Canada Q2 GDP +3.3% vs +4.4% expected

Read full post at forexlive.com

• Prior was +3.1%
• GDP +0.8% q/q vs +0.8% prior
• Implicit price rise +3.3% q/q vs +2.9% prior (revised to +3.0%)
• GDP m/m +0.1% vs +0.1% expected
• Prior m/m reading 0.0%

USD/CAD is up 36 pips today to 1.3130 and this isn’t helping. But the main driver is the two-day plunge in oil prices. That’s continued today with crude down $2.56 to $89.08 or rumors of an Iran deal.