GDP Below Expectations

By The National Bank of CanadaMarket OverviewNov 01, 2017 09:22

ca.investing.com/analysis/gdp-below-expectations-200196293

GDP Below Expectations

By The National Bank of Canada | Nov 01, 2017 09:22

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The Canadian economy grew at an annualized 3.5% compared with a forecast 3.6%, marking a third straight month of a slowing economy. This disappointing reading led the loonie to lose 50 basis points against the greenback. Bank of Canada Governor Stephen Poloz and Senior Deputy Governor Carolyn Wilkins testified to Parliament yesterday afternoon, making the following points:

- Canada is lagging a few years behind the U.S. economic cycle

- For the first time in several years, the economy is running very close to its potential

- The trade deficit reflects a robust economy

- Household debt levels are a concern, while government debt remains relatively low

- The job market is still showing signs of fragility

Today, we expect the U.S. Federal Reserve to hold steady on its key rate at 2 p.m. This decision should not have a material impact on financial markets in general, however, based on the accompanying comments, it could reinforce anticipations of a key rate increase in December, the likelihood of which is currently priced above 85%.

Yusuf Kocagozli

Range of the day: 1.2810 – 1.2945

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Central Banks

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3.00%

Mar 12, 2025

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4.50%

Mar 19, 2025

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4.50%

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2.65%

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SNB

0.50%

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13.25%

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S&P/TSX	24,584.04	-286.78	-1.15%
S&P/TSX 60	1,481.64	-15.89	-1.06%
US 30	42,677.0	+98.2	+0.23%
US 500	5,760.9	+22.4	+0.39%
S&P 500 VIX	24.87	+2.94	+13.41%
DAX	23,419.48	+338.45	+1.47%
Dollar Index	104.040	+0.012	+0.01%

Crude Oil WTI	66.56	+0.20	+0.30%
Brent Oil	69.71	+0.25	+0.36%
Natural Gas	4.275	-0.003	-0.07%
Gold	2,915.56	-11.04	-0.38%
Silver	33.223	-0.116	-0.35%
US Soybeans	1,028.13	-0.13	-0.01%
US Cotton #2	65.10	-0.14	-0.21%

Bombardier Inc	87.400	+0.510	+0.59%
Enbridge	41.60	-0.89	-2.09%
Air Canada	16.07	-0.60	-3.60%
Broadcom DRC	42.59	-2.87	-6.31%
Apple	235.33	-0.41	-0.17%
Alibaba ADR	139.95	-1.08	-0.77%
Tesla	263.45	-15.65	-5.61%

Canada 5Y	2.745	+0.014	+0.51%
Canada 10Y	3.090	+0.021	+0.68%
Canada 30Y	3.330	+0.025	+0.76%
U.S. 2Y	3.943	-0.021	-0.53%
U.S. 10Y	4.251	-0.031	-0.72%
U.S. 30Y	4.557	-0.022	-0.48%
Germany 10Y	2.8845	+0.1015	+3.59%

GDP Below Expectations

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