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Canadian Economics Crashing

Canada Struggles to Find Benchmarks in Latest Quarter


Canadian Gross Domestic Product has sunk into negative territory, bringing to mind similar struggles last year. Facing economic doldrums, a dropping inflation rate may have the Bank of Canada opt to add more stimulus on the 7th of September. A rate cut is the likely move, but on the other hand, their biggest trading partner to the south is looking in the opposite direction.

The Last Week


On a relevant note, US Jobs seem to be losing their strength once again, with last week’s Nonfarm Payrolls barely beating expectations. The numbers came out at 151,000 - just 1,000 jobs above the Fed’s benchmark. The shaky data suggests that the central bank will keep its policy untouched as it prepares to meet on the 20th of September.

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The Upcoming Week


In the coming week, the European Central Bank convenes to announce its monetary policy. Markets could see more stimulus added, hinted ECB Official Benoit Coeure at the recent Jackson Hole Summit. A slow growth rate, stagflation and further headwinds arising from the Brexit vote are important enough for the ECB and its policymakers to make a move on the 8th of September.

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