Canada: Current account deficit is likely to approach the record shortfall - BBH
|Research Team at BBH, suggests that the US data stream is light with house prices and consumer confidence the only reports of note but the main data release if from Canada which reports Q2 current account.
Key Quotes
“The deficit is likely to approach the record shortfall posted in Q3 2010 of C$20.2 bln. The larger the deficit, the more the downside risk of Q2 GDP, which will be reported tomorrow. Canada is the only G7 country that appears to have contracted in Q2. The median forecast is for a 1.5% annualized pace of contraction. The US dollar may challenge a downtrend against the Canadian dollar that comes in today just below CAD1.3100.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.