Canada GDP Rises 0.5% in April, Beats Estimates – RBC
Canada's GDP rose 0.5% in April, exceeding Statistics Canada's 0.4% advance estimate and marking the strongest monthly gain since July, according to RBC economist Abbey Xu.
USDCAD
Royal Bank of Canada economist Abbey Xu noted that Canadian Gross Domestic Product increased 0.5% month-over-month in April, beating the 0.4% advance estimate from Statistics Canada. This marks the strongest monthly gain since July of the previous year.
The data suggests a firmer second quarter for the Canadian economy. The stronger-than-expected reading may influence expectations for the Bank of Canada's monetary policy path, though the report does not provide explicit guidance on rate moves.
Source: FXStreet Forex News