The US Dollar depreciated against the Canadian Dollar, following the Canadian GDP data release on Friday at 12:30 GMT. The USD/CAD exchange currency rate lost 22 pips or 0.17% after the release. The Greenback continued trading at the 1.3330 level against the Loonie after the release.
Statistics Canada released the Canadian GDP data, which came out better-than-expected of 1.2% compared with the forecast of 0.9%.
According to the official release: "Real gross domestic product (GDP) grew 1.2% in August, following a 3.1% increase in July. This fourth consecutive monthly increase continued to offset the steepest drops on record in Canadian economic activity observed in March and April, however overall economic activity was still about 5% below February's pre-pandemic level."
| Date | 30.06.20 | 31.07.20 | 28.08.20 | 30.09.20 | 30.10.20 |
|---|---|---|---|---|---|
| Actual | -11.6% | 4.5% | 6.5% | 3.0% | 1.2% |
| Forecast | -12.5% | 3.5% | 5.2% | 2.9% | 0.9% |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.93742 | 0.93954 | 0.23% |
| CAD/CHF | 0.68842 | 0.68829 | -0.02% |
| EUR/CAD | 1.55405 | 1.55478 | 0.05% |
| USD/CAD | 1.33106 | 1.32917 | -0.14% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 47.2% | 52.8% |
| CAD/CHF | 70.3% | 29.7% |
| EUR/CAD | 26.7% | 73.4% |
| USD/CAD | 65.7% | 34.4% |
Economic calendar