# Canada's GDP rebounds in January, likely up 0.4% in February

> Canada's GDP rose in January and a preliminary estimate showed February growth of about 0.4%. The loonie pared losses to trade near 1.3579 per US dollar, and two-year yields rose.

- Date: 2024-03-28 · published 2024-03-28T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/31431-canada-s-gdp-rebounds-in-january-likely-up-0-4-in-february
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Stronger Canadian growth reduces pressure on the Bank of Canada to cut rates, which supports the Canadian dollar and slightly weakens USD/CAD; the effect on feed grain prices is minimal.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/canadas-gdp-outperforms-jan-growth-forecast-likely-grew-04-feb-2024-03-28/

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