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Friday, March 29, 2024

Not “Unequivocally Good” – Canada Enters Recession

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

It appears low oil prices are not awesome for everyone. For the second quarter in a row, Canadian GDP dropped (-0.5%) pushing America’s northern neighbor back into recession. What is ironic is that this was better than the 1% drop that was expected and so CAD is strengthening.

and the kneejerk is a strengthening of CAD against the USD as the drop was less than expected…

Charts: Bloomberg

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