The US Dollar appreciated against the Canadian Dollar, following the Canadian GDP data release on Friday at 12:30 GMT. The USD/CAD exchange currency rate gained 24 pips or 0.18% right after the release. The Greenback continued trading at the 1.3530 level against the Canadian Dollar.
Statistics Canada released the Canadian GDP data, which came out better-than-expected of 0.5% compared with forecast of 0.4%.
According to the official release: "Growth in real GDP was driven by a 0.9% increase in household spending and an 8.7% rise in business investment in machinery and equipment. These increases were moderated by a 1.0% decline in exports, coupled with a 1.9% increase in imports. Additionally, investment in housing continued to decline, down 1.6% in the first quarter. Businesses accumulated $16.1 billion of non-farm inventories in the first quarter, pushing the economy-wide stock-to-sales ratio up from 0.838 in the fourth quarter of 2018 to 0.846. Accumulation of cannabis stocks largely contributed to the $1.7 billion increase in farm inventories."
| Date | 21.12.18 | 31.01.19 | 01.03.19 | 30.04.19 | 31.05.19 |
|---|---|---|---|---|---|
| Actual | 0.3% | -0.1% | -0.1% | -0.1% | 0.5% |
| Forecast | 0.2% | -0.1% | 0.0% | 0.1% | 0.4% |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.93653 | 0.93694 | 0.04% |
| CAD/CHF | 0.7427 | 0.74185 | -0.11% |
| EUR/CAD | 1.51099 | 1.51177 | 0.05% |
| USD/CAD | 1.35475 | 1.35561 | 0.06% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 72.0% | 28.0% |
| CAD/CHF | 70.8% | 29.2% |
| EUR/CAD | 52.1% | 48.0% |
| USD/CAD | 28.0% | 72.0% |
| GMT | Currency | Event | Forecast | Previous |
|---|---|---|---|---|
| 1:30 | AUD | Company Operating Profits q/q | 2.9% | 0.8% |
| 8:30 | GBP | Manufacturing PMI | 52.5 | 53.1 |
| 14:00 | USD | ISM Manufacturing PMI | 53.0 | 52.8 |