GDP of Canada - Ester Holdings
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GDP of Canada

  • GDP (m/m) (July), fact 0.0%, forecast 0.1%.

Canada’s economic growth slowed in July to zero. They confirmed fears of a slowdown in the economy, the downward trend of which has been traced since March of this year. It should be noted that the pace of deceleration was less rapid than expected. Against this background, the Canadian dollar received support previously.

Fig. 1. Canadian GDP chart

The Canadian dollar accelerated its decline against the US dollar on weak data, but remains limited by weekly lateral dynamics. As a result, the growth of the USD/CAD pair is limited by the resistance zone 1.3300-20.

Fig. 2. USD/CAD chart

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