Timing & trends
Produced by McIver Wealth Management Consulting Group
Mark Jasayko, CFA,MBA, Portfolio Manager with McIver Wealth Management of Richardson GMP in Vancouver.
About four years ago we shared with our clients these nine reasons to support our belief the dollar had entered a multi-year bull market back in March 2008. It may be the third dollar bull market cycle since the major currencies began to float against one another after President Nixon shut the gold window.
Canada’s economy shifted into lower gear in the second quarter and the economy contracted in the month of June for the first time in six months, partly affected by a Quebec construction strike and flooding in Alberta.
Gross domestic product grew by 1.7 per cent, annualized, in the quarter, Statistics Canada said on Friday, slowing from 2.2 per cent growth in the second quarter. Statscan revised down the second-quarter number from 2.5 per cent initially.
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
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