CANADIAN DOLLAR FAILS TO SPARK INTEREST AFTER GDP PRINT
- The Canadian Dollar is on the high side for Friday, but flows remain thin.
- Canada printed a better-than-expected GDP result in Q2.
- Next week brings another BoC rate call, 25 bps cut expected.
The Canadian Dollar (CAD) recovered some slight ground against most of its major currency peers on Friday, but trading remains thin as market flows struggle to find interest in the CAD. The Canadian Dollar also failed to spark a bid against the Greenback, waffling into the low side against the USD after an upside beat in Canadian Gross Domestic Product (GDP) growth failed to generate a meaningful bullish bid.
Canada is set to go dark for a long weekend, leaving next week’s opening volleys an even thinner affair than usual. A looming rate cut from the Bank of Canada (BoC) will also keep CAD flows trimmed thinner than usual.
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