# Canadian Dollar Weakens on Soft GDP Data

> The Canadian dollar weakened past 1.378 per USD after Q1 GDP contracted from a year earlier and core inflation slowed to a five-year low. Markets broadly expect the Bank of Canada to hold rates at its June 10 meeting.

- Date: 2026-05-29 · published 2026-05-29T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/19490-canadian-dollar-weakens-on-soft-gdp-data
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Softer data reduces the likelihood of BoC tightening, keeping pressure on the loonie and affecting the USD value of Canadian grain and oilseed exports.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- tradingeconomics.com: https://tradingeconomics.com/canada/currency/news/555066

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