The S&P/TSX Index of the
Economists expect GDP to rise to 1.2% in June, which would translate into annualized growth of 2.7%. Year-on-year, the GDP is seen at 3% compared to 2.3% in last month. Meanwhile, crude oil prices have been higher on geopolitical concerns.
Crude oil for October delivery is currently up
Meanwhile, US President
Reports quoting radical Islamist group
Data on Tuesday showed orders for USmanufactured durable goods posted their biggest gain on record in July, while consumer confidence rose in August to its highest level since
The Canadian dollar rose to a 9-month high of 1.4381 against the euro and a 1-1/2-month high of 95.25 against the yen, from early lows of 1.4427 and 94.97, respectively. If the loonie extends its uptrend, it is likely to find resistance around the 1.42 against the euro and 96.00 against the yen.
Against the US dollar and the Australian dollar, the loonie advanced to an 8-day high of 1.0924 and a 5-day high of 1.0175 from early lows of 1.0955 and 1.0204, respectively. The loonie may test resistance near 1.08 against the greenback and 1.013 against the aussie.
Looking ahead, German import price index for July and GfK German consumer sentiment for September are due at
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