# Canada's economy stalled in July as previous rate hikes took hold

> Canada's economy stalled in July, edging up slightly, as earlier Bank of Canada rate hikes took effect. The Canadian dollar traded 0.4% higher at 1.3434 per US dollar as the greenback retreated from recent gains.

- Date: 2023-09-29 · published 2023-09-29T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/34335-canada-s-economy-stalled-in-july-as-previous-rate-hikes-took-hold
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Slowing Canadian growth reduces domestic demand pressure, and currency moves against the USD affect the relative cost of Canadian grain and oilseed exports.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/canada-economy-stalled-july-most-likely-grew-by-01-aug-2023-09-29/

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