- Canada's real GDP dropped 11.6% in April, its biggest monthly decline since the data series started in 1961.
- The figure illustrates the impact of the first full month of measures that were put in place to mitigate the spread of COVID-19; the April decline follows a 7.5% fall in March.
- Preliminary information indicates ~3.0% increase in real GDP for May as output across several sectors, including manufacturing, retail, wholesale and public sector, increased in May with the gradual resumption of activity.
- Invesco CurrencyShares Canadian Dollar Trust ETF (NYSEARCA:FXC) rises 0.2%, after opening trading essentially flat.
- In April, manufacturing sank 22.5% with all subsectors contracting.
- FXC's price and volume over the past six months:
- ETFs: EWC, FXC, BBCA, FCAN, HEWC, ZCAN, FLCA
- Previously: Bank of Canada's Macklem: Don't expect initial economic boost to last (June 22)