage growth should still provide the Bank of Canada evidence that slack

is continuing to open up and support a first interest rate cut at the next meeting in June.

(The CIBC calendar has IVEY PMI data for April due Tuesday; the Release of the Financial System Survey on Thursday; and the release of the Senior Loan Survey on Friday).

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