Canadian July 2018 GDP and August price indices on 28.09.2018

  • GDP mom prior 0.0%
  • GDP yoy 2.4% vs 2.2% exp, prior 2.4%
  • August Raw material price index % vs -1.5% exp, prior 0.7%
  • RMPI yoy 15.5% vs prior 22%, revised to 22.2%
  • August industrial product price index mom -0.5% vs -0.3% exp, prior -0.2%
  • IPPI yoy 5.8% vs prior 6.6%, revised to 6.7%

A slight overshoot on the GDP helps CAD to retain a biddish tone. 1.2950/55 should be the nearest support on USDCAD.
These data should keep BOC expectations firmly up. Rather than strengthening against USD, the CAD may continue to gain vs the weakest such as EUR and CHF today.

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