The US Dollar depreciated against the Canadian Dollar, following the Canadian GDP release on Friday at 12:30 GMT. The USD/CAD currency pair lost 54 pips or 0.40% right after the release. The US Dollar continued trading at the 1.3370 level against the Canadian Dollar.
The Statistics Canada released the Canadian GDP data, which came better-than-expected of 0.3% compared with forecasted 0.1%.
By and large, it is likely that the Greenback regain some of its lost positions within this session. Bulls could push the currency exchange rate towards a resistance cluster formed by the 50– and 100-hour SMAs at 1.3400.
