USD/CAD – Is the GDP Data Good or Bad? (Video)

The US and Canada both released GDP figures for the second quarter on Friday and despite both posting strong numbers, USDCAD once again headed south, testing the lows of the last 48 hours.

Senior Market Analyst Craig Erlam discusses why this happened and what it could mean for the pair going forward. He highlights some key levels to watch out for and also looks to the US dollar index for clues about where the pair could be headed.

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This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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