Last week ended with reports on economic growth in the US and Canada.
The greenback-loonie pair dynamics clearly shows data from what country investors favored the most. The Canadian dollar has been confidently gaining ground as the pair neared two-year lows. Besides GDP data, the Canadian currency was supported by rising crude prices.
Analysts had projected higher growth rates, but the actual statistics turned out to be even stronger. In May, Canada’s economy expanded by 4.6 percent.
At the same time, the US economy also showed a higher growth rate, but investors considered the data inconclusive. The US gross domestic product grew by 2.6 percent in the second quarter. The previous reading was revised downwards to 1.2 percent from 1.4 percent reported initially after three estimates.
Weak growth in the US employment cost index creates more uncertainty about the stability of the US economy. The index registered a slowdown to 0.5% in the second quarter. This is a direct hint at the forthcoming slowdown in the consumer inflation. On the back of low inflation, the Fed is unlikely to decide to raise its key interest rate.
So, the US dollar index headed towards recent lows, where it closed the trading session. The US dollar will most likely continue weakening next week.
Stay tuned to the InstaForex TV channel to find out if it is true.
Cult Film Collective and the Trylon team-up for a can’t miss for film fans Pedro Almodóvar 35mm Double Feature. [TIX] First Ave is insane this week, including the annual Rebel Rebel: Rock for Pussy David Bowie covers benefit for Feline… Continue Reading →
Quick Q+A: George McConnell + SUPERHERO.
As Captain America says in the under-appreciated Age of Ultron, “We have an enhanced in the field.” Not just the field, Cap. Everywhere you look these days Superheroes are flying or speeding or stretching by—in our films, in our art,… Continue Reading →
Whiz Bang Days Celebration.
Bird Town (as we know it) aka Robbinsdale (as you maybe know it) has a proud history of wrasslin’, so we shouldn’t be so surprised to see the high flyin’ brawlers and knuckle sandwich makers and #1 heel Darin Corbin… Continue Reading →
Sat // The Beer & Bacon Classic.
Previous beer fest experiences (and there have been many) indicate the snacklace is reaching an all-time high in sophistication—but you’ll want to leave it at home for this one. Consider it research for your next creation: the Bacon and Beer… Continue Reading →
Bell Museum Grand Opening.
The Bell Museum celebrates nearly 150 years of existence, 50 years of active learning programs, and 24 feet of woolly mammoth at its grand opening this weekend, which welcomes the public to experience its beautifully grandiose new digs in St…. Continue Reading →
Lumières Françaises + Bastile Day.
Did the MSP Film Society know France would be on the cusp of a World Cup win when they planned their week of independent French film? DID THEY? The smarties actually likely scheduled Lumières Françaises to coincide with Sat’s Bastille… Continue Reading →
Weds // TV Girl + Infinity Crush + Cheap Fantasy.
“Here in New York you don’t need excuses to dress like a girl.” The effortless hipster cool of TV Girl’s sound mixes a sunny produced pop, throwback to ’60s French yé-yé, with more relaxed late night beats and samples, making them… Continue Reading →
Thurs // The Summit Ratskeller’s Grand Reopening.