Brexit has now officially been triggered and the British have until March 29, 2019 to find common ground with the European Union. Negotiations are likely to be rocky and it will be interesting to see the impact they have on the various elections to be held in Europe in 2017. In other international news, the White House has announced that Chinese President Xi Jinping will be visiting President Trump’s Florida home on April 6 and 7.
In economic news, today, we’ll be keeping an eye on the final revision of U.S. GDP data for Q4 2016, data on Canadian industrial production and U.S. Initial Jobless Claims. Tomorrow morning, Canadian GDP data for January will be announced.
The Canadian dollar had an excellent day yesterday, with WTI oil up 2% after the release of weaker-than-expected inventory levels. Both WTI and the loonie are stable this morning while futures are pointing to a slightly bearish opening for North American stock markets.
