# USD/CAD consolidates in a range above 1.3400 mark, Canadian GDP in focus — Octa

> USD/CAD held in a range above 1.3400 on Friday after a strong prior-day bounce. Traders weighed a weak US dollar, stalled US fiscal talks, lower oil prices and the upcoming Canadian GDP release.

- Date: 2020-07-31 · published 2020-07-31T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/52350-usd-cad-consolidates-in-a-range-above-1-3400-mark-canadian