The Week Ahead: Jul 13–17, 2026
As markets continue to navigate inflation, interest rates, and geopolitical uncertainty, one factor remains essential for long-term economic growth: confidence. Businesses make investment decisions when they have clarity about future trade relationships, while investors benefit from stable economic policies that support sustainable growth.
In this week's market outlook, James Leung highlights commentary from CIBC Chief Economist Avery Shenfeld, who examines the importance of preserving the Canada–United States–Mexico Agreement (CUSMA) and why maintaining predictable trade relationships remains critical for Canada's long-term economic competitiveness.
3 Key Takeaways
Stable Trade Relationships Support Long-Term Growth
Although Canada has already experienced the impact of recent tariffs, maintaining CUSMA provides an important foundation for businesses that rely on cross-border trade. Preserving the agreement helps reduce uncertainty and supports investment decisions that contribute to long-term economic growth.
Business Confidence Drives Investment
Trade uncertainty affects more than exports—it influences where companies choose to invest, expand, and create jobs. As businesses evaluate future access to U.S. markets, confidence in long-term trade relationships becomes an important factor in capital investment decisions.
Patience Remains Important for Investors
While inflation, central bank policy, and economic data will continue attracting market attention this week, investors should remain focused on long-term fundamentals rather than reacting to short-term headlines. Sustainable wealth is built through disciplined decision-making supported by a broader economic perspective.
Quote of the Week
"The strongest investment decisions are built on confidence, not certainty. Markets will always face uncertainty, but disciplined investors focus on resilient businesses, enduring relationships, and long-term opportunities.”
— James Leung
About the Contributor
James Leung
Senior Wealth Advisor & Portfolio Manager, CIBC Wood Gundy; Founder & Director, 6ix Wealth Foundation
James shares market commentary, economic observations, and wealth management perspectives to help investors and business leaders better understand the trends, opportunities, and developments shaping today's financial landscape.
Read the Original Commentary
This article is based on James Leung's weekly market outlook originally shared on LinkedIn and commentary from CIBC Capital Markets.
Read the Full Commentary on LinkedIn →
Disclaimer
This article is intended for informational and educational purposes only and should not be considered financial, investment, legal, or tax advice. Readers should consult qualified professionals regarding their individual circumstances before making financial decisions.
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