There is some major intrigue around central bank decisions in December and the Bank of Canada will be one of the first ones off the starting blocks on December 11. At the moment, the market is leaning 70/30 in favour of 25 bps rather than 50 bps.
But that will swing based on today’s GDP data, which is due at the bottom of the hour. The consensus is +1.0% growth in a clear slowdown from 2.1% in Q2. Eyes will also be on the Sept monthly reading, which is expected at +0.3%.
Other than that, the economic calendar is bare for North American traders. US markets are open but it’s a de facto holiday so that should thin volumes but beware of month-end flows.
For what’s coming up next week, see the economic calendar.
