Skip to main content

USD/CAD edges back touch 1.36 after US GDP revised above estimates

The latest revision to US Q3 GDP was released a little earlier and it was above forecasts. US Q3 GDP rose by 5.2% against a prior estimate of 4.9%. This news was not ignored by the dollar, but in reality it could have reacted more than it has in a positive way so far. That said, USD/CAD did rebound from an earlier session low at 1.3541. It reached exactly 1.3600 following that data. The US dollar had closed last night at 1.3574. The rebound in the USD/CAD is similar to reactions elsewhere. The one to mention once more in that regard is the EUR/USD, which has now exactly nailed to the pip the noted 1.0965 support and subsequently rebound somewhat. The USD/CAD is just now trading at 1.3597
 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!