Monthly Canadian GDP numbers due up next
August Canadian GDP is due at the bottom of the hour. The consensus is for 0.1% m/m growth and a healthy 3.6% y/y. That’s down a shade from 3.8% in July.
USD/CAD has been volatile lately and the latest growth number could add another dollop. Estimates range from -0.2% m/m to +0.2% m/m.
The implied probability of a Dec BOC rate hike has fallen to about 24%.
At the same time as the release, numbers on the Sept industrial product price and the Q3 US employment cost index are out.