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The Canadian economy is expected to expand by 5.6% in the first quarter of the year, a recent conducted Reuters poll showed on Friday.

Economists see the economy growing by 3.6%, 6% and 5.5% in the second, third and fourth quarters, respectively.

The publication further revealed that 16 out of 21 economists think that the  new COVID-19 wave and  tighter curbs will not derail the Canadian economic recovery.

Market reaction

The USD/CAD pair edged lower after this headline and was last seen losing 0.35% on a daily basis at 1.2498.