Here’s a reason why USD/CAD has been so strong lately

A look at the economic surprise index

The economic surprise index from Citi is a favourite of mine because it shows how economies are performing relative to expectations.

The latest info shows a bit of a moderation lately with few countries at extremes. However Canada has suddenly begun to struggle and today’s GDP data underscored the challenges.

On the flipside, the US is humming right now and the Fed has noticed.

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