Investing.com –Canada's economy returned to growth in March after the prior month’s stagnation, official data showed on Friday.
In a report, Statistics Canada said gross domestic product (GDP) rose 0.5% in March from a month earlier, above expectations for a 0.2% expansion and February’s stagnation.
Quarter-over-quarter, Canada’s economy expanded at an annualized rate of 3.7% in the first quarter, below expectations for an advance of 3.9% and following growth of 2.7% in the preceding quarter, that was revised upwards from an initial figure of 2.6%.
After the report, USD/CAD was trading at 1.3452 from around 1.3459 ahead of the release of the data.