Canada GDP came below market expectations, USDCAD ticks higher:
- GDP (y/y): -0.2% vs 1.2% forecast and 3.1% previously
- GDP (m/m): -0.2% vs -0.2% forecast and 0.3% previously
The Canadian Dollar depreciated after the publication of the Canadian GDP report. At the same time, crucial data for the U.S. economy was released, indicating initial signs of labor market weakness—the unemployment rate rose to 3.8%.
source: xStation 5
Daily summary: A green start to the new trading week 📈
The Week Ahead
BREAKING: Producer Inflation in Germany lower than expected
Macro Calendar: Quiet Start to an Eventful Week
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