Canada’s GDP grew by 0.3 per cent in January, faster than the 0.1 per cent forecast in a survey of economists. The gains were broad-based outside of the energy sector and included the biggest one-month increase in construction activity in more than five years. Manufacturing output also surged. This glimmer of hope may allow the Bank of Canada another kick at the can to hike interest rates one more time. Analysts are building an even bigger number if the Government of Alberta had not imposed production limits on oil. The Canadian dollar rallied to 1.3342 but has come back a bit after the initial selling woes have worn off.
Currently Close Range
USDCAD 1.3355 1.3438 1.3342-1.3443
EURCAD 1.4992 1.5077 1.4990-1.5096
GBPCAD 1.7401 1.7527 1.7344-1.7635
Prior Actual
CA: Monthly GDP January -0.1% 0.3%
Year over Year 1.1% 1.6%
Industrial Product Prices Feb -0.3% 0.3%
Year over Year 1.0% 1.2%
US: Personal Income M/M Change -0.1% 0.2%
Consumer Spending M/M Feb 0.1% 0.1%
New Home Sales February 636K 667K
Consumer Sentiment March 97.8 98.4
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