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The Canadian Dollar strengthened against the Greenback, following the Canadian GDP data release on Tuesday. The USD/CAD currency pair lost 29 pips, or 0.23%, to continue fluctuating in the 1.2836 area.
The Statistics Canada released Gross Domestic Product that came out better-than-expected of 0.4% for the month of February, which caused USD/CAD's currency pair to move downwards.
Canada's economy has got back on its feet from –0.1% in the previous period, where one of the main reasons for such a rebound was extraction in oil and gas.
| Historical Data Table: Canadian GDP | Economic Calendar for 01.05.2018 | ||||||||
| Date | 22.12.2017 | 31.01.2018 | 02.03.2018 | 29.03.2018 | 01.05.2018 | 2:00 PM | US ISM Manufacturing PMI | ||
| Actual | 0.00% | 0.40% | 0.10% | -0.10% | 0.40% | 10:45 PM | NZD Employment Change q/q | ||
| Forecast | 0.20% | 0.40% | 0.10% | 0.10% | 0.30% | 10:45 PM | NZD Unemployment Rate | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/CAD | 0.96671 | 0.96485 | -0.19% | AUD/CAD | 74.53% | 25.47% | |||
| CAD/CHF | 0.77209 | 0.77368 | 0.21% | CAD/CHF | 66.28% | 33.72% | |||
| EUR/CAD | 1.54876 | 1.54557 | -0.21% | EUR/CAD | 34.17% | 65.83% | |||
| USD/CAD | 1.28701 | 1.28406 | -0.23% | USD/CAD | 59.06% | 40.94% | |||