# Canadian dollar posts biggest loss in 1 month as economy shrinks | Reuters

> The Canadian dollar weakened 0.6% to 1.3595 per US dollar on Friday, its largest one-month decline, as investors cut bets on another Bank of Canada hike after GDP contracted 0.2% annualized in the second quarter. Growth was expected to be flat in July.

- Date: 2023-09-01 · published 2023-09-01T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/34338-canadian-dollar-posts-biggest-loss-in-1-month-as-economy-shrinks-reuters
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Weaker Canadian growth and reduced rate-hike expectations weaken the CAD, which can lower the US-dollar cost of Canadian exports for buyers.

## Read by commodity

- USDCAD: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/canadian-dollar-falls-against-g10-peers-economy-shrinks-2023-09-01/

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