# Canada's GDP likely to surpass central bank's second-quarter forecast

> Canada's GDP figures were released showing growth above expectations, and the Canadian dollar firmed to about 1.3812 per U.S. dollar. Two-year Canadian bond yields rose slightly.

- Date: 2024-07-31 · published 2024-07-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/29497-canada-s-gdp-likely-to-surpass-central-bank-s-second-quarter-forecast
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Stronger Canadian growth reduces the case for faster Bank of Canada rate cuts, supporting the loonie; a firmer CAD modestly affects Canadian export pricing for commodities like canola.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/canadas-economy-track-22-growth-rate-q2-after-topping-may-forecast-2024-07-31/

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