Canadian GDP fell 0.7% for the month of January, which doesn’t sound so scary by itself. Then you annualize it and realize it is a 8.4% decline…Ugh.
USD/CAD is range trading after yesterday’s rally lost steam overnight. 1.2500/1.2500 looks to be the near-term range.
Market scuttlebutt has a Canadian pension fund buying assets from an Australian bank. Details are here.
