- Economy grows at an annualized rate of 0% in the fourth quarter, against expectations of 1.5%.
- In December there was a contraction of 0.1%.
- USD/CAD moved closer to 1.3600 after the report.
The growth data of Canada fourth quarter were lower than expected, sending the loonie back modestly.
He GDP in December contracted 0.1%, contrary to the expectation that it would remain unchanged with respect to the previous one, in which it had expanded 0.1%. As for the fourth quarter, the market consensus was for an annualized expansion of 1.5%, but the data showed that it had stalled. In turn, growth in the third quarter was revised from a rate of 2.9% to 2.3%.
He USD/CAD it was trading around 1.3565 before the data, and rallied modestly after the data, approaching 1.3600.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
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