We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
More View more
Real Time News
  • US President Donald Trump spoke with Italian PM Giuseppe Conte about efforts to combat #coronavirus - BBG
  • Heads Up:🇯🇵 JPY Industrial Production (YoY) (FEB P) due at 23:50 GMT (15min), Actual: N/A Expected: -4.9% Previous: -2.3% https://www.dailyfx.com/economic-calendar#2020-03-30
  • Heads Up:🇯🇵 JPY Large Retailers' Sales (FEB) due at 23:50 GMT (15min), Actual: N/A Expected: -1.6% Previous: -1.4% https://www.dailyfx.com/economic-calendar#2020-03-30
  • Heads Up:🇯🇵 JPY Retail Trade (YoY) (FEB) due at 23:50 GMT (15min), Actual: N/A Expected: -1.5% Previous: -0.4% https://www.dailyfx.com/economic-calendar#2020-03-30
  • 🇯🇵 JPY Jobless Rate (FEB), Actual: 2.4% Expected: 2.4% Previous: 2.4% https://www.dailyfx.com/economic-calendar#2020-03-30
  • The Japanese Yen shared fully in the broad Dollar weakness which has come with global stimulus efforts. $USDJPY's medium-term downtrend looks quite comfortably in place. Get your USD/JPY market update from @DavidCottleFX here:https://t.co/5io7seTGyk https://t.co/bTmDlf5LLv
  • Heads Up:🇯🇵 JPY Jobless Rate (FEB) due at 23:30 GMT (15min), Actual: N/A Expected: 2.4% Previous: 2.4% https://www.dailyfx.com/economic-calendar#2020-03-30
  • 🇬🇧 GBP GfK Consumer Confidence (MAR), Actual: -9 Expected: -15 Previous: -7 https://www.dailyfx.com/economic-calendar#2020-03-30
  • Heads Up:🇬🇧 GBP GfK Consumer Confidence (MAR) due at 23:01 GMT (15min), Actual: N/A Expected: -15 Previous: -7 https://www.dailyfx.com/economic-calendar#2020-03-30
  • $EURUSD chart positioning hints the Euro may be running out of steam following a spirited recovery but sentiment studies continue to argue for the upside.Get your EUR/USD market update from @IlyaSpivak here:https://t.co/zp2oz1G2QZ https://t.co/YsxURDW4aT
CAD Weakens Despite Canada Economy Growing in July for a Fifth Month

CAD Weakens Despite Canada Economy Growing in July for a Fifth Month

2012-09-28 13:27:00
Tzu-Wen Chen, Technical Strategist
Share:

THE TAKEAWAY: Canadian economic growth expands in July for a fifth month > Stronger growth needed before rate hike likely > CAD weakens

The Canadian economy expanded in July for a fifth straight month, led by strength in manufacturing, utilities and wholesale and retail trade. Ottawa-based Statistics Canada reported today that economic growth picked up slightly in July, growing an inflation-adjusted 0.2 percent from a month ago after expanding a downwardly revised 0.1 percent in June. On a year-on-year basis, the Canadian economy grew 1.9 percent in July, slower than the 2.2 percent growth in June that was revised down from 2.4 percent originally reported. Economists surveyed by Bloomberg News had projected GDP growth of 0.1 percent month-on-month, and 2.0 percent from a year ago.

Bank of Canada Governor Mark Carney has said that he expects the Canadian economy to reach full output next year, and has continued to reiterate that an interest rate hike “may become appropriate” as the economy moves towards full output. However, recent data has shown a slowdown in the housing market, and construction and mining sectors, which dampen speculation for an interest rate hike in the near term.

USDCAD 1-minute Chart: September 28, 2012

CAD_Weakens_Despite_Canada_Economy_Growing_in_July_for_a_Fifth_Month____body_Picture_2.png, CAD Weakens Despite Canada Economy Growing in July for a Fifth Month

Chart created using Market Scope – Prepared by Tzu-Wen Chen

In the minutes following the release of the Canadian GDP report, the Canadian dollar weakened against the U.S. dollar. At the time of this report, the loonie had erased its initial decline, with the USDCAD pair trading at C$0.9807.

--- Written by Tzu-Wen Chen, DailyFX Research

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.