CAD: Forecasting a 0.5% m/m gain in industry level GDP – RBC CM

Sandeep Kanihama FXStreet Contributor

Elsa Lignos, Senior Currency Strategist at RBC Capital Markets, suggests that they are forecasting a 0.5% m/m gain in Canada’s July industry level GDP, following 0.6%m/m in June.

Key Quotes

“The main story is expected to be a continued recovery in oil and gas extraction after the wildfire drop in May, with a ~5% m/m gain anticipated. But there is downside risk to our forecast after weak July retail sales on Friday.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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