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Forex News: Canada GDP MoM to be released

Posted by Greg Michalowski on Mon, 03/31/2008 - 7:38am in

The Canada MoM change n GDP is to be released at 8:30. In the 4th quarter, the Canada GBP grew at the slowest pace since 2003. On a month on month basis, the economy contracted by 0.7% as exports slid (Exports fell the most since 2001). The higher Canadian dollar makes goods for export less competitive abroad. The month on month loss, was the first decline since September 2006. The Bank of Canada cut rates by 50 basis points in reaction to the weak numbers.

This month, the expectations are for a rebound of 0.5%.