# C$ falls on GDP miss; posts biggest monthly gain in nearly a year | Financial Post

> The Canadian dollar fell 0.3% against the U.S. dollar after a preliminary estimate showed Canadian GDP was flat in September, below expectations. The loonie still gained 2.4% for October, its first monthly gain since May. Oil futures rose 0.9% to $83.57 a barrel.

- Date: 2021-10-29 · published 2021-10-29T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/44811-c-falls-on-gdp-miss-posts-biggest-monthly-gain-in-nearly-a-year-financial-post
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weaker Canadian growth data pushed USD/CAD higher, though the monthly loonie gain was supported by firmer oil prices. Money markets still expect the Bank of Canada to begin hiking in January.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-12-29 | [Who knew? The loonie is on track for its biggest yearly gain in eight years - Financial Post](https://feedsoft.ai/events/67693-who-knew-the-loonie-is-on-track-for-its-biggest-yearly-gain-in-eight-years.md) | +2.7% | +9.7% |
| WTI | 2025-05-01 | [Canadian dollar posts biggest gain in three months on tariff pause](https://feedsoft.ai/events/25354-canadian-dollar-posts-biggest-gain-in-three-months-on-tariff-pause.md) | -0.2% | +3.9% |
| WTI | 2022-11-04 | [Canadian dollar posts biggest gain in 12 years as jobs surge](https://feedsoft.ai/events/38913-canadian-dollar-posts-biggest-gain-in-12-years-as-jobs-surge.md) | -1.9% | -9.4% |
| WTI | 2026-10-01 | [Pound falls to three-month lows as investors fret over rates, oil \| Financial News](https://feedsoft.ai/events/17320-pound-falls-to-three-month-lows-as-investors-fret-over-rates-oil-financial-news.md) | -2.3% | +12.3% |
| WTI | 2018-01-02 | [Loonie starts the year on a tear, cracking 80 cents with a big boost from oil \| Financial Post](https://feedsoft.ai/events/67204-loonie-starts-the-year-on-a-tear-cracking-80-cents-with-a-big-boost-from-oil.md) | +2.1% | +6.9% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/c-falls-on-gdp-miss-posts-biggest-monthly-gain-in-nearly-a-year

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