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USD/CAD Loonie Lower After Canadian GDP Miss Ahead of BoC

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 2, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The USD/CAD had a volatile trading session that saw the price fluctuate 0.66 percent intraday. The currency pair shot up towards the 1.34 price level after the third quarter gross domestic product data was released. The Canadian economy shrank 0.5 percent in September versus an expected growth of 0.1 percent. Statistics Canada also reported the final third quarter GDP growth figures at 2.3 percent. The contraction in September was due to the weakness of the energy sector. The Canadian economy

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