The CAD is trading within the range that we saw throughout the past couple of days after giving up some of the overnight gains. News today beat expectations but also showed worrying signs of economic contraction. GDP numbers were better than the expected -9.0% but still showed a decrease of 7.2%. RMPI numbers were also negative posting at -13.4% vs. the expected -23.9%. The lone miss on the morning was second tier IPPI coming in at -2.3% compared to -2.0%.