Canadian GDP shrinks 0.1% in April – USD/CAD rises

Another month, another slide in the Canadian economy: instead of growing 0.1% as expected, the economy squeezed by the same scale at the wake of Q2. No revision was reported for March. Year over year, growth is 1.2% after 1.5% in March.

USD/CAD tops 1.24 after this disappointment, which follows the previous one.

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