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USD/CAD takes a hit as Canadian Q4 GDP revision beats forecasts

Another data release this afternoon was from Canada. The latest estimate of Canadian Q4 annualised GDP was expected to show the economy advancing by 0.8%. Well, it has actually beaten estimates, by rising 1% over that period. This upward revision has come set against a downside reading for December. Now that is conflicting, but it seems the markets have accentuated the positive from the quarterly numbers and that has helped the USD/CAD to immediately fall back. The USD/CAD was trading close to 1.36 ahead of the release. It has just now dropped to a session low at 1.3565. 

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