Geopolitics is front and centre this morning. In Europe, the lack of apparent progress between Greece and its creditors is worrying investors once again, driving down the single currency. In the Middle East, discussions on a nuclear accord with Iran seem, on the other hand, to be nearing a conclusion. This has removed a bit of pressure on crude oil prices, which reached the $48 a barrel level this morning. The loonie has not appreciated, losing 0.5% against the greenback in the past few hours.
Today, the main economic indicator will come from Canada. At 8:30 a.m. we will have the release of GDP figures (January). The market is forecasting a drop of -0.2% compared to last December. This could therefore be a stumbling block for the CAD, which is having a hard time keeping the ground it had won against the USD last week.
