Canadian GDP rose 0.4% mom in February, a solid rebound from January’s -0.1% contraction and beat expectation of 0.3% mom.
As seen in D heatmap, CAD is trading as the second strongest one for today, just next to USD. GBP remains the weakest one after today’s PMI miss, followed by EUR and JPY.
Following up on a post here, EUR/CAD drops through 1.5461 support today. Decline from 1.6151 has resumed and further fall should be seen to 61.8% projection of 1.6151 to 1.5461 from 1.5712 at 1.5286 next.
This is also in line with downside red action bias as seen in EUR/CAD 6H and D action bias charts.
