Canadian GDP data due out on Wednesday, September 30, holds little consequence for the loonie. Instead, broad USD variation and risk sentiment are the key drivers. 1.3420 is key resistance that opens the 1.3530 200-DMA on a breach, per TD Securities. Key quotes “TD looks for industry-level GDP to rise by 2.5% in July, below StatCan estimates for a 3.0% advance. This follows a stronger than expected performance in May/June and if realized would leave economic activity 6.5% below levels from February.” “Unless the GDP report produces a tail-risk like print, the CAD is going to remain almost exclusively driven by broad USD variation and risk sentiment.” “Last week, we turned bullish on USD/CAD. We hold this bias still – albeit to a more modest degree – following a decent leg higher. Still, we think the 1.3420 double-top in USD/CAD is prone to breach, leaving the 200-DMA at the 1.3530 level as a reassessment point for USD/CAD longs.” 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 EUR/GBP Price Analysis: Refreshes session low, downside seems limited FX Street 2 years Canadian GDP data due out on Wednesday, September 30, holds little consequence for the loonie. Instead, broad USD variation and risk sentiment are the key drivers. 1.3420 is key resistance that opens the 1.3530 200-DMA on a breach, per TD Securities. Key quotes “TD looks for industry-level GDP to rise by 2.5% in July, below StatCan estimates for a 3.0% advance. This follows a stronger than expected performance in May/June and if realized would leave economic activity 6.5% below levels from February.” “Unless the GDP report produces a tail-risk like print, the CAD is going to remain almost exclusively driven… 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.