Loonie drops in value as economic data disappoints

Loonie drops in value as economic data disappoints

Loonie drops in value as economic data disappoints The latest GDP figures released on Friday by Statistics Canada saw the Canadian dollar drop in value by around two-thirds of a cent. Economists had predicted a flat GDP result for August but there was a decline of 1 per cent. Analysts say that the drop is not a major concern and is still ‘respectable’. The loonie was put under additional pressure from Japan where the central bank upgraded a stimulus program.