CAD: GDP growth and retail sales in focus this week – RBS

By FXStreet FXStreet (Delhi) – Brian Daingerfield, FX Trading Strategist at RBS, suggests that the release of October monthly GDP growth and retail sales data will be the focus of this week.

Key Quotes

“On December 23rd, Canada releases October monthly GDP growth and retail sales. To be sure, the further decline in energy prices should keep pressure on business investment in Canada in 2016. But the monthly GDP figure for October may actually show a gain in the “mining and quarrying” category, including oil extraction activity, as unplanned shutdowns in September accounted for a large part of the 0.5% m/m plunge in monthly GDP growth. A reversal of those shutdowns may have supported activity in October.”
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Source:: FX Street