Canada’s GDP m/m release landed at 12:30 UTC, and the Canadian dollar’s response was muted across the board. The largest move came in GBPCAD, which edged down just 0.025%.
Where the CAD moved
GBPCAD led the reaction, slipping from 1.88134 to 1.88087, a move of -0.025%.
CADJPY ticked in the other direction, firming from 115.201 to 115.215 for a gain of 0.013%.
EURCAD eased from 1.61295 to 1.61274, down 0.013%, while CADCHF nudged up 0.005% from 0.58061 to 0.58064.
NZDCAD was essentially flat, easing from 0.82365 to 0.82362 (-0.004%), and USDCAD barely registered a change, moving from 1.38547 to 1.38545 (-0.001%).
What the reaction shows
The response to the GDP figure was minimal, with every listed pair moving by well under a tenth of a percent. There was no clear one-way directional push in the Canadian dollar.
The modest activity that did appear was split: CADJPY and CADCHF saw the loonie tick slightly firmer, while GBPCAD and EURCAD showed it a touch softer. USDCAD and NZDCAD were effectively unchanged.
On our feed, the data passed without any pronounced repricing in the Canadian dollar.
Descriptive market news from the ForexBullion Research Team. Not investment advice.
