Canadian Dollar Weakens on Shrinking Economy, Business Sentiment

May 01,2019 08:10   Source:Earnforex
The Canadian dollar is weakening on Tuesday after new data showed that the economy contracted in February, reducing some of its gains in January. Thanks to sluggish resource output, analysts are beginning to forecast an economic slump in the first quarter. This could explain why there is declining business sentiment nationwide. According to Statistics Canada, the gross domestic product (GDP) slipped 0.1% in February, down from the 0.3% gain in January. […]

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