USD/CAD rises as Canadian GDP stalls at 0.0% vs 0.1% forecast

USD/CAD gained 0.2% to 1.4435 following Canada's disappointing November GDP data, which came in flat at 0.0% versus the expected 0.1% growth. The prior month's reading was revised to -0.3%, highlighting persistent economic weakness. Goods-producing industries contracted 0.3% for the third time in four months, with manufacturing and agriculture sectors leading the decline. Services-producing industries provided some offset with modest expansion. The preliminary December GDP estimate of +0.1% offers limited optimism. This weak economic performance strengthens the case for potential Bank of Canada rate cuts, pressuring the Canadian dollar. Technical indicators show USD/CAD testing resistance at 1.4450, with support established at 1.4380. Traders are monitoring the 1.4500 psychological level as the next upside target if Canadian economic weakness persists.