08:20 AM EDT, 09/27/2024 (MT Newswires) -- Canada releases estimates for July gross domestic prodcut and flash August GDP at 8:30 a.m. ET Friday, said Scotiabank.

The bank estimated 0.2% month-over-month seasonally adjusted growth, while consensus is at 0.1%. Statistics Canada had guided "essentially unchanged" on Aug. 30 which usually means -0.1% month over month to +0.1%.

Data since then has been more upbeat, stated Scotiabank. Details may also matter including breadth by controlling for energy/mining activity.

Canadian fixed-income markets then get an early close Friday at 1 p.m. ET ahead of Monday's National Day for Truth and Conciliation. Stocks don't, nor does anyone else, pointed out the bank.

There are 11 early bond market closes each year in what amounts to a global oddity and lost business, added Scotiabank.