Canadian GDP Surprises – USD/CAD Falls

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Canadian GDP for the month of December rose by 0.5%, higher than 0.3% that was expected. This sets a nice close for Q4 2010 and for the whole year. The Canadian dollar drops below 0.9750 after this news.

Canada’s current account showed a deficit of 11 billion, higher than 9.4 that was predicted, but lower than last month’s 17 billion – a figure that was revised to the upside.

For more on the loonie, see the Canadian dollar forecast.

In the US, Personal Spending rose by only 0.2%. A rise of 0.5% was expectedץ Personal Income rose by 1%, higher than expected.

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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.