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%), per TD Securities. There was little market impact in either rates or FX. Key quotes “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.” 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 USD/JPY off lows, still in the red below mid-107.00s ahead of Trump FX Street 3 years 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%), per TD Securities. There was little market impact in either rates or FX. Key quotes “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… Regulated 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.
