USD – The dollar fell to a fresh three-week low on Tuesday, with many analysts citing caution ahead of this week’s NFP report and last week’s dovish interpretation of Fed Chair Powell’s speech.
CAD – Canada’s GDP release in Tuesday’s US trading session revealed a contraction of 1.1% for Q2, far below consensus for growth of 2.5%. However, Scotiabank notes that the GDP data is unlikely to mean much for next week’s BoC announcement but could affect the following meeting in October when the central bank updates its economic forecasts.
CAD – Canada’s GDP release in Tuesday’s US trading session revealed a contraction of 1.1% for Q2, far below consensus for growth of 2.5%. However, Scotiabank notes that the GDP data is unlikely to mean much for next week’s BoC announcement but could affect the following meeting in October when the central bank updates its economic forecasts.