* Focus today for USD/CAD will be Canadian GDP data. * Expected at 0.0% vs. previous -0.1%. * Heading into this data we should note; retail sales have been falling for the past two months, home sales were at these weakest since 2015 at last reading, slow wage growth for the country, inflation is at a 15-month low. *With all the above noted I cannot see any upside surprises for this data. It may remain in contraction territory. My view is to see CAD WEAKNESS on this.
* Despite my forecast lets trade what we see. USD/CAD is edging lower this morning, thanks only the higher oil prices.