# Canadian Dollar Boosted by Economy's Resilience

> The Canadian dollar outperformed sterling and other majors after Statistics Canada reported that the economy was more resilient in May than expected. Analysts said Q2 growth ran near 4.5% annualized, supporting further Bank of Canada tightening.

- Date: 2022-07-29 · published 2022-07-29T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/40719-canadian-dollar-boosted-by-economy-s-resilience
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Stronger Canadian data and hawkish central bank expectations support the loonie, which can pressure USD-priced commodities slightly.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/cad/17324-canadian-dollar-bears-down-on-gbp-cad-as-economy-tells-boc-to-go-take-a-hike

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