Canadian February GDP +0.2% as expected

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The Canadian economy grew by 0.2%. RMPI is only +0.6% and IPPI is only +0.1%, Canada was expected to report a growth rate of 0.2% in February after a strong 0.5% growth rate in January. Canada releases GDP once a month. The headline figure is as expected but the secondary ones fell short.

USD/CAD was trading on low ground before the release. The pair remains around 1.0950 after a few choppy moves.– updates coming —

The Canadian Raw Materials Price Index (RMPI) for March was predicted to rise by 0.8%. The Industrial Product Price Index (IPPI) carried expectations for a rise of 0.5%.

At the same time, the US also released GDP numbers: the initial estimate for Q1 and in the US we have a big disappointment. The US grew by only 0.1% (annualized).

Despite some stronger data from Canada, the BOC remains somewhat dovish and has not totally ruled out rate cuts.

For more on the Canadian dollar, see the USDCAD prediction.

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About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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