Revised U.S. GDP today
Negotiations are underway further to Sunday’s elections in Spain. Both traditional parties lost a great deal of ground in favour of new anti-austerity formations and Mariano Rajoy of the Popular Party will have to forge alliances to create the next government.
Since the European Central Bank (ECB) meeting held on December 3, credit spreads have been widening for eurozone nations. Disappointment related to the lack of firmer action from the ECB combined with tightening monetary policy in the United States and the political situation in Spain are pointing to a difficult 2016 in Europe. The recent strength of the euro could also hurt the manufacturing sector on the Old Continent.
While we await tomorrow’s Canadian GDP figures, we will be keeping an eye on the third and final revision of U.S. Q3 2015 GDP. As we go to press, the loonie is rising against the greenback but stable against the euro. Crude oil is up slightly this morning. Have a great day! Emmanuel Tessier-Fleury
To read the entire report Please click on the pdf File Below