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Market Update

EncoreFX’s daily market updates are written by our experienced and professional dealing team.

CAD surges after GDP data exceeds expectations

Published July 28, 2017
  • The Canadian dollar strengthened further against the greenback after Canadian GDP data exceeded expectations this morning
  • USD also pushed lower versus other major currencies, re-approaching a 13-month low after U.S. growth data come out in line with expectations and employment cost figures disappointed
  • In Washington, the Republicans failed attempt to repeal Obamacare may also be weighing on USD
  • Gold continues to maintain strength, hovering around its 6-week high