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The Greenback weakened against the Canadian Dollar, following the Canadian GDP data release on Friday. The USD/CAD currency pair lost 61 pips, or 0.46%, to continue fluctuating in the 1.3212 area.
The Statistics Canada released monthly Gross Domestic Product data that came out better-than-expected of 0.1%, but lower than the previous period.
According to Wisdom Iyagan, exotic pair analyst at Dukascopy, the move was already expected, and it could be observed on the Technical chart before. In addition, he stated: "...the currency exchange rate is likely to decline further south for a potential target at 1.3154 during the following trading session."
| Historical Data Table: Canadian GDP m/m | Economic Calendar for 29.06.2018 | ||||||||
| Date | 02.03.2018 | 29.03.2018 | 01.05.2018 | 31.05.2018 | 29.06.2018 | 1:45 PM | US Chicago PMI | ||
| Actual | 0.10% | -0.10% | 0.40% | 0.30% | 0.10% | 2:00 PM | US R. UoM Consum. Sentiment | ||
| Forecast | 0.10% | 0.10% | 0.30% | 0.20% | 0.00% | 2:30 PM | Canadian Business Outlook Survey | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/CAD | 0.97908 | 0.97586 | -0.33% | AUD/CAD | 62.73% | 37.27% | |||
| CAD/CHF | 0.74913 | 0.75091 | 0.24% | CAD/CHF | 63.04% | 36.96% | |||
| EUR/CAD | 1.54546 | 1.5406 | -0.31% | EUR/CAD | 26.47% | 73.53% | |||
| USD/CAD | 1.32334 | 1.32241 | -0.07% | USD/CAD | 25.77% | 74.23% | |||