Canadian Event Risk Picks Up With GDP On Deck

The Canadian economic calendar remains bare of potentially market-moving economic releases. The listless fundamentals add to uncertainty about the direction of interest rates in advance of the Canadian central bank meeting on June 10. Data on Canadian factory prices reflected the effect of the recent strength of the Canadian currency - the Industrial Product Price Index for May declined after six successive months of increases. A government report slated for release tomorrow is expected to indicate that the GDP growth rate is expected to drop from 0.3 percent in April to 0.2 percent in May.

Next 24 Hours[/B]:

[B]-Gross Domestic Product /B (APR)
[B] Expected[/B]: 0.3%
[B] Previous[/B]: 0.3%
[B]Last 24 Hours[/B]:
-[B]Industrial Product Price[/B] (MoM) (MAY)
[B] Actual[/B]: -0.5%
[B] Previous[/B]: 0.2%
-[B]Raw Materials Price Index[/B] (MoM) (MAY)
[B] Actual[/B]: -0.2%
[B] Previous[/B]: 3.3%
[I]See Daily FX Weekly Calendar for more details[/I]