The Canadian dollar traded higher against the U.S. dollar on Friday after the release of the country's GDP data for the second quarter.
Statistics Canada said that real gross domestic product rose 0.5% in the second quarter, matching the pace of the two previous quarters. On a monthly basis, real GDP by industry advanced 0.2% in June.
The loonie that closed Thursday's deals at 0.9927 against the greenback hit 0.9869, its highest level since August 29. On the upside, the loonie may target 0.985 level.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.