Details of the May 2015 Canada GDP data report 31 July 2015

  • Prior -0.1%
  • 0.5% vs 0.8% exp y/y. Prior 1.2%

Commodity and manufacturing did the damage this month. It was mining last month and that's not doing much better

That's puts Canada in the longest slump since the 2008/2009 recession. That's going to put pressure on the BOC for further rate cuts, and PM Stephen Harper who is on the verge of starting his general election campaign

The general USD bashing led USDCAD lower to 1.2993 but we're back to 1.3012

Canadian GDP m/m