The US Dollar appreciated against the Canadian Dollar, following the Canadian GDP data release on Tuesday at 12:30 GMT. The USD/CAD exchange currency rate gained 14 pips or 0.11% right after the release. The Greenback continued trading at the 1.3286 level against the Canadian Dollar.
Statistics Canada released the Canadian GDP data, which came out worse-than-expected of 0.0% compared to the forecast of 0.1%.
According to the official release: "Following four months of growth, real gross domestic product was essentially unchanged in July as a decline in goods-producing industries was offset by an increase in services-producing industries. Goods-producing industries were down 0.7% in July as output from all subsectors declined, with the exception of utilities. Services-producing industries were up for the fifth consecutive month, rising 0.3% as the majority of subsectors grew. On a three-month rolling average basis, real gross domestic product increased 0.8%, the same growth rate as in June."
| Date | 31.05.19 | 28.06.19 | 31.07.19 | 30.08.19 | 01.10.19 |
|---|---|---|---|---|---|
| Actual | 0.5% | 0.3% | 0.2% | 0.2% | 0.0% |
| Forecast | 0.4% | 0.2% | 0.1% | 0.1% | 0.1% |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.8887 | 0.88916 | 0.05% |
| CAD/CHF | 0.75409 | 0.75351 | -0.08% |
| EUR/CAD | 1.44657 | 1.44743 | 0.06% |
| USD/CAD | 1.32769 | 1.32874 | 0.08% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 61.2% | 38.8% |
| CAD/CHF | 74.0% | 26.0% |
| EUR/CAD | 70.4% | 29.6% |
| USD/CAD | 45.9% | 54.1% |
| GMT | Currency | Event | Forecast | Previous |
|---|---|---|---|---|
| 8:30 | GBP | Markit Construction PMI | 45.9 | 45.0 |
| 12:15 | USD | ADP Non-Farm Employment Change | 140K | 195K |
| 14:30 | USD | Crude Oil Inventories | - | 2.4M |