Canadian Dollar Firms on Stronger-Than-Expected GDP Figures

The Canadian Dollar saw a modest boost in value after data released by Statistics Canada showed that the country's economy expanded faster than expected in May.

According to the figures, real gross domestic product increased by 0.3% month-on-month in May, beating the consensus forecast of 0.2% growth.

This marked a significant revision to April's expansion, which was revised higher from 0.5% to 0.6%, representing the strongest monthly increase since July 2025.

The advance estimate for June indicated a further 0.2% expansion in GDP, putting second-quarter growth on course to exceed the Bank of Canada's latest forecast of 2.5%.