# Canada's Q2 GDP growth lags expectations; contraction seen in July

> 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.

- Date: 2022-08-31 · published 2022-08-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/40273-canada-s-q2-gdp-growth-lags-expectations-contraction-seen-in-july
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

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.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/us/canadas-q2-gdp-growth-lags-expectations-contraction-seen-july-2022-08-31/

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