he Pound Sterling to Canadian Dollar (GBP/CAD) exchange rate advanced to 1.92 after GDP data out of the North American nation came in below forecasts.
Canada’s Gross Domestic Product (GDP) contracted in November as manufacturing dropped the most since January 2009 and as the economy suffered from declines in mining and oil and gas extraction.
According to Statistics Canada the nation’s GDP contracted by -0.2% on a month on month basis, a figure that was worse than the unchanged 0.3% forecast.
Earlier the Pound Sterling to Canadian Dollar (GBP/CAD) exchange rate surged to a new six year high on Friday as oil prices fell yet again.
Read more at Click here / www.trade4x.net
Canada’s Gross Domestic Product (GDP) contracted in November as manufacturing dropped the most since January 2009 and as the economy suffered from declines in mining and oil and gas extraction.
According to Statistics Canada the nation’s GDP contracted by -0.2% on a month on month basis, a figure that was worse than the unchanged 0.3% forecast.
Earlier the Pound Sterling to Canadian Dollar (GBP/CAD) exchange rate surged to a new six year high on Friday as oil prices fell yet again.
Read more at Click here / www.trade4x.net
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