Statistics Canada released GDP (gross domestic product) growth data on Thursday. Canada's GDP growth rose 0.6% in January, exceeding expectations for a 0.3% gain, after a 0.2% increase in December.

The increase was mainly driven by rises in manufacturing, retail trade, and mining, quarrying, and oil and gas extraction.

The mining, quarrying, and oil and gas extraction sector rose 0.9% in January, manufacturing output increased 1.9%, while the retail trade sector climbed 1.5%.