Elaine Nora

Canada GDP grew 4.5% mom in May, better than expectation of 3.1% mom. Both goods-producing (8.0%) and services-producing industries (3.4%) were up, as 17 of 20 industrial sectors posted increases. StatCan also said based on preliminary information, real GDP would grow 5% in June. Output across sever

The Canadian economy returned to growth in May as real GDP rose 4.5% month-on-month. May’s growth was a fair bit stronger than both Statistics Canada’s initial nowcast of a 3% gain and market expectations of a 3.5% climb. Growth was fairly widespread, as 17 of 20 major sectors reported increased act

ANALYSIS USDCAD Dollar/CAD traders are trying to buy the dips this morning as month-end dollar selling seems to have run its course. The timing of thesere-balancingflows is notoriously difficult to predict but wed wager that a lot of portfolio managers jumped the gun yesterday given the broader USDs

Dollar recovers mildly as markets turned mixed ahead of monthly close, but remains the second weakest for the week. Canadian Dollar is currently still the worst performing, as dragged by oil selloff. But we’ll see if better than expected GDP data could give the Loonie a lift before the final hours.

OTTAWA — Statistics Canada says the economy grew by 4.5% in May as businesses began to reopen after severe lockdowns of March and April. The average economist estimate was for a 3.5% increase in gross domestic product for May, according to financial data firm Refinitiv. The national data agency says

It has been a quiet day for USD/CAD, as we wrap up the trading week. The pair is currently trading at 1.3423, up 0.01%. On the release front, Canada’s GDP for May climbed 4.5%, beating expectations. In the US Core PCE Price Index, which is reportedly the Federal Reserve’s preferred inflation indicat

C Canada's economy expanded by 4.5 per cent in May, a strong bounceback from the low hit in April, but still 15 per cent below the level it was at in February, before COVID-19 hit. Statistics Canada reported Friday that Canada's gross domestic product — the total value, in dollars, of all the goods

Canada’s economy has made up almost half of its historic contraction since the height of the pandemic, Statistics Canada reported Friday. Gross domestic product expanded 4.5 per cent in May, the agency said in its first full release for the month. June was even stronger, with the statistics agency r

Futures for stocks in Canada’s largest centre fell more than 1% on Thursday, weighed by lower oil prices as surging coronavirus cases globally dented hopes of a rebound in fuel demand just as major oil producers are set to raise output.The S&P/TSX Composite Index leaped 173.34 points, or 1.1%, t

The Canadian dollar was little changed against its U.S. counterpart on Friday but was on course for its fourth straight monthly gain, its longest winning run in six years, as domestic data showed the economy expanded more than expected in May. Canadian gross domestic product rose by 4.5 per cent in

The USD/CAD pair rose sharply in the last hour and touched its highest level in a week at 1.3458 as plunging crude oil prices weighed on the commodity-sensitive loonie. As of writing, the pair was up 0.82% on the day at 1.3450. WTI slumps below $40 The data from the US on Thursday showed that the ec

Upside risks dominated the US Dollar against the Canadian Dollar on Thursday. The USD/CAD currency pair edged higher by 120 pips or 0.90% during Thursday’s trading session. As for the near future, the exchange rate could continue to surge. Bullish traders are likely to target the upper boundary of a

USD/CAD 4-hour chart Commodities have been on a bearish path today as WTI trades 2.8% lower on Thursday. This has led CAD to underperform relative to its peers as almost all the other majors (excluding AUD) have recovered from USD strength earlier in the session. The USD has had a mixed reaction to

The GDP report from Canada for May has been released. The Canadian economy contracted in March and April during lock-downs, but it seems to have turned the tail in May, as the country started to reopen. Expectations were for a 3.5% increase that month, but the GDP report beat expectations for May, c

USD/CAD rises to 1.3430, up 0.07% on a day, before the European session begins on Friday. The loonie pair recently took a U-turn from 200-HMA while reversing the previous day’s pullback from 1.3460.   Although MACD conditions challenge the latest recovery in USD/CAD prices, sustained trading beyond