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USD/CAD Lower After Missed Growth Expectations

The Canadian dollar was lower Friday as economic growth for August missed already modest expectations.

The loonie was down 0.27 of a cent to 89.05 cents (U.S.) as Statistics Canada reported that gross domestic product dipped 0.1 per cent against the flat showing that economists had expected.

On an annualized basis, GDP was at an annualized pace of 2.2 per cent, missing expectations of 2.3 per cent.

via The Globe and Mail [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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