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Canada's second-quarter GDP growth came in below expectations, and economic activity is seen contracting in July. Housing investment dropped sharply as higher interest rates cooled the real estate market, and the Canadian dollar traded near 1.31 per US dollar after the release.
A weakening Canadian economy reduces domestic demand and softens the currency outlook, which has limited direct effect on feed commodity prices. The story is primarily macro context for currency and rate expectations.
reuters.comJulie GordonAug 31, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
