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
Bullish
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
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • $EURUSD Daily Pivot Points: S3: 1.1078 S2: 1.1152 S1: 1.1193 R1: 1.1267 R2: 1.13 R3: 1.1374 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Has the #Euro been saved? Find out from @CVecchioFX here: https://t.co/eiXfOTyGa6 https://t.co/MCdNLAjJpu
  • Has the ECB been saved? Find out from @CVecchioFX here: https://t.co/eiXfOTyGa6 https://t.co/Znozwxgcak
  • Texas COVID-19 cases increase at 2.4%, same as prior 7-day average - BBG
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.91% 🇳🇿NZD: 0.64% 🇨🇭CHF: 0.59% 🇬🇧GBP: 0.17% 🇨🇦CAD: -0.02% 🇯🇵JPY: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/j3MpbrNtG4
  • RT @SecPompeo: I applaud @Nasdaq’s actions to require all listed firms comply with the same auditing and inspection rules, especially as re…
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: 0.88% Silver: 0.43% Oil - US Crude: -0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/s7unTde0G5
  • The #FTSE 100 surged to its highest level since early June on Wednesday after the equity index pierced a longstanding technical barrier around 6,200. Get your #FTSE market update from @PeterHanksFX here:https://t.co/uFaYFaPGz2 https://t.co/mNnlGDksJn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.30%, while traders in US 500 are at opposite extremes with 76.93%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/kZcqWecOdG
  • The $EURUSD's climb continues at an exceptional pace. It is on course for the biggest three-week rally since May 2015 (the bottoming after the 2014 collapse) https://t.co/AbDLQ07D95
CAD Strengthens After Second Quarter Growth Revised Higher

CAD Strengthens After Second Quarter Growth Revised Higher

2012-10-01 13:07:00
Tzu-Wen Chen, Technical Strategist
Share:

THE TAKEAWAY: Canadian economic growth upwardly revised for second quarter 2012 > Updated accounting standards resulted in little impact and revision > CAD bullish

The Canadian economy grew more in the second quarter than initially reported. Ottawa-based Statistics Canada reported today that Canada’s gross domestic product (GDP) expanded at an annualized rate of 1.9 percent in the second quarter, a slight revision from the 1.8 percent growth originally estimated.

The revision reflects the adoption of updated economic accounting standards, which incorporates new weightings and measures, though the change in standards bore little impact on growth measurements. Statistics Canada stated that the new standards “resulted in no substantial change to the level, nominal growth rate or real growth rate of Canada’s gross domestic product from 1981 through the second quarter of 2012. Similarly, there was no material change to Canada’s current account balance over this period”.

USDCAD 1-minute Chart: October 1, 2012

CAD_Strengthens_After_Second_Quarter_Growth_Revised_Higher____body_Picture_1.png, CAD Strengthens After Second Quarter Growth Revised Higher

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

In the minutes after Statistics Canada released its GDP revisions, the Canadian dollar strengthened against the U.S. dollar. At the time of this report, the loonie had continued to rally, with the USDCAD pair trading at C$0.9818.

--- 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.