The Canadian dollar advanced further against major currencies after the release of some economic reports in North American mid-morning deals on Friday. According to Statistics Canada, the real gross domestic product increased by 0.1% in May after being unchanged in April.

There was no revision to last month's report. Economists were looking for economic activity to rise 0.2%.

Goods-producing industries rose 0.6%, led by oil and gas extraction. Construction and utilities fell back while manufacturing activity edged up.

The loonie extended its previous session uptrend against its US counterpart in mid-day deals today. At 12:15 pm ET the loonie climbed to a fresh multi-day low of 1.0267 versus the greenback, compared to yesterday's close of 1.0363.

According to a report released by the U.S. Commerce Department today, the gross domestic product increased at an annual rate of 2.4 percent in the second quarter compared to the revised 3.7 percent jump seen in the first quarter. Economists had expected GDP to increase by 2.5 percent compared to the 2.7 percent growth that had been reported for the first quarter.

After touching an 8-day low of 83.11 at around 8:45 am ET, the loonie surged up against the Japanese yen and hit a high of 84.22 within 2 hours. The loonie-yen pair that closed Thursday's New York session at 83.80, is now trading at 84.01.

The Canadian currency that touched a low of 0.9349 at about 9:40 am ET versus the Australian dollar, reversed its direction thereafter. Currently, the loonie is worth 0.9296 versus the Aussie, which may be compared to yesterday's closing value of 0.9334.

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