Canada: Real GDP expanded by 0.1% in January as expected
|The real Gross Domestic Product (GDP) in Canada increased by 0.1% on a monthly basis in January following December's expansion of 0.3%, the data published by Statistics Canada showed on Tuesday. This reading came in line with market expectation.
"In January, effects such as reduced trade with China and advisories against non-essential travel to China affected potential growth," Statistics Canada noted in its press release. "The pandemic will significantly affect economic activity in March and subsequent months."
Market reaction
The USD/CAD pair edged lower after this data and was last seen trading at 1.4233, still adding 0.45% on a daily basis.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.