Canadian Q4 GDP

The Canadian Dollar has been weakening as every rally was battered by worse than expected economic news and given the recent disappointment out of Canada we may see another shoe to drop on Friday when Canada reports its Q4 GDP data.

While economists expect Q4 GDP to show a contraction of 0.3% for an annualized growth of 2.6%, I think we may be on the road to a disappointment which should result in yet another sell-off on the Canadian Dollar. I will be looking at the USDCAD on Friday.