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Canada: GDP contracted 0.2% MoM in December

The Canadian economic activity contracted 0.2% on a monthly basis during December, and posted an annualized expansion of 0.6% during the fourth quarter.

Bersani rejects coalition with center-right

The Italian center-left Democratic Party leader Pier Luigi Bersani said in an interview for the newspaper La Repubblica that he would not form a coalition government with Berlusconi’s center-right, after the inconclusive elections held last weekend.
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Forex: USD/CAD retreats after Canadian GDP

The Canadian dollar strengthened and dragged USD/CAD back from highs after data showed Canadian GDP grew 0.6% in Q4 2012, in line with market expectations, while the previous reading was upwardly revised to 0.7% from 0.6%.
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