USD/CAD: Canadian GDP

The US Dollar depreciated against the Canadian Dollar, following the Canadian GDP data release on Wednesday at 12:30 GMT. The USD/CAD exchange currency rate lost 20 pips or 0.15% right after the release. The Greenback continued trading at the 1.3135 level against the Canadian Dollar.

Statistics Canada released the Canadian GDP data, which came out better-than-expected of 0.2% compared with the forecast of 0.1%.

According to the official release: "Real gross domestic product was up for a third consecutive month in May, rising 0.2%. The increase was led by a rebound in manufacturing with 13 out of 20 industrial sectors expanding. On a three-month rolling average basis, real gross domestic product increased 0.7%. Real gross domestic product was up for a third consecutive month in May, rising 0.2%. The increase was led by a rebound in manufacturing with 13 out of 20 industrial sectors expanding. On a three-month rolling average basis, real gross domestic product increased 0.7%."