The Canadian is stable. Canada GDP data
The Canadian dollar remains stable against the US dollar, after the publication of mixed data on Canada’s GDP.
- According to published data, Canada’s GDP growth in December was 0.1%, which is below the previous value of 0.4%.
- In turn, in the fourth quarter the growth rate remained at the level of 0.4%.
- The GDP deflator in the 4th quarter showed an increase of 1.2%, against the previous value of 0.0%.
Technical analysis: The pair USD/CAD maintains an uptrend in the short term. The main support levels are 1,2800, 1,2760. The resistance levels are 1,2930, 1,2960.
Key recommendations: The USD/CAD pair can be considered for both purchases and sales from the above levels, but one should take into account the fact that the trades will be held on the US stock exchanges against yesterday’s statement made by Trump on imposing duties on steel and aluminum that negatively affected the stock markets of Asia and Europe during today’s trading.
Fig. USD/CAD. The current price is $ 1.2872.
Alexander Sivtsov