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27 Aug 2015
USD/CAD recovers ground after US data
FXStreet (Córdoba) - The US dollar managed to trim losses against the loonie following the release of upbeat US GDP and employment data.
USD/CAD extended its recovery from daily lows and reached a session peak of 1.3258 helped by solid data, which bolsters expectations the Fed might begin raising rates in September. At time of writing, USD/CAD is trading at 1.3250, still 0.30% below its opening price.
The Canadian dollar strengthened on Thursday, underpinned by a recovery in oil prices.
US GDP beats estimates, jobless claims fall
US gross domestic product rose at a 3.7% annual rate in the second quarter, up from the initial estimate of 2.3% growth and beating expectations of 3.2%. Meanwhile, the PCE price index, the Fed’s preferred measure of inflation, rose 2.1% in the Q2 versus 2.0% expected.
Separated data showed US initial jobless claims dropped to 271K in the latest week down from 277K and versus 274K expected.
USD/CAD extended its recovery from daily lows and reached a session peak of 1.3258 helped by solid data, which bolsters expectations the Fed might begin raising rates in September. At time of writing, USD/CAD is trading at 1.3250, still 0.30% below its opening price.
The Canadian dollar strengthened on Thursday, underpinned by a recovery in oil prices.
US GDP beats estimates, jobless claims fall
US gross domestic product rose at a 3.7% annual rate in the second quarter, up from the initial estimate of 2.3% growth and beating expectations of 3.2%. Meanwhile, the PCE price index, the Fed’s preferred measure of inflation, rose 2.1% in the Q2 versus 2.0% expected.
Separated data showed US initial jobless claims dropped to 271K in the latest week down from 277K and versus 274K expected.