USD/CAD trades flat at around 1.3700 on Friday after the release of Canadian economic growth data and US inflation data updated analysts evaluations of the currency pair.
USD/CAD trades flat at around 1.3700 after a big data day for the pair. Canadian GDP showed a 0.3% rise in April suggesting a strong economy. US PCE inflation data, the Fed’s preferred gauge, meanwhile, showed progress towards the Fed’s 2.0% target. USD/CAD trades flat at around 1.3700 on Friday after the release of Canadian economic growth data and US inflation data updated investors'evaluations of the currency pair. After starting the Asian sessionin the 1.
His views were echoed by Robert Both, Senior Macro Strategist at TD Securities, who said, “The April strength was widely expected following the flash estimate last month, but we believe new projections for softer growth in May should give the Bank of Canada some added conviction that this strength will not be sustained. A 0.1% print in May would leave Q2 GDP tracking slightly above projections from the April MPR, but we do not think that's enough to derail another cut in July.
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