CAD: Focus on monthly GDP figures for March and Q1 growth - BBH

Research Team at BBH, suggests that Canada reports monthly GDP figures for March and Q1 growth and the Canadian economy likely contracted 0.1% in March as it did in February. 

Key Quotes

“However, because of the strong advance in January (0.6%), Q1 growth likely picked up from the 0.8% annualized pace in Q4 15.  The Canadian dollar is soft but shows little momentum presently.  The US dollar has gained about 4% against the Canadian dollar this month after falling in the February-April period.  The greenback is supported in front of CAD1.2980, and the CAD1.3180 area seen last week offers a nearby cap.”