Watch More: Dukascopy TV
The Canadian GDP report caused stronger fluctuations in the USD/CAD exchange rate. The Loonie fell against the US Dollar 0.07% or 9 base points to the 1.2270 level.
Canada's economy expanded by the greatest extent in six months in November amid broad-based activity in manufacturing and other sectors, keeping the Central Bank on track to hike rates again. Statistics Canada stated that the country's gross domestic product increased 0.4% after being flat in October. Growth in the extraction of gas and oil, as well as real estate and retail sector contributed to the strong result. A solid economic expansion is likely to prompt the Bank of Canada to raise rates again, with the most of the odds for the hike by May.
| Historical Data Table: Canadian GDP m/m | Economic Calendar for 01.02.2018 | ||||||||
| Date | 29.09.2017 | 31.10.2017 | 01.12.2017 | 22.12.2017 | 31.01.2018 | 1:30 PM | US Nonfarm Productivity | ||
| Actual | 0.0% | -0.1% | 0.2% | 0.0% | 0.4% | 1:30 PM | US Unit Labour Costs | ||
| Forecast | 0.1% | 0.1% | 0.1% | 0.2% | 0.4% | 3:00 PM | ISM Manufacturing PMI | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/CAD | 0.99546 | 0.99484 | -0.06% | AUD/CAD | 57.74% | 42.26% | |||
| CAD/CHF | 0.76129 | 0.76052 | -0.10% | CAD/CHF | 49.92% | 50.08% | |||
| EUR/CAD | 1.52983 | 1.52969 | -0.01% | EUR/CAD | 27.46% | 72.54% | |||
| USD/CAD | 1.22803 | 1.22712 | -0.07% | USD/CAD | 72.03% | 27.97% | |||