# Canadian Dollar Struggles as Risk Appetite Ebbs, GDP Surprise Marred by Sluggish June Estimate

> The Canadian dollar weakened Friday even though Statistics Canada showed May GDP grew 4.5%, above the 3.5% consensus. An advance estimate indicated only modest further growth in June, with Q2 contraction around 12%.

- Date: 2020-07-31 · published 2020-07-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/52349-canadian-dollar-struggles-as-risk-appetite-ebbs-gdp-surprise-marred-by-sluggish
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A weaker loonie and softer Canadian demand have limited direct effect on feed grain prices, though a firmer USD/CAD can pressure Canadian canola and barley export values.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/cad/13814-canadian-dollar-struggles-as-risk-appetite-ebbs-and-may-gdp-surprise-marred-by-limited-improvement-for-june

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