Canada: Real GDP expands by 0.3% in April as expected

Canadian economy expanded by 0.3% in April as expected.
The USD/CAD pair retreated toward 1.2900 after this data.

Eren Sengezer FXStreet

Led by growth in goods-producing industries, the real Gross Domestic Product of Canada grew by 0.3% on a monthly basis in April, Statistics Canada reported on Thursday. This print followed March's expansion of 0.7% and came in line with the market expectation.

Market reaction

The USD/CAD pair, which touched a six-day high of 1.2933 earlier in the day, lost its traction after this data and was last seen posting small daily gains at 1.2906.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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