The USD/CAD currency pair continued its downward trend on Friday, as the Canadian Dollar (CAD) gained momentum following a notable rebound in Canada’s Q3 Gross Domestic Product (GDP). The exchange rate saw the Loonie strengthening against the US Dollar (USD), indicating a shift in trader sentiment driven by positive economic data from Canada.
As traders reacted to the robust GDP figures, the CAD's gains reflect an optimistic outlook for the Canadian economy. This shift in market dynamics may influence future trading strategies, particularly for those holding positions in the USD/CAD pair. The downturn for the USD could signify a broader trend, especially as investors closely monitor upcoming economic indicators that may impact both currencies.
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Data Source: FX Killer Analysis Team Updated: 2025-11-28 14:43
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.