March 1, 2010
Better than Expected Canadian GDP Pressures USD CAD
The USD CAD fell sharply lower after a report showed that the fourth quarter Canadian GDP grew faster than economists forecast. Traders erased an earlier gain after the GDP report
showed that the economy expanded by 5% versus pre-report guesses of 4.2%.
This morning’s better-than-expected GDP report indicates that the economy has enough positive momentum to perhaps trigger a more hawkish statement from the Bank of Canada at Tuesday’s
policy meeting. This robust report could …
