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
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