# Canada Q2 GDP set to grow more than expected, big Sept rate hike seen

> Canada's economy most likely grew at an annualized rate of around 4% in Q2, ahead of expectations, according to a Reuters preview. Markets are also pricing in a large September rate hike by the Bank of Canada, and the loonie traded near 1.2805 per US dollar.

- Date: 2022-07-29 · published 2022-07-29T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/40716-canada-q2-gdp-set-to-grow-more-than-expected-big-sept-rate-hike-seen
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Stronger Canadian growth and expected aggressive tightening support the Canadian dollar against the greenback, which tends to weigh on USD-denominated commodity prices and modestly reduces feed import costs for Canadian buyers.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/world/americas/canada-q2-annualized-gdp-most-likely-grew-46-higher-than-boc-forecast-2022-07-29/

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