The US Dollar appreciated against the Canadian Dollar, following the Canadian GDP data release on Friday at 12:30 GMT. The USD/CAD exchange currency rate gained 20 pips or 0.14% after the release. The Greenback continued trading at the 1.3760 level against the Canadian Dollar after the release.
Statistics Canada released the Canadian GDP data, which came out better-than-expected of negative 7.2% compared with the forecast of negative 9.0%.
According to the official release: "Real gross domestic product (GDP) dropped 7.2% in March. After the World Health Organization declared COVID-19 a pandemic on March 11, all levels of government in Canada put measures in place to slow its spread. Measures such as mandatory closures of non-essential businesses, schools and public institutions, and travel restrictions and physical distancing, combined with the closure of Canada's international borders, affected all segments of the Canadian economy."
| Date | 31.01.20 | 28.02.20 | 31.03.20 | 30.04.20 | 29.05.20 |
|---|---|---|---|---|---|
| Actual | 0.1% | 0.3% | 0.1% | 0.0% | -7.2% |
| Forecast | 0.0% | 0.1% | 0.1% | 0.2% | -9.0% |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.91625 | 0.91599 | -0.03% |
| CAD/CHF | 0.70121 | 0.70009 | -0.16% |
| EUR/CAD | 1.53031 | 1.53133 | 0.07% |
| USD/CAD | 1.37343 | 1.37471 | 0.09% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 38.9% | 61.1% |
| CAD/CHF | 59.4% | 40.6% |
| EUR/CAD | 54.9% | 45.1% |
| USD/CAD | 41.9% | 58.1% |
Economic calendar