USD/CAD slides below 1.2950 on soft US dollar ahead of Powell’s speech – by christianborjon USDCAD UnitedStates GDP Employment Fed
US GDP Q2 figure, albeit better than expected, is still in recessionary territory.
The USD/CAD hit a daily high of around 1.2975, before diving, towards its daily low, around 1.2895, while Growth in the US, as measured by the Gross Domestic Product for the second quarter of 2022, on its second reading, beat expectations. Still, flashes recessionary signs at -0.6%, higher than 0.8% estimates.
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