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Canada’s GDP grows unexpectedly, Canadian dollar stronger.

By MoneyWay | Mar 29, 2019

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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