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Canada's economy grew 0.1% month-over-month in November, below the market expectation of 0.2%. The Canadian dollar strengthened slightly after the data was released.
USD/CAD moved lower toward the 1.3410 support level.
A slightly weaker-than-expected GDP print adds to signs of a slowing Canadian economy, which can reduce domestic demand for feed-related products. The currency reaction was small, so the price impact is limited.
xtb.comJan 31, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
