Weekly Outlook for Cad

Weekly Outlook for Cad


Quotes from Barclays Capital:
-Canadian data have been rather soft lately, likely reflecting external headwinds such as the slowdown in the US economy. However, we think domestic factors remain solid and continue to expect modest economic growth for Canada in in coming months, supported by a pick-up in the US economy and improving terms of trade due to the rebound in oil prices.
-While disappointing retail sales and trade balance data suggest downside risks to our forecast, job growth and manufacturing shipments remained solid, and we expect Q2 GDP (Friday) to be 2.0% q/q annualized (cf. 1.6%). If this is correct, it would likely be CAD supportive.


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