The agency Statistics Canada released news this afternoon in line with what several analysts were expecting after yesterday’s CPI figures. Canadian GDP stagnated at 0% growth for the past month, but was optimistically above the forecast contraction of 0.1% and therefore acted as a general buy signal for investors.
Wednesday’s nominal and core CPI data signaled growth across consumer prices that hinted at a rise in economic output. Today’s GDP reflected the reality of this growth. So far the Canadian dollar (CAD) is on a bull run amid this positive news, and looks to continue gaining so long as the rest of the world fidgets with angst amid Greece concerns and an uncertainty about risk appetite.