Canada GDP Growth Rate QoQ
In addition to being diversified, Canada's economy is highly developed. Foreign trade accounts for approximately 45% of the country's gross domestic product (GDP), with the United States constituting by far the largest trading partner. When it comes to expenditures, household consumption is the most important component of GDP, accounting for 58% of total use. This is followed by gross fixed capital formation (22%) and government expenditure (19%). Exports of products and services account for 32% of GDP, whereas imports account for 33%, resulting in a net loss of 1% of total GDP from the trade balance. The remaining 2% is accounted for by non-profit organizations that provide services to households' final consumption spend and investment in inventory.
A higher than expected figure should be seen as positive (bullish) for the CAD while a lower than expected figure should be seen as negative (bearish) for the CAD.
Forex Sentiment (CAD)
| Symbol | Community Trend (Shorts vs Longs) | Symbol Popularity | Avg. Short Price / Distance From Price | Avg. Long Price / Distance From Price | Current Price | |
|---|---|---|---|---|---|---|
| USDCAD |
|
|
1.3733 -224 pips |
1.3878 +79 pips |
1.39570 | |
| AUDCAD |
|
|
0.9074 -31 pips |
0.9149 -44 pips |
0.91054 | |
| CADJPY |
|
|
106.8486 -424 pips |
111.5118 -42 pips |
111.093 | |
| EURCAD |
|
|
1.4661 -148 pips |
1.4907 -98 pips |
1.48088 | |
| GBPCAD |
|
|
1.7490 -288 pips |
1.7871 -93 pips |
1.77783 | |
| NZDCAD |
|
|
0.8258 -8 pips |
0.8343 -77 pips |
0.82658 | |
| CADCHF |
|
|
0.6273 -55 pips |
0.6572 -244 pips |
0.63275 |
News (CAD)
Bank Of Canada Slashes Interest Rates By 50 Basis Points
Following three straight quarter point interest rate cuts, the Bank of Canada on Wednesday announced its widely expected decision to slash rates by a half point. The Bank of Canada said it decided to reduce its target for the overnight rate by 50 basis points to 3.75 percent, with the Bank Rate at 4 percent and the deposit rate at 3.75 percent.
RTTNews | 20 days ago
Bank Of Canada Cuts Interest Rates By Quarter Point For Third Straight Meeting
For the third straight meeting, the Bank of Canada on Wednesday announced that is decided to lower interest rates by another quarter point. The Bank of Canada announced its widely expected decision to reduce its target for the overnight rate by 25 basis points to 4.25 percent, with the Bank Rate at 4.50 percent and the deposit rate at 4.25 percent.
RTTNews | 69 days ago
Bank Of Canada Lowers Interest Rates By Another Quarter Point
In a widely expected move, the Bank of Canada on Wednesday announced its decision to lower interest rates by another quarter point. The Bank of Canada said it has reduced its target for the overnight rate by 25 basis points to 4.5 percent, with the bank rate at 4.75 percent and the deposit rate at 4.5 percent.
RTTNews | 111 days ago
