Canadian economy expanded at a stronger pace than expected in November. USD/CAD continues to push lower after the strong data. Canada’s Real Gross Domestic Product (GDP) expanded by 0.7% in November to mark its seventh straight monthly expansion, the data published by Statistics Canada showed on Friday. This reading came in higher than the market expectation of 0.4%. Key takeaways “Total economic activity was about 3% below the pre-pandemic level in February.” “Preliminary information indicates an approximate 0.3% increase in real GDP for December.” “Following a 0.5% contraction in October, the manufacturing sector grew 1.7% in November.” Market reaction The USD/CAD edged lower after the upbeat GDP report and was last seen losing 0.5% on the day at 1.2763. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Personal Income rises 0.6% in December, Personal Spending declines 0.2% FX Street 1 year Canadian economy expanded at a stronger pace than expected in November. USD/CAD continues to push lower after the strong data. Canada's Real Gross Domestic Product (GDP) expanded by 0.7% in November to mark its seventh straight monthly expansion, the data published by Statistics Canada showed on Friday. This reading came in higher than the market expectation of 0.4%. Key takeaways "Total economic activity was about 3% below the pre-pandemic level in February." "Preliminary information indicates an approximate 0.3% increase in real GDP for December." "Following a 0.5% contraction in October, the manufacturing sector grew 1.7% in November." Market reaction The… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
