{"id":53768,"date":"2020-07-22T22:03:01","date_gmt":"2020-07-23T05:03:01","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=53768"},"modified":"2020-07-22T23:07:27","modified_gmt":"2020-07-23T06:07:27","slug":"canadian-dollar-gdp-covid-19-advantage-over-us-dollar","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/","title":{"rendered":"Canadian Dollar: GDP and COVID-19 Advantage over the U.S. Dollar"},"content":{"rendered":"\n<p>The Bank of Canada (BoC) released <a rel=\"noreferrer noopener\" href=\"https:\/\/www.bankofcanada.ca\/2020\/07\/fad-press-release-2020-07-15\/\" target=\"_blank\">its latest Monetary Policy Report on July 15, 2020.<\/a> Neither the report nor <a rel=\"noreferrer noopener\" href=\"https:\/\/www.bankofcanada.ca\/multimedia\/mpr-press-conference-webcasts-july-2020\/\" target=\"_blank\">the press conference<\/a> contained any surprises. The BoC did not change interest rates, kept the crank turning on its Quantitative Easing (QE) program,  and promised to &#8220;hold the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2 percent inflation target is sustainably achieved.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Pandemic-Driven GDP Differentials<\/strong><\/h2>\n\n\n\n<p>However, the Bank of Canada&#8217;s estimates on GDP growth caught my attention and got me thinking bullish on the Canadian dollar (FXC). The BoC estimates a stronger growth profile for the Canadian economy through 2022. <\/p>\n\n\n\n<p>The Bank of Canada estimated the following year-over-year changes for Canada&#8217;s GDP:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>2019: +1.7%<\/li><li>2020: -7.8%<\/li><li>2021: +5.1%<\/li><li>2022: +3.7%<\/li><\/ul>\n\n\n\n<p>The BoC estimates the following lower year-over-year changes for GDP in the U.S. after 2019:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>2019: +2.3%<\/li><li>2020: -8.1%<\/li><li>2021: +3.4%<\/li><li>2022: +4.3%<\/li><\/ul>\n\n\n\n<p>The COVID-19 pandemic features prominently in the BoC&#8217;s central economic scenarios. The potential for a &#8220;second wave&#8221; of the virus mean risks to the economic forecasts are tilted to the downside. The following chart of daily new cases per million people provides a stark and sufficient explanation for the slower growth estimate for the U.S.. The U.S. sticks out as the only &#8220;advanced&#8221; economy that failed to get its new coronavirus cases under control after shelter-in-place orders began lifting. Indeed, U.S. cases are out of control while those in Canada, the Euro area, Japan, and even the United Kingdom are back to manageable levels. As of July 10th, only Mexico and Brazil had higher case rates of major &#8220;emerging-market&#8221; economies.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/image.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"511\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/image.png\" alt=\"\" class=\"wp-image-53769\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/image.png 1000w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/image-768x392.png 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption><strong>Source: <a href=\"https:\/\/www.bankofcanada.ca\/wp-content\/uploads\/2020\/07\/mpr-2020-07-15.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Bank of Canada Monetary Policy Report<\/a><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Currency Moves<\/strong><\/h2>\n\n\n\n<p>USD\/CAD fell 0.8% in the wake of the monetary policy report. The currency pair closed right on top of support at its 200-day moving average (DMA). USD\/CAD finally broke through the 200DMA on Monday and validated with technicals the bullish case for the Canadian dollar (against the U.S. dollar).<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/200722_USDCAD-US-dollar-vs-Canadian-dollar.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"774\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/200722_USDCAD-US-dollar-vs-Canadian-dollar.png\" alt=\"The U.S. dollar vs Canadian dollar (USD\/CAD) has reversed most of its pandemic related gains and looks ready to take on fresh downward momentum after a 200DMA breakdown.\" class=\"wp-image-53781\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/200722_USDCAD-US-dollar-vs-Canadian-dollar.png 1200w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/200722_USDCAD-US-dollar-vs-Canadian-dollar-768x495.png 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption>The U.S. dollar vs Canadian dollar (USD\/CAD) has reversed most of its pandemic related gains and looks ready to take on fresh downward momentum after a 200DMA breakdown.