Canadian GDP rises 0.3% m/m - USD/CAD plunges

Statistics Canada's Survey of Employment, Payrolls, and Hours on Wednesday showed wage growth accelerating to 2.7 per cent year-over-year in June, the fastest pace since December 2015.

Trump hailed the GDP report during an appearance in Springfield, Missouri, as he pushed for his tax reform plan, saying "we're really on our way".

Today's figures have raised expectations that the country's central bank will hike interest rates again by October.

President Donald Trump has promised to grow the GDP to 3% and higher, but economists have doubted this could actually happen due to an "ageing [sic] population and poor productivity growth".

Bangladesh lose three wickets in quick succession against Australia
David Warner was the only batsman in the Australian lineup who stood between Bangladesh and their maiden Test win over Australia . Taijul got Peter Handscomb (15), forcing him to edge to slip where Soumya Sarkar completed a tough catch in a second attempt.

Investment by businesses also improved to growth of 6.9 percent, reflecting higher spending on structures, equipment and intellectual property. Increasing household income on the back of healthy job gains aided in underpinning growth, and was enough to bring the household savings rate slightly to 4.6 percent from first quarter's 4.3 percent.

USA second-quarter growth was revised upward to the fastest pace in two years on stronger household spending and a bigger gain in business investment, putting the economy on a stronger track, Commerce Department data showed Wednesday. There is no reason that we could not manage. Thus, the right way to think about these data is probably to average the first two quarters of the year. Inventories also rose, particularly in the manufacturing and trade sectors.

Even though the pace of growth is in line with the Trump administration's long-term goal of 3 percent, many analysts don't expect that rate to be maintained in the coming years or even in the coming months. And if that growth is better than expected led to a feeling more positive, economists at RDQ Economics, and maintain their estimate of potential growth " well below 2 % ".

At a speech last week in Jackson Hole, Wyoming, Yellen focused mostly on the continuing need for regulation, rather than the outlook for growth, but she did term the current economy "strong".

United States conducts missile test over Pacific
The military has conducted three tests in total, but during a test in June, the interceptor failed as a result of human error. Sailors aboard the destroyer USS John Paul Jones tracked it with radar and fired an interceptor missile to shoot it down.

As it turns out, GDP growth in the first half of 2017 averaged 2.1 percent, pretty much exactly the average over the course of this expansion, going all the way back almost a decade. Some are now saying that the devastation from Hurricane Harvey could shave about a half-percentage point off growth this quarter.

In fact, the underlying composition of activity in the spring in particular and first half of the year more generally is encouraging for the possibility of a pickup in growth going forward.

"Even as we see daylight in today's economy, we find ourselves in the shadow of daunting longer-term challenges to economic growth and shared prosperity", said John Williams, president of the Federal Reserve Bank of San Francisco, in an august 2 speech.

Taylor Swift Shares Third Cryptic Video, Showing Snake's Head!
The black-and-white image shows the singer staring into the camera as her name repeats in a series of pattern designs behind her. Taylor Swift fans have been awaiting this announcement for nearly three years, when she released her album "1989".

  • Ryan Wade