Canada GDP grew for a third consecutive month in May, by 0.2% mom, beat expectation of 0.1% mom. The increase was led by a rebound in manufacturing with 13 out of 20 industrial sectors expanding. On a three-month rolling average basis, real gross domestic product increased 0.7%.
Also from Canada, IPPI dropped -1.4% mom in June versus expectation of -0.1% mom. RMPI dropped -5.9% mom versus expectation of -0.4% mom.
USD/CAD dips after the releases. But it’s staying above 1.3116 minor support. Rebound in 1.3016 is still in favor to resume at a later stage.