<br><strong>Source: <a href=\"https:\/\/www.tradingview.com\/x\/fNag7Tyy\/\" target=\"_blank\" rel=\"noreferrer noopener\">TradingView.com<\/a><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<p>USD\/CAD looks poised to resume the pullback from the March highs. Downside momentum will also come from a generally weakening U.S. dollar index (DXY). For the first time in two years, the U.S. dollar index failed to rebound back to or through its 200DMA soon after a 200DMA breakdown. DXY&#8217;s 50DMA is now in a definitive downtrend. DXY is nearing a 2-year low. These signs are all bearish for the U.S. dollar index.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/200722_DXY-US-dollar-index.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"774\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/200722_DXY-US-dollar-index.png\" alt=\"The U.S. dollar index (DXY) is breaking down after it failed to recover from the last 200DMA breakdown.\" class=\"wp-image-53780\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/200722_DXY-US-dollar-index.png 1200w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/200722_DXY-US-dollar-index-768x495.png 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption>The U.S. dollar index (DXY) is breaking down after it failed to recover from the last 200DMA breakdown.<br><strong>Source: <a href=\"https:\/\/www.tradingview.com\/x\/saQ9VQn9\/\" target=\"_blank\" rel=\"noreferrer noopener\">TradingView.com<\/a><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<p>I am making the transition in my trades and my thinking to a bearish dollar world. Several U.S. dollar currency pairs are stretched, so I am looking for pullbacks to buy. <\/p>\n\n\n\n<p>Commodities are benefiting from weakness in the U.S. dollar index. The strength in commodities will further bolster the prospects for the Canadian dollar given the commodity-heavy Canadian economy. The soaring prices in gold and silver say it all.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/200722_GLD-SPDR-Gold-Trust.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"774\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/200722_GLD-SPDR-Gold-Trust.png\" alt=\"The SPDR Gold Trust (GLD) hit hit a 9-year high.\" class=\"wp-image-53778\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/200722_GLD-SPDR-Gold-Trust.png 1200w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/200722_GLD-SPDR-Gold-Trust-768x495.png 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption>The SPDR Gold Trust (GLD) hit hit a 9-year high.<br><strong>Source: <a href=\"https:\/\/www.tradingview.com\/x\/EDVXyGJe\/\" target=\"_blank\" rel=\"noreferrer noopener\">TradingView.com<\/a><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"774\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/200722_SLV-iShares-Silver-Trust.png\" alt=\"The iShares Silver Trust (SLV) broke out from a multi-year base and looks like it has tremendous upside potential.\" class=\"wp-image-53779\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/200722_SLV-iShares-Silver-Trust.png 1200w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/200722_SLV-iShares-Silver-Trust-768x495.png 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><figcaption>The iShares Silver Trust (SLV) broke out from a multi-year base and looks like it has tremendous upside potential.<br><strong>Source: <a href=\"https:\/\/www.tradingview.com\/x\/0jcnuZ8R\/\" target=\"_blank\" rel=\"noreferrer noopener\">TradingView.com<\/a><\/strong><\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-embed-youtube aligncenter wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Release of the Monetary Policy Report \/ Publication du Rapport sur la politique mon\u00e9taire\" width=\"1200\" height=\"675\" src=\"https:\/\/www.youtube.com\/embed\/U5zON9cjv8o?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Be careful out there!<\/p>\n\n\n\n<p>Full disclosure: long GLD shares and call options, long SLV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Canada (BoC) released its latest Monetary Policy Report on July 15, 2020. Neither the report nor the press conference contained any surprises. The BoC did not change interest rates, kept the crank turning on its Quantitative Easing (QE) program, and promised to &#8220;hold the policy interest rate at the effective lower bound &#8230; <a title=\"Canadian Dollar: GDP and COVID-19 Advantage over the U.S. Dollar\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[235,59,20,300,511,62,21],"tags":[236,296,2301,2392,2049,297,115,1838,469],"class_list":["post-53768","post","type-post","status-publish","format-standard","hentry","category-canada","category-economy","category-forex","category-health-care","category-support","category-technical-analysis","category-u-s-dollar","tag-bank-of-canada","tag-canadian-dollar","tag-coronavirus","tag-covid-19","tag-dxy","tag-fxc","tag-monetary-policy","tag-u-s-dollar-index","tag-usdcad"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Canadian Dollar: GDP and COVID-19 Advantage over the U.S. Dollar - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canadian Dollar: GDP and COVID-19 Advantage over the U.S. Dollar - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"The Bank of Canada (BoC) released its latest Monetary Policy Report on July 15, 2020. Neither the report nor the press conference contained any surprises. The BoC did not change interest rates, kept the crank turning on its Quantitative Easing (QE) program, and promised to &#8220;hold the policy interest rate at the effective lower bound ... Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/\" \/>\n<meta property=\"og:site_name\" content=\"ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-23T05:03:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-07-23T06:07:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/image.png\" \/>\n<meta name=\"author\" content=\"Dr. Duru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@drduru\" \/>\n<meta name=\"twitter:site\" content=\"@drduru\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dr. Duru\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2020\\\/07\\\/22\\\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2020\\\/07\\\/22\\\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\\\/\"},\"author\":{\"name\":\"Dr. Duru\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"headline\":\"Canadian Dollar: GDP and COVID-19 Advantage over the U.S. Dollar\",\"datePublished\":\"2020-07-23T05:03:01+00:00\",\"dateModified\":\"2020-07-23T06:07:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2020\\\/07\\\/22\\\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\\\/\"},\"wordCount\":590,\"commentCount\":2,\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"image\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2020\\\/07\\\/22\\\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2020\\\/07\\\/image.png\",\"keywords\":[\"Bank of Canada\",\"Canadian dollar\",\"coronavirus\",\"COVID-19\",\"DXY\",\"FXC\",\"monetary policy\",\"U.S. dollar index\",\"USD\\\/CAD\"],\"articleSection\":[\"Canada\",\"economy\",\"Forex\",\"Health Care\",\"Support\",\"Technical Analysis\",\"U.S. Dollar\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2020\\\/07\\\/22\\\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2020\\\/07\\\/22\\\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\\\/\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2020\\\/07\\\/22\\\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\\\/\",\"name\":\"Canadian Dollar: GDP and COVID-19 Advantage over the U.S. Dollar - ONE-TWENTY TWO: Trading Financial Markets\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2020\\\/07\\\/22\\\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2020\\\/07\\\/22\\\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2020\\\/07\\\/image.png\",\"datePublished\":\"2020-07-23T05:03:01+00:00\",\"dateModified\":\"2020-07-23T06:07:27+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2020\\\/07\\\/22\\\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2020\\\/07\\\/22\\\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2020\\\/07\\\/22\\\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\\\/#primaryimage\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2020\\\/07\\\/image.png\",\"contentUrl\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2020\\\/07\\\/image.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2020\\\/07\\\/22\\\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Canadian Dollar: GDP and COVID-19 Advantage over the U.S. Dollar\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\",\"name\":\"ONE-TWENTY TWO: Trading Financial Markets\",\"description\":\"Exploring the poetry in financial markets for students of money and economy since the year 2000.\",\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\",\"name\":\"Dr. Duru\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"contentUrl\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"width\":900,\"height\":100,\"caption\":\"Dr. Duru\"},\"logo\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.drduru.com\\\/onetwentytwo\",\"https:\\\/\\\/www.instagram.com\\\/drduru_market_breadth\\\/\",\"https:\\\/\\\/x.com\\\/drduru\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Canadian Dollar: GDP and COVID-19 Advantage over the U.S. Dollar - ONE-TWENTY TWO: Trading Financial Markets","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/","og_locale":"en_US","og_type":"article","og_title":"Canadian Dollar: GDP and COVID-19 Advantage over the U.S. Dollar - ONE-TWENTY TWO: Trading Financial Markets","og_description":"The Bank of Canada (BoC) released its latest Monetary Policy Report on July 15, 2020. Neither the report nor the press conference contained any surprises. The BoC did not change interest rates, kept the crank turning on its Quantitative Easing (QE) program, and promised to &#8220;hold the policy interest rate at the effective lower bound ... Read more","og_url":"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/","og_site_name":"ONE-TWENTY TWO: Trading Financial Markets","article_published_time":"2020-07-23T05:03:01+00:00","article_modified_time":"2020-07-23T06:07:27+00:00","og_image":[{"url":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/image.png","type":"","width":"","height":""}],"author":"Dr. Duru","twitter_card":"summary_large_image","twitter_creator":"@drduru","twitter_site":"@drduru","twitter_misc":{"Written by":"Dr. Duru","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/#article","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/"},"author":{"name":"Dr. Duru","@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"headline":"Canadian Dollar: GDP and COVID-19 Advantage over the U.S. Dollar","datePublished":"2020-07-23T05:03:01+00:00","dateModified":"2020-07-23T06:07:27+00:00","mainEntityOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/"},"wordCount":590,"commentCount":2,"publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"image":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/#primaryimage"},"thumbnailUrl":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/image.png","keywords":["Bank of Canada","Canadian dollar","coronavirus","COVID-19","DXY","FXC","monetary policy","U.S. dollar index","USD\/CAD"],"articleSection":["Canada","economy","Forex","Health Care","Support","Technical Analysis","U.S. Dollar"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/","url":"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/","name":"Canadian Dollar: GDP and COVID-19 Advantage over the U.S. Dollar - ONE-TWENTY TWO: Trading Financial Markets","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#website"},"primaryImageOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/#primaryimage"},"image":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/#primaryimage"},"thumbnailUrl":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/image.png","datePublished":"2020-07-23T05:03:01+00:00","dateModified":"2020-07-23T06:07:27+00:00","breadcrumb":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/#primaryimage","url":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/image.png","contentUrl":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2020\/07\/image.png"},{"@type":"BreadcrumbList","@id":"https:\/\/drduru.com\/onetwentytwo\/2020\/07\/22\/canadian-dollar-gdp-covid-19-advantage-over-us-dollar\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/drduru.com\/onetwentytwo\/"},{"@type":"ListItem","position":2,"name":"Canadian Dollar: GDP and COVID-19 Advantage over the U.S. Dollar"}]},{"@type":"WebSite","@id":"https:\/\/drduru.com\/onetwentytwo\/#website","url":"https:\/\/drduru.com\/onetwentytwo\/","name":"ONE-TWENTY TWO: Trading Financial Markets","description":"Exploring the poetry in financial markets for students of money and economy since the year 2000.","publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/drduru.com\/onetwentytwo\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":["Person","Organization"],"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0","name":"Dr. Duru","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","url":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","contentUrl":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","width":900,"height":100,"caption":"Dr. Duru"},"logo":{"@id":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg"},"sameAs":["http:\/\/www.drduru.com\/onetwentytwo","https:\/\/www.instagram.com\/drduru_market_breadth\/","https:\/\/x.com\/drduru"]}]}},"_links":{"self":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/53768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/comments?post=53768"}],"version-history":[{"count":11,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/53768\/revisions"}],"predecessor-version":[{"id":53784,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/53768\/revisions\/53784"}],"wp:attachment":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/media?parent=53768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/categories?post=53768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/tags?post=53768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}