The Canadian Dollar (CAD) found some room on the high side on Friday, pushing up by a scant tenth of a percent against the US Dollar amid choppy intraday price action after key economic data broadly met market expectations. Canadian Gross Domestic Product (GDP) ticked higher and US Personal Consumption Expenditure Price Index (PCE) inflation figures cooled slightly.
Canada posted a slight gain in GDP growth in April, rebounding from the previous monthÂ’s flat print. A stacked US data docket also generally met market expectations, though US Personal Spending failed to meet expectations despite a post-revision improvement.
The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Canadian Dollar was the strongest against the Japanese Yen.
 | USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF |
---|---|---|---|---|---|---|---|---|
USD | Â | -0.06% | 0.00% | 0.05% | -0.10% | -0.32% | -0.13% | -0.03% |
EUR | 0.06% | Â | 0.07% | 0.09% | -0.03% | -0.25% | -0.08% | 0.04% |
GBP | -0.01% | -0.07% | Â | 0.02% | -0.12% | -0.34% | -0.15% | -0.06% |
JPY | -0.05% | -0.09% | -0.02% | Â | -0.16% | -0.37% | -0.19% | -0.07% |
CAD | 0.10% | 0.03% | 0.12% | 0.16% | Â | -0.23% | -0.04% | 0.05% |
AUD | 0.32% | 0.25% | 0.34% | 0.37% | 0.23% | Â | 0.19% | 0.29% |
NZD | 0.13% | 0.08% | 0.15% | 0.19% | 0.04% | -0.19% | Â | 0.09% |
CHF | 0.03% | -0.04% | 0.06% | 0.07% | -0.05% | -0.29% | -0.09% | Â |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Canadian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CAD (base)/USD (quote).
The Canadian Dollar found a bid on Friday, gaining ground against the majority of its major currency peers as markets get set to wrap up a relatively sedate trading week. The CAD gained around one-tenth of one percent against the US Dollar on Friday and climbed nearly one-quarter of one percent against the broadly-battered Japanese Yen.
USD/CAD briefly found a fresh high for the week near 1.3735 early Friday before settling back into familiar near-term lows near 1.3675. CAD strength has briefly halted a recent upswing in the pair on a Greenback bid, sending USD/CAD into a rough near-term corkscrew around the 200-hour Exponential Moving Average (EMA) near the 1.3700 handle.
The Gross Domestic Product (GDP), released by Statistics Canada on a monthly and quarterly basis, is a measure of the total value of all goods and services produced in Canada during a given period. The GDP is considered as the main measure of Canadian economic activity. The MoM reading compares economic activity in the reference month to the previous month. Generally, a high reading is seen as bullish for the Canadian Dollar (CAD), while a low reading is seen as bearish.
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