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Trading the Canadian GDP Data Release
Canada will release July GDP data on Friday Sept 30 at 1:30 pm London time. Canada’s economy is well diversified with energy exports, manufacturing and services industry playing key roles. Canada relies on U.S. heavily as the U.S. is the largest importer of Canada’s oil. Exports account for 45% of the Canadian GDP. The GDP is a good indicator of how the Canadian economy is standing up to slump in demand from the U.S. and other developed nations. Oil prices have cooled off significantly in the last six months, down from their highs of $110 a barrel to $83 a barrel. Recent Canadian economic developments to take in ... (full story)