# Canadian Dollar shrugs off upbeat GDP as US Dollar stages a comeback — Octa

> USD/CAD traded near 1.4045 after recovering from a two-week low, despite Canada reporting 0.3% economic growth in May. Markets priced about a 65% chance of a 25-basis-point Fed hike in September after the Fed kept rates at 3.5%-3.75% with three dissenters favoring a hike.

- Date: 2026-07-31 · published 2026-07-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/18589-canadian-dollar-shrugs-off-upbeat-gdp-as-us-dollar-stages-a-comeback-octa
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Expectations of a hawkish Fed keep the US dollar firm against the loonie, which raises import costs for Canadian feed buyers. The move is a currency effect rather than a direct change in feed supply.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- octabroker.com: https://www.octabroker.com/markets/news/view/1246260/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.