The US Dollar traded sideways against the Canadian Dollar, following the Canadian GDP data release on Tuesday at 12:30 GMT. The USD/CAD exchange currency rate gained 2 pips or 0.01% after the release. The Greenback continued trading at the 1.3690 level against the Canadian Dollar after the release.
Statistics Canada released the Canadian GDP, which came out better-than-expected of negative 11.6% compared with the forecast of negative 12.5%.
According to the official release: "Real gross domestic product (GDP) dropped 11.6% in April, following a 7.5% decline in March. April marked the first full month of measures put in place to slow the spread of COVID-19. All 20 industrial sectors of the Canadian economy were down, producing the largest monthly decline since the series started in 1961. The economy was 18.2% below its February level, the month before the COVID-19 measures began."
| Date | 28.02.20 | 31.03.20 | 30.04.20 | 29.05.20 | 30.06.20 |
|---|---|---|---|---|---|
| Actual | 0.3% | 0.1% | 0.0% | -7.2% | -11.6% |
| Forecast | 0.1% | 0.1% | 0.2% | -9.0% | -12.5% |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.93736 | 0.93742 | 0.01% |
| CAD/CHF | 0.6945 | 0.69445 | -0.01% |
| EUR/CAD | 1.53265 | 1.53338 | 0.05% |
| USD/CAD | 1.36866 | 1.36872 | 0.00% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 27.4% | 72.6% |
| CAD/CHF | 61.8% | 38.2% |
| EUR/CAD | 39.2% | 60.8% |
| USD/CAD | 35.9% | 64.1% |
Economic calendar