The Canadian Dollar strengthened against the Greenback, following the Canadian GDP data release on Tuesday. The USD/CAD currency pair lost 29 pips, or 0.23%, to continue fluctuating in the 1.2836 area.
The Statistics Canada released Gross Domestic Product that came out better-than-expected of 0.4% for the month of February, which caused USD/CAD’s currency pair to move downwards.
Canada’s economy has got back on its feet from –0.1% in the previous period, where one of the main reasons for such a rebound was extraction in oil and gas.
