TD Says Canadian Economy has Peaked

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Minggu, 12 Juni 2016

TD Says Canadian Economy has Peaked

It looks surprisingly strong series of Canadian economic data ends, if TD Securities is right, and that means one of the most ferocious rallies on record for the Canadian dollar is about to end too.

We may have spent "a tip optimistic point" on the Canadian economy, senior strategist exchange Mazen Issa wrote, after the release Wednesday of trade data for March in which the neighbor of America north recorded its biggest monthly deficit record. The exports tanked with acute weakness in shipments to the trade surplus of the United States to Canada with its main trading partner was reduced to levels not seen since before the North American Free Trade Agreement was signed .

"We are reluctant to infer too much from the monthly fluctuations of a set of very volatile data, but the ratio of international trade to Canada today provides a strong reminder that investors should stay cautious about underlying macro context of CAD, "wrote Issa in a note to clients.

wild rally Canadian dollar since mid-February was not entirely based on the price rise of oil. It is also firmly rooted in the best economic performance than expected in the nation. Issa noted that the value of the currency against the dollar has closely followed index of the nation economic surprise for the past year .

via Bloomberg

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