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31 Mar 2015
Canadian GDP release today might come out below expectations – TDS
FXStreet (Barcelona) - Jacqui Douglas, Chief European Macro Strategist, at TD Securities, expects today’s Canadian GDP to print a -0.3% figure, with consensus expecting a -0.2% reading.
Key Quotes
“In Canada all eyes will be on Jan GDP, where we’re below consensus in looking for a –0.3% reading (mkt –0.2%), but wouldn't be shocked to see something even softer than that.”
“As for market reaction, we’ve already seen a lot of weakness priced into both CAD and Canadian fixed income, plus Poloz has been pretty clear already that Q1 is looking quite soft, describing it as “atrocious” in yesterday’s FT interview.”
“So our official -0.3% forecast may not be enough to get much of a market reaction, and we would probably have to see something even a little softer than that to get markets thinking about pricing in further easing again.”
Key Quotes
“In Canada all eyes will be on Jan GDP, where we’re below consensus in looking for a –0.3% reading (mkt –0.2%), but wouldn't be shocked to see something even softer than that.”
“As for market reaction, we’ve already seen a lot of weakness priced into both CAD and Canadian fixed income, plus Poloz has been pretty clear already that Q1 is looking quite soft, describing it as “atrocious” in yesterday’s FT interview.”
“So our official -0.3% forecast may not be enough to get much of a market reaction, and we would probably have to see something even a little softer than that to get markets thinking about pricing in further easing again.”