# BREAKING: CAD strengthens slightly after GDP data from Canada | XTB

> Canada's economy grew 0.1% month-over-month in November, below the market expectation of 0.2%. The Canadian dollar strengthened slightly after the data was released. USD/CAD moved lower toward the 1.3410 support level.

- Date: 2023-01-31 · published 2023-01-31T12:00:00.000Z
- Category: report · region Canada · magnitude low
- Page: https://feedsoft.ai/events/38034-breaking-cad-strengthens-slightly-after-gdp-data-from-canada-xtb
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A slightly weaker-than-expected GDP print adds to signs of a slowing Canadian economy, which can reduce domestic demand for feed-related products. The currency reaction was small, so the price impact is limited.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- xtb.com: https://www.xtb.com/en/market-analysis/breaking-cad-strengthens-slightly-after-gdp-data-from-canada

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