USD/CAD: Canadian GDP

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 30 pips or 0.23% right after the release. The Greenback continued trading at the 1.3255 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%. Note, that the US Personal Spending data was published at the same time.

According to the official release: "Real gross domestic product was up for the fourth consecutive month in June, rising 0.2%. Growth in 17 of 20 industrial sectors more than compensated for a decline in manufacturing. Goods-producing industries declined 0.2% as a result of lower manufacturing, largely offsetting the growth in May. Services-producing industries were up 0.3%."