Real gross domestic product (GDP) expanded 0.4% in the second quarter, following 0.5% growth in the first quarter. On a monthly basis, real GDP by industry declined 0.5% in June.

The Canadian Dollar dropped on the print but has since come back to unchanged and is holding steady despite the continued slowing of real Canadian GDP.

Drew Zimmerman

Investment & Commodities/Futures Advisor

 604-664-2842 – Direct

604 664 2900 – Main

604 664 2666 – Fax

800 810 7022 – Toll Free

dzimmerman@pifinancial.com

Emerging-market stocks rose as oil slumped on easing prospects for an imminent military attack on Syria. Indonesia’s rupiah gained after a surprise interest-rate increase, while India’s rupee jumped the most since 1986.

The MSCI Emerging Markets Index advanced 1.2 percent to 920.84, capping the biggest increase in about five weeks. Philippine stocks climbed from an eight-month low as economic growth exceeded estimates. The rupiah rebounded from a four-year low after Bank Indonesia raised its benchmark interest rate in an unscheduled move, while India’s rupee strengthened 3.4 percent. Mexico’s IPC index declined for a seventh consecutive day in the longest slide since January 2009.