The economy of Canada grew by 0.2% in the month of June – the last of Q2 2012. Early expectations were for a gain of 0.1%. For the whole of Q2, the pace was 1.8% (annualized). This was also better than 1.6% that was expected. On the year over year level, the output in Q2 was 2.4% higher than in Q2 2011., exceeding expectations of 2.2%. USD/CAD dipped under the important 0.99 line prior to the release and is now at around 0.9880. Support is found at 0.9840. USD CAD Falling on Strong Canadian GDP – Click image to enlarge All eyes remain on Jackson Hole, where Ben Bernanke will begin talking at 14:00 GMT. Expectations have risen towards the event once again, as the dollar is weakening across the board. Earlier in the week, expectations became more caution. In the current situation, Bernanke can rock the boat both ways. For USD/CAD, hints about QE3 could send USD/CAD below the all-important support line of 0.9840. A disappointment could send it to challenge 0.99 once again. For more on the loonie, see the Canadian dollar forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Markets await Bernanke’s cue at Jackson Hole Guest 9 years The economy of Canada grew by 0.2% in the month of June - the last of Q2 2012. Early expectations were for a gain of 0.1%. For the whole of Q2, the pace was 1.8% (annualized). This was also better than 1.6% that was expected. On the year over year level, the output in Q2 was 2.4% higher than in Q2 2011., exceeding expectations of 2.2%. USD/CAD dipped under the important 0.99 line prior to the release and is now at around 0.9880. Support is found at 0.9840. [caption id="attachment_37563" align="alignnone" width="610"] USD CAD Falling on Strong Canadian GDP -… Top 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.
