USD/CAD jumped nearly 40 pips after the release, rising back above parity and hitting a high of 1.0011 before losing momentum. At time of writing, USD/CAD is trading at the 1.0010 zone, up 0.2% on the day.
As for technical levels, immediate resistances for USD/CAD are seen at 1.0020 followed by 1.0040 and 1.0065, while on the downside, supports could be found at 0.9980, 0.9960 and 0.9930.
Canadian GDP dropped 0.1% in August, missing estimates of a 0.2% increase and following an unrevised 0.2% gain in July. YoY GDP slowed to 1.2% from 1.9% in July.