The Canadian Dollar traded sideways the US Dollar, following the Canadian GDP data release on Friday at 12:30 GMT. The USD/CAD exchange currency rate gained 8 pips or 0.06% after the release. The Loonie continued trading at the 1.3410 level against the Greenback after the release.
Statistics Canada released the Canadian GDP data, which came out better-than-expected of 4.5% compared with the forecast of 3.5%.
According to the official release: "In May, provinces and territories started reopening sectors of their economies to varying degrees. While May's gains offset some of the March and April declines, economic activity remained 15% below February's pre-pandemic level."
| Date | 31.03.20 | 30.04.20 | 29.05.20 | 30.06.20 | 31.07.20 |
|---|---|---|---|---|---|
| Actual | 0.1% | 0.0% | -7.2% | -11.6% | 4.5% |
| Forecast | 0.1% | 0.2% | -9.0% | -12.5% | 3.5% |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.96444 | 0.96433 | -0.01% |
| CAD/CHF | 0.67749 | 0.6775 | 0.00% |
| EUR/CAD | 1.59009 | 1.58986 | -0.01% |
| USD/CAD | 1.34206 | 1.34264 | 0.04% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 25.1% | 74.9% |
| CAD/CHF | 70.3% | 29.7% |
| EUR/CAD | 29.4% | 70.6% |
| USD/CAD | 53.2% | 46.8% |
Economic calendar