Canada: Gross Domestic Product expands by 0.1% in November vs. 0% expected

• Canadian economy grew by 0.1% on a monthly basis in November.
• USD/CAD holds in positive territory slightly below 1.3450 after the data.

Real Gross Domestic Product (GDP) in Canada grew by 0.1% on a monthly basis in November, the data published by Statistics Canada revealed on Tuesday.

This reading matched October's expansion of 0.1% and came in slightly better than the market expectation of 0%.

Market reaction

USD/CAD pair edged slightly lower with the initial reaction and was last seen trading at 1.3437, gaining 0.4% on a daily basis.