“GDP growth slowed to 0.4% in Q4, underperforming the market consensus (1.0%) and the Bank of Canada’s forecast for 1.3%,” TD Securities said on today’s growth data from Canada. Key quotes “Details were broadly downbeat, with multi-year lows in household spending, business investment and a 0.1% decline in industry-level GDP for December (market: unch).” “This will provide a challenging backdrop to next week’s Bank of Canada meeting. Governor Poloz has been steadfast in his view that rates need to move higher but with the sharp miss on Q4 and Q1 tracking below BoC forecasts, Poloz’s conviction may start to waver.” “FX: The CAD notable weakened following the release in what is likely to be a more durable reversal of misfortune for the CAD. A move through 1.3240/65 should extend a USDCAD short squeeze towards 1.3380. We also think the conditions are in place for CAD weakness on crosses with a preference towards CADSEK downside (eyeing 6.85 in the coming weeks).” 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 EUR/USD Technical Analysis: Euro bulls looking for a breakout above 1.1400 figure FX Street 4 years "GDP growth slowed to 0.4% in Q4, underperforming the market consensus (1.0%) and the Bank of Canada's forecast for 1.3%," TD Securities said on today's growth data from Canada. Key quotes "Details were broadly downbeat, with multi-year lows in household spending, business investment and a 0.1% decline in industry-level GDP for December (market: unch)." "This will provide a challenging backdrop to next week's Bank of Canada meeting. Governor Poloz has been steadfast in his view that rates need to move higher but with the sharp miss on Q4 and Q1 tracking below BoC forecasts, Poloz's conviction may start to waver."… 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.
