During New York morning trading on Thursday, the Canadian dollar advanced against major opponents after the release of Gross Domestic Product or GDP in July. Economic activity in Canada slowed in July for the first time in nearly a year, official data showed today.
Real gross domestic product edged down 0.1% in July, the first monthly decline since August 2009, according to Statistics Canada. GDP rose 0.2% in June.
Manufacturing, retail and wholesale trade, construction and forestry all posted decreases in August, offsetting increased activity in mining and some financial industries.
Manufacturing decreased 0.7% in July, as production of pharmaceutical and paper products tailed off.
The loonie traded higher against the US dollar and hit a 3-day high of 1.0233 by about 8:55 am ET. As of now, the pair is trading at 1.0248, compared to yesterday’s close of 1.0328.
From the economic front, the U.S. Commerce Department released a report today showing an unexpected upward revision to its estimate for second quarter GDP growth.
The Commerce Department said that second quarter GDP increased at an annual rate of 1.7 percent compared to the 1.6 percent growth estimated last month. The upward revision came as a surprise to economists, who had expected GDP growth to remain unchanged at 1.6 percent.
According to a report released by the U.S. Labor Department today, the initial jobless claims fell to 453,000 from the previous week’s revised figure of 469,000. Economists had expected jobless claims to edge down to 457,000 from the 465,000 originally reported for the previous week.
Additionally, continuing claims, a reading on the number of people receiving ongoing unemployment help, fell to 4.457 million in the week ended September 18th from the preceding week’s revised level of 4.540 million.
Against its Japanese counterpart, the loonie soared up further and presently trading at 81.43 from Asian session’s 3-week low of 80.52. The loonie-yen pair closed Wednesday’s North American session at 81.10.
The Canadian currency also showed strength against the euro and the Australian dollar in today’s New York morning. As of now, the loonie is trading at 1.3386 aganist the euro and 0.9962 versus the Aussie from early lows of 1.4104 and 1.0010, respectively.
Thanks for another informative site. The place else may I
am getting that kind of information written in such an ideal way?
I’ve a mission that I am just now running on, and I have been at the glance out for such info.
Tympanic membrane and Meniere’s syndrome are also considered as the cause of tinnitus.
Practicing yoga exercises or any other meditation techniques helps to a great extend in reducing
stress and tension. Biofeedback is a learning process, which trains patients
to control certain involuntary movements of the body.
Do you have a spam problem on this blog; I also am a blogger, and I was curious about your situation;
many of us have created some nice practices and we are looking to trade
techniques with others, why not shoot me an e-mail if interested.
It’s awesome to pay a quick visit this web
site and reading the views of all friends on the topic of
this article, while I am also keen of getting knowledge.
Hmm it appears like your site ate my first comment (it was super long) so I guess I’ll just sum it up what I had written and
say, I’m thoroughly enjoying your blog. I too am an aspiring blog blogger but I’m still new to everything.
Do you have any tips for first-time blog writers?
I’d certainly appreciate it.
I just could not depart your website prior to suggesting that I really enjoyed
the usual info a person supply for your guests?
Is gonna be back continuously in order to check up on new posts
I constantly spent my half an hour to read this web site’s content everyday along with a mug of coffee.
I hardly leave a response, however I looked at a few of the remarks here Canadian Dollar Advances Against Majors Amid GDP Data | Forex Trading Market. I actually do have a couple of questions for you if it’s allright. Is it just me or does it look like a few of the remarks appear as if they are left by brain dead individuals? 😛 And, if you are posting at additional sites, I would like to keep up with you. Would you post a list of all of your shared sites like your Facebook page, twitter feed, or linkedin profile?
This company agents network gives you access to a huge swimming pool of men and women with the main points with regards to organizations available for sale and purchasers or even traders seeking every corporation project. By simply creating excellent use from your information you could have, you may well be decreasing a new supply and make up a good looking earnings outside the trades.
Appreciate your this particular write-up G I enjoy this!!