Loonie Weakens Ahead Of Canada's GDP Report

Date : 04/30/2012 @ 8:25AM
Source : RTTF2
Stock : United States Dollar (B) VS Canadian Dollar Spot (USD/Cad) (USDCAD)
Quote : 1.28695  0.01063 (0.83%) @ 12:10PM
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Loonie Weakens Ahead Of Canada's GDP Report

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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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