Analysts at TD Securities are expecting Canada's GDP data release to reveal a 0.1% decline owing to a contraction in the goods-producing sector and a muted increase in services (market: 0.0%).

• "Softer retail and wholesale trade present a key headwind to the latter, although labour market inputs suggest that we should see a pickup in the sector. A 0.1% decline would leave Q4 tracking slightly below BoC estimates from October, although concerns over financial vulnerabilities should keep the Bank on the sidelines for the time-being."