Canada tackles recession in 3Q; Canadian dollar, steady

Mon, Nov 30 2009, 14:05 GMT
http://www.fxstreet.com

Related News

FXstreet.com (Barcelona) - Canadian Gross Domestic Product grew in the third quarter of the year after three consecutive quarters of declines, the Canadian Dollar, however, has remained steady, as GDP grew at a slower than expected pace.

GDP rose 0.4% year on year from July to September, following a 3.1% decline in the second quarter, upwardly revised from the 3.4% decline previously estimated. Market analysts expected a 1% advance, whole the Bank of Canada forecasted a 2.0% growing pace.

USD/CAD has remained moving between 1.0550 and 1.0590 during most of the European session, consolidating after Friday's decline from 1.0750 3-weeks high.

© 2010 “FXstreet.com. The Forex Market” All Rights Reserved. Every effort is made to provide accurate and complete information. However, with the thousands of documents available, often uploaded within short deadlines, we cannot guarantee that there will be no errors. Any republication or redistribution of FXstreet.com content is expressly prohibited without the prior written consent of FXstreet.com.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.