Measures to contain the virus have upended supply chains and financial markets and weighed on commodity prices, creating a perfect storm for the Canadian economy, per the Royal Bank of Canada. Key quotes “Given the hit to both the services and goods-producing sectors, we expect real GDP to contract at a greater than 30% annualized pace in the current quarter.” “Canada’s unemployment rate will likely average 14½% in the second quarter and ease toward 8% by year-end.” “Canada’s currency is likely to remain around 70 US cents in the near-term as uncertainty about the depth and duration of the crisis sees investors gravitate to the safety of US dollars.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next IEA’s Birol: Quick recovery of oil prices not expected FX Street 2 years Measures to contain the virus have upended supply chains and financial markets and weighed on commodity prices, creating a perfect storm for the Canadian economy, per the Royal Bank of Canada. Key quotes “Given the hit to both the services and goods-producing sectors, we expect real GDP to contract at a greater than 30% annualized pace in the current quarter.” “Canada’s unemployment rate will likely average 14½% in the second quarter and ease toward 8% by year-end.” “Canada’s currency is likely to remain around 70 US cents in the near-term as uncertainty about the depth and duration of the crisis… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
