# USD/CAD rebounds from two-week lows, retakes 1.2600 mark post-Canadian GDP — Octa

> USD/CAD recovered from two-week lows and climbed back above 1.2600 on August 31, 2021. Oil prices slid more than 1% that day, and the Canadian economy's unexpected 1.1% second-quarter contraction weighed on the loonie.

- Date: 2021-08-31 · published 2021-08-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/45792-usd-cad-rebounds-from-two-week-lows-retakes-1-2600-mark-post-canadian-gdp-octa
- 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 oil and a contracting economy undermine the Canadian dollar against the U.S. dollar. The move is a currency market reaction with limited direct consequence for grain or meal prices.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 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) | -1.2% | +8.9% |
| WTI | 2020-06-30 | [USD/CAD clings to modest gains, remains below 1.3700 mark post-Canadian GDP — Octa](https://feedsoft.ai/events/52861-usd-cad-clings-to-modest-gains-remains-below-1-3700-mark-post-canadian-gdp-octa.md) | +2.3% | +3.2% |
| WTI | 2026-07-28 | [Canadian dollar rebounds from two-week low ahead of Fed decision \| Reuters](https://feedsoft.ai/events/18590-canadian-dollar-rebounds-from-two-week-low-ahead-of-fed-decision-reuters.md) | +2.0% | +5.9% |
| WTI | 2021-11-30 | [USD/CAD retreats from two-month high amid weaker USD, Canadian GDP in focus: Analytics and Market news from 30 November 2021 12:04](https://feedsoft.ai/events/44265-usd-cad-retreats-from-two-month-high-amid-weaker-usd-canadian-gdp-in-focus.md) | -0.5% | +8.7% |
| WTI | 2026-07-27 | [Canadian dollar hits near two-week low as oil prices drop \| Reuters](https://feedsoft.ai/events/18591-canadian-dollar-hits-near-two-week-low-as-oil-prices-drop-reuters.md) | -3.3% | -2.6% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/921578/

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