USD/CAD trades around 1.4045 on Friday at the time of writing, recovering from a two-week low hit on Thursday at 1.3991.
Statistics Canada reported that the economy expanded by 0.3% MoM in May, following an upwardly revised 0.6% increase in April. Growth was broad-based, with both goods-producing and services-producing industries contributing to the expansion, while 13 of the 20 industrial sectors posted gains.
However, the positive impact of the data on the Loonie proved short-lived. The US Dollar (USD) regained momentum as markets continued to price in the risk that the Federal Reserve (Fed) may need to keep monetary policy restrictive for…
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