Loonie Weakens Ahead Of Canada's GDP Report
April 30 2012 - 8:25AM
RTTF2
Canada is set to release its GDP report for February at 8:30 am
ET. The Canadian economy is expected to expand 2.1 percent on year
and 0.2 percent on month, faster than last month's 1.7 percent and
0.1 percent growth rate, respectively.
Statistics Canada is also set to issue its industrial product
price and raw materials price indexes for March at 8:30 am ET.
Industrial product price is expected to have a flat reading, while
the raw materials price index is expected to grow 0.2 percent in
March.
The Canadian dollar edged lower against its major rivals ahead
of the data. As of 8:25 am ET, the loonie was trading at 1.2990
against the euro, 0.9830 against the US dollar and 81.50 versus the
yen.
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