# USD/CAD sees a decisive move below 1.2800, US PCE and Canada GDP eyed — Octa

> USD/CAD was hovering near 1.2800 ahead of US PCE inflation data and Canadian GDP. The US dollar index fell after weak US GDP data triggered recession fears, and Canadian GDP was expected to contract in May.

- Date: 2022-07-29 · published 2022-07-29T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/40718-usd-cad-sees-a-decisive-move-below-1-2800-us-pce-and-canada-gdp-eyed-octa
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A softer US dollar and recession concerns shift currency flows and can support dollar-priced commodities, while weak growth signals softer demand for energy and industrial inputs.

## Read by commodity

- DXY: bearish ▼
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-08-31 | [USD/CAD hangs near two-week lows, below 1.2600 mark ahead of Canadian GDP — Octa](https://feedsoft.ai/events/45795-usd-cad-hangs-near-two-week-lows-below-1-2600-mark-ahead-of-canadian-gdp-octa.md) | -0.2% | +0.9% |
| DXY | 2024-07-29 | [EUR/USD extends upside above 1.0850, eyes on Eurozone GDP, Fed rate decision — Octa](https://feedsoft.ai/events/29487-eur-usd-extends-upside-above-1-0850-eyes-on-eurozone-gdp-fed-rate-decision-octa.md) | -0.2% | -1.8% |
| DXY | 2024-07-31 | [USD/CAD extends downside to 1.3800 after US/Canada economic data — Octa](https://feedsoft.ai/events/29503-usd-cad-extends-downside-to-1-3800-after-us-canada-economic-data-octa.md) | -0.5% | -1.9% |
| DXY | 2019-08-29 | [USD/JPY holds weaker below 106.00 handle, US GDP in focus — Octa](https://feedsoft.ai/events/57810-usd-jpy-holds-weaker-below-106-00-handle-us-gdp-in-focus-octa.md) | -0.3% | -0.1% |
| DXY | 2020-11-05 | [Gold Price Analysis: XAU/USD steady near $1,950 after Fed’s decision — Octa](https://feedsoft.ai/events/50079-gold-price-analysis-xau-usd-steady-near-1-950-after-fed-s-decision-octa.md) | -0.8% | -2.9% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/986111/

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