Latest monthly GDP data out from Canada
- +0.3% prev
- yy +0.9% vs +1.0% exp vs +0.7% prev revised down from +0.8%
No variation on expectations mm, and a third straight month of growth, but less than previous and softer yy and revision mean a sharp rise in USDCAD to 1.3188 from 1.3150
More offers/res into 1.3200 then 1.3220 and 1.3260. Support/bids to be expected at 1.3150 then more into 1.3100-20
The mm gain in August was led by mftg, oil & gas output and retail sales. The rise in mftg output, despite lower sales is accounted for by higher inventories
Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy's health.