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Canada's June quarter gross domestic product data will be released at 8:30 am ET by Statistics Canada. Analysts expect that the Canadian economy shrank 2.5 percent in the quarter from a 6.1 percent growth in the previous quarter.
The Canadian dollar showed weakness against its major rivals ahead of the data. At present, the loonie is quoted at 1.0643 against the greenback, 79.32 versus the yen and 1.3493 against the euro.
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