The loonie just exploded by 100 pips following a barrage of Canadian eco data, including GDP and employment, both of which crushed expectations.
September GDP rose 0.2% ,/ vs exp. 0.1%, and up from -0.1% in August, which means Q3 annualized GDP will be 1.7%.
But it was the jobs data which was particularly noteworthy; in fact it was borderline “Australian” in how ridiculous the print was: the employment rate in November was 79.5k, up from 35.3k last month, and 8 times higher than the consensus estimate. Not only was this the highest print since 2012, it was also a 14 sigma beat!
This post was published at Zero Hedge on Dec 1, 2017.