# Canada's economy unexpectedly grows in July, though momentum slows

> Canada's economy unexpectedly grew 0.1% in July, though momentum slowed in subsequent months. The Canadian dollar traded 0.4% lower at 1.3661 to the U.S. dollar. The Bank of Canada had earlier raised rates by 75 basis points to fight inflation.

- Date: 2022-09-29 · published 2022-09-29T12:00:00.000Z
- Category: report · region Canada · magnitude low
- Page: https://feedsoft.ai/events/39817-canada-s-economy-unexpectedly-grows-in-july-though-momentum-slows
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Economic data has limited direct effect on feed grain prices, but the currency move affects the cost of Canadian and US feed ingredients for buyers on both sides of the border.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/us/canadian-economy-surprises-with-01-growth-july-august-seen-flat-2022-09-29/

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