Canadian monthly GDP report for August was released today at 12:30 pm GMT. Report was expected to show a 0.1% MoM expansion of the Canadian economy, following a lack of growth (0.0% MoM) in July. However, actual data showed the Canadian economy stagnating and showing no growth (0.0% MoM) for another month in a row. CAD saw a negative reaction to the release with USDCAD moving higher in a knee-jerk move.
USDCAD gained after Canadian GDP release and continues to move higher towards the short-term trendline. Source: xStation5
BREAKING: Weak macro data from Germany 🚨Norwegian CPI rises
Morning wrap (09.01.2026)
Daily summary: exceptionally low US trade deficit; dollar remains strong 📌
NY Fed Survey: higher inflation expectations, but also higher equity price expectations 📄🔎