Canada’s third-quarter GDP growth surprised markets by soaring to 2.6%, significantly above expectations. This robust performance has bolstered the Canadian dollar (CAD) and increased speculation that the Bank of Canada (BoC) may reconsider its easing stance. As a result, analysts from TDS suggest that the USD/CAD currency pair could find resistance around the 1.41 level, potentially trending down toward 1.38 by year-end.
The strong GDP figures have prompted traders to reassess their positions, leading to a more favorable outlook for the CAD. With the USD/CAD exchange rate under pressure, market participants are now closely monitoring economic indicators from both countries to gauge future movements. The improved Canadian economic outlook may also influence the dynamics between the CAD and other major currencies, particularly the euro (EUR) and US dollar (USD), as the year progresses.
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Data Source: FX Killer Analysis Team Updated: 2025-11-28 15:40
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.