• Canadian economy expanded by 0.8% on a monthly basis in October as expected.
• USD/CAD continues to move sideways above 1.2800 after the data.

Canada's Real Gross Domestic Product (GDP) expanded at a monthly rate of 0.8% in October following September's growth of 0.2%, the data published by Statistics Canada showed on Thursday. This reading came in line with the market expectation.

Further details of the report revealed that the flash estimate for November's monthly growth was left virtually unchanged at 0.3%.

"Leading the growth were accommodation and food services, wholesale trade, construction and the arts and entertainment sectors, while the mining, quarrying, and oil and gas extraction sector offset some of the gains," the publication read.

Market reaction

The USD/CAD pair showed no immediate reaction to these figures and was last seen trading flat on the day at 1.2830.