- Analytics
- News and Tools
- Market News
- Canada: The loonie does not react to better than expected GDP - TDS
Canada: The loonie does not react to better than expected GDP - TDS
FXStreet reports that analysts at TD Securities note that Canada's real GDP for Q1 and March surprised to the upside with contractions of 8.2% q/q (TD/market: -10%) and 7.2% m/m (TD: -7.0%, market: -8.5%). There was little market impact in either rates or FX.
“The Canadian economy contracted by 8.2% annualized in Q1 (TD/market: -10%), just shy of the 8.7% contraction in Q1 2009, on a sharp pullback (-9.0%) in household consumption while industry-level GDP plunged by 7.2% m/m in March, in line with TD's forecast (-7.0%) and slightly above the market consensus for -8.5%.”
“Statistics Canada also published flash GDP estimates which point to another 11% m/m contraction for April. An 11% decline in April, along with a slightly better handoff from March, hints at a Q2 contraction in the 40% (annualized) range.”
“We remain constructive on Canadian fixed income (we especially like owning the long-end of the curve), and we like USD/CAD higher over the short-term.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
