Forex News: Canada GDP m/m q/q released. Weaker than expected

The CAD GDP m/m comes out at -0.7% from the previous 0.1%.  This number was forecast to be at -0.2%.  On a quarterly basis the 4 quarter growth was 0.8% down from 2.9% the 3rd quarter.  This was the slowest since 2003.

Exports declined as a result of the slowdown in the US and the Strong CAD.  This report should sway the split opinion of a 25 or 50 basis point cut move closer to a 50 basis point cut at the BOC meeting tomorrow.

GDP Measures the total value of all goods and services produced by that nation's economy.  This falling statistic typically has a negitive effect on a nation's currency as this number is one of the best to measure the economy's strength.