- Analytics
- News and Tools
- Market News
- CAD will continue to struggle with a recovery against USD and EUR – Commerzbank
CAD will continue to struggle with a recovery against USD and EUR – Commerzbank
Growth in the Canadian economy ground to a halt in Q4. Following the publication of the data the Loonie eased. The losses were limited though. Still, economists at Commerzbank expect the CAD to struggle against USD and EUR.
Canadian GDP data confirms rate pause
“The Canadian GDP data for Q4 came in much lower than expected. It illustrated that the economy stagnated compared with the previous quarter. Moreover, the result for the previous quarter was revised to the downside.”
“The data is likely to confirm the BoC in its course. At the January meeting it had signalled that it wants to wait and see what the effects of the massive rate hikes last year will be on the economy and had announced a rate pause for the meeting next week.”
“The economic momentum is likely to suit the BoC and confirm it in its view that the stubbornly high core inflation levels will also return towards its target rate soon. It will be important for the Loonie now whether the Canadian data will confirm this picture.”
“CAD will continue to struggle with a recovery against USD and EUR, as core rate concerns are keeping rate expectations high there.”
© 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
