[KostiaFM]

USD/CAD. December 24, 2019 – Canadian dollar continues to decline

Today the Canadian dollar is showing a decline to the mark 1.3165 after the release of statistics on Canadian GDP. According to recent data, the country's economy slowed down by 0.1% in October.

Over the past few weeks the «canadian» has shown steady growth, having managed to reach the level of 1.31. The looney strengthened, despite the weak data on retail sales (-1.2% versus 0.5%) and employment (-71.2K against the forecast of 10.0K). However, currency growth was stopped by a strong support level of 1.31.

Experts believe that in the near future it will be difficult for the Canadian dollar to continue to strengthen. The Bank of Canada is still satisfied with the current monetary policy, however, in 2020, the regulator may begin to introduce mitigation measures if Canada's economic indexes continues to deteriorate.