# Canadian Dollar recedes on Friday despite uptick in GDP — Octa

> The Canadian dollar fell against major peers on Friday despite July GDP growth of 0.2% month on month, above forecasts. Attention focused on softer U.S. August PCE inflation, which lifted hopes for further Fed rate cuts.

- Date: 2024-09-28 · published 2024-09-28T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/28560-canadian-dollar-recedes-on-friday-despite-uptick-in-gdp-octa
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Currency moves here reflect U.S. rate expectations rather than commodity fundamentals. The effect on feed input prices is minimal.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/1119413/

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