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USD/CAD holds onto gains at 1.0367/73 after US GDP

FXstreet.com (Barcelona) - The USD/CAD suddenly reversed course and broke higher during European trading Thursday, quickly shooting upward to test new heights at 1.0390 before easing back to 1.0367/73 after US data.

Mataf.net analysts identify the next level of supportive correction for the USD/CAD at 1.0329, then 1.0297, and finally 1.0251. On the ascension, resistive structures will trigger at 1.0407, onto 1.0453, and finally 1.0485.

In the United States, Gross Domestic Product (Annualized) came in at +2.4% in Q1, missing expectations of +2.5%. In addition, the Gross Domestic Product Price Index grew +1.2% in Q1, matching estimates of +1.2%.

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EUR/USD bounced from session lows and spiked to the 1.2980 area after data showed US GDP was revised slightly lower to 2.4% from 2.5% in Q1, while jobless claims unexpectedly rose to 354K last week.
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Canada: Current Account deficit at $14.09 billion in Q1

Canadian Current Account deficit narrowed to $14.09 billion during the first quarter, bettering the forecasted deficit at $15.5 billion and up from $14.63 billion deficit in the previous print...
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