Canada serves up an early-bird special
FX Trader, Loonieviews.net
Summary: USDCAD is in focus on the rocket-fuelled rally that followed StatsCan's early release of its latest GDP print.
The early bird gets the worm and today, it got the GDP scoop as well. Q4 GDP rose 0.4%, quarter-over-quarter, well below the 1.2% forecast and sharply lower than the 2.0%, q/q seen in November. Statistics Canada blamed lower oil prices and a 2.7% drop in investment spending for the weakness.
Today's Q4 GDP was expected to be weak, but this print ensures that the Bank of Canada will leave monetary unchanged at its March 6 meeting.
Wall Street is trading in positive territory, erasing all of yesterday’s losses. Prices were bolstered by the modestly positive risk-on sentiment seen in Asia and Europe.
“Get your motor runnin’, head out on the highway..." That’s what Elon Musk wants you to do, and he wants you to do it in a Tesla. And to make it more appealing, Tesla announced that the $35,000 Model 3 is available to purchase online, immediately. Tesla also said that prices of its other vehicles will drop about 6%. TSLA shareholders were not impressed and prices dropped 5.75% in early New York trading.
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Green transformation in China: renewable energy and beyondGoing green, China needs to span numerous energy sources to ensure stability, as every source comes with a challenge.
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FX: A Fed thaw needed to deliver a sustained USD turn lowerThe US Dollar can keep momentum when the Federal Reserve continues to tighten, leaving the rest to play to their drum.
Autumn can become ugly for equities and bond holders. Comfort for Dollar longsTechnical analysis suggests that equities could face a tough Q4 as could fixed income. US Dollar positions could provide some upside.
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