# Market Wire: Canadian Dollar Tumbles as Economy Hits a Brick Wall – Corpay Currency Research

> Canada's economy grew 3.3% quarter-over-quarter in the second quarter, below forecasts, with residential investment falling at an annualized 28% rate. Output grew just 0.1% in June and a preliminary estimate pointed to a 0.1% contraction in July.

- Date: 2022-08-31 · published 2022-08-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/40274-market-wire-canadian-dollar-tumbles-as-economy-hits-a-brick-wall-corpay
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Slowing Canadian growth and a weaker currency point to softer demand and a reduced rate-hike path, with little direct effect on feed grain supply. Price impact on feed commodities is minimal.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- corpaycurrencyresearch.com: https://corpaycurrencyresearch.com/market-wire-canadian-dollar-tumbles-as-economy-hits-a-brick-wall/

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