Bank of Canada

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Week Ahead – Big week for Chinese data with GDP in focus

Posted on April 8, 2016 at 12:36 pm GMT

Looking ahead to the coming week, data out of China dominates the economic calendar with key indicators such as GDP and trade. US and UK inflation will also be watched closely but policy meetings by the Bank of England and the Bank of Canada are unlikely to be market movers. All eyes on China GDP Chinese inflation data will start the week on Monday. Annual CPI is forecast to head higher for a fourth straight month to increase to 2.5% [..]

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Week Ahead – Focus turns to ECB, BoC and RBNZ rate decisions, China data

Posted on March 4, 2016 at 12:54 pm GMT

Monetary policy will take centre stage next week as the European Central Bank, the Bank of Canada and the Reserve Bank of New Zealand meet for their latest policy decisions. The US will take a back seat with no major data to report but China will attract attention for some key data releases. The first data to come out of China next week are the closely watched trade numbers on Tuesday, which continue to grab markets’ attention as investors look [..]

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Canadian GDP posts surprise growth in Q4; loonie rises to 3-month high

Posted on March 1, 2016 at 3:47 pm GMT

Canada’s economy posted surprise growth in the final three months of 2015, expanding by 0.2% quarter-on-quarter and beating estimates of zero growth. This still represents a slowdown from the previous quarter though, when GDP rose by an upwardly revised 0.6% rate. On an annual basis, GDP was up by just 0.5% due to the two consecutive quarters of negative growth reported in the first half of 2015.  Canada’s economy has been struggling since 2015, mainly as a result of the [..]

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European Session – Loonie jumps after BoC keeps rates on hold; dollar pares gains on weak inflation

Posted on January 20, 2016 at 3:48 pm GMT

European equity markets opened sharply lower on Wednesday as oil continued to spiral downwards. London’s FTSE100 and the Frankfurt Dax fell by around 3% when trading opened but rebounded slightly as oil prices started to stabilize. US crude futures moved away from a new 12-year low set earlier in the day to rise to $28.90 a barrel in afternoon European trade. The euro had climbed as high as 1.0975 dollars in early European session on increased risk-off sentiment but later [..]

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Week Ahead – Busy week for China, Eurozone and UK data; ECB and Bank of Canada meetings also eyed

Posted on January 15, 2016 at 11:43 am GMT

Economic data will be getting into full swing next week with a number of key releases for China, the United States, the Eurozone and Britain. Central banks will also be in focus as the ECB meets for the first time since December when it underwhelmed markets with its policy decision, while the Bank of Canada could cut interest rates for the first time since July 2015. The week will initially get off to a quiet start as US markets will [..]

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European Session – Loonie falls on oil price drop and BoC decision; dollar tests 120 yen

Posted on October 21, 2015 at 2:16 pm GMT

With the absence of any major data releases today, a drop in oil prices and anticipation ahead of tomorrow’s ECB meeting were the main currency drivers in today’s European session. Crude oil prices extended their losses for a third day after the American Petroleum Institute report showed US commercial crude stocks rising by more than expected in the week to October 16. More data on US oil inventories is released later today from the US Energy Information Administration, which is [..]

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Loonie in focus after Liberals election win and upcoming Bank of Canada meeting

Posted on October 20, 2015 at 10:23 am GMT

The centre-left Liberal party, led by Justin Trudeau, won the general election in Canada on Monday, ending the Conservative’s nine-year run in power. Although the Liberals had been leading in the polls, they were not expected to win a majority. With the counting now over, the Liberals have won 184 seats, compared to the Conservative’s 99 seats. The New Democratic party has shrunk to just 44 seats, dropping to third place. The size of the win means the Liberals have [..]

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Week Ahead – Markets await China GDP, ECB meeting and flash PMI data

Posted on October 16, 2015 at 10:28 am GMT

Following a week of key indicators that on balance favored a US and UK rate hike, it will be the turn of the euro to come into sharp focus as the ECB meets to consider whether further monetary easing is necessary for the Eurozone. Before that though, investors will be on edge for key data coming out of China at the start of the week. Monday will see the release of third quarter GDP data for China, which is expected [..]

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