Canadian economic accounts, third quarter 2014 and September 2014 | Forex Factory

  • Canadian economic accounts, third quarter 2014 and September 2014

    From gc.ca

    Real gross domestic product (GDP) rose 0.7% in the third quarter, following a 0.9% gain in the second quarter. On a monthly basis, real GDP by industry increased 0.4% in September. The main contributors to GDP growth were exports of goods (+2.2%) and household final consumption expenditure (+0.7%). Business gross fixed capital formation (+1.5%) was also up. Final domestic demand rose 0.7% after increasing 0.8% in the previous quarter. Household final consumption expenditure advanced in the third quarter as outlays on durable goods increased 3.0%. Semi-durable goods were also up while non-durable goods edged down. ... (full story)

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Voipey
Nov 28, 2014 7:54am
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Quoting pipskatcher
what will be effect on USDCAD?
Irrespective of the GDP figures which have been pretty much in line with the estimates.
The CAD could depreciate further from the present levels given the low crude oil prices and the RMPI figures. I personally expect USDCAD to hit 1.1450 in the near term which is good resistance area. But avoid going short on the pair as long as the prices of crude stay at such low levels.
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frx_trader
Nov 28, 2014 8:29am
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Quoting Guest
The Looney is junk now. Who would want it?
What do you say abt JPY? EUR? AUD?
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pipskatcher
Nov 28, 2014 7:34am
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what will be effect on USDCAD?
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Trader#0F9B
Nov 28, 2014 8:08am
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Quoting Voipey
Irrespective of the GDP figures which have been pretty much in line with the estimates.
The CAD could depreciate further from the present levels given the low crude oil prices and the RMPI figures. I personally expect USDCAD to hit 1.1450 in the near term which is good resistance area. But avoid going short on the pair as long as the prices of crude stay at such low levels.
The Looney is junk now. Who would want it?
Reply
keymoney
Nov 28, 2014 9:36am
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USDCAD resistance almost hit
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bearbull01
Nov 28, 2014 4:26pm
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Back to 1.13s 1.12s by friday I think. Employment and trade balance should beat I think.
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bearbull01
Nov 28, 2014 4:27pm
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Who would want AAA credit rated country's currency? Lol
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Trader#A2DD
Nov 28, 2014 7:43am
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USDCAD should be going up ! with the current oil price we should see CAD loosing ground agains most pairs...
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Trader#7EB7
Nov 28, 2014 8:46am
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Quoting Guest
The Looney is junk now. Who would want it?
the exporter from Canada to pay local employees, and buy things on Canada using CAD...
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Trader#AFE2
Nov 29, 2014 6:39am
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AAA credit rated country? You mean the country with an even higher consumer debt level than the US?
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