Investing.com - Canada's economy grew broadly in line with market expectations in August, easing concerns over the country’s economic outlook, official data showed on Tuesday.
Statistics Canada said gross domestic product rose by a seasonally adjusted 0.2% in August, matching forecasts. Canada’s economy grew 0.4% in July, downwardly revised from a previously reported 0.5%.
Year-over-year, Canada’s economy expanded at an annualized rate of 1.3%, in line with expectations and following growth of 1.2% in the preceding month.
USD/CAD was trading at 1.3386 from around 1.3380 ahead of the release of the data.