A measure of Canada’s leading economic indicators was published this afternoon, with results causing some concern among investors who viewed the northern giant as a decent alternative to the riskier assets of Europe. Canada’s Leading Index revealed sluggish growth of only 0.2% this month, causing a reaction that appears to be pulling down slightly on the value of the Canadian dollar (CAD).
The report, released by Statistics Canada, is a combined reading of ten economic indicators related to employment, production, new orders, consumer confidence, housing, stock market prices, money supply, and interest rate spreads. Slowed growth in such sectors of Canada’s economy are an ominous sign of an impending sluggish third quarter.
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