There was some reaction to the fall in the price of the Canadian dollar (e.g. here and here). According to the information transfer model, forex markets are basically highly volatile relative NGDP futures markets (even though they might not know it). This means we might expect a big fall  in Canada's NGDP when Q4 2015 and Q1 2016 data come out ...
Update 1 December 2016
Turns out to have been a good forecast.
 Or a big rise in US NGDP, but that seems questionable.
Or if neither, markets are wrong and the Loonie/Dollar exchange rate will go up soon. Will be an interesting story to follow. Jason, where do you get the NGDP data from? In my limited searches it has always been presented as real GDP, taking into account inflation.ReplyDelete
Yes; it's important to point out the market could be wrong.Delete
On FRED, it is
Current Price Gross Domestic Product in Canada
Although that doesn't update as quickly as I would like (last June is the last data point), so I go to Canada's statistics for the latest data points
There's also a factor of 4 difference between SAAR and SA for quarterly data.Delete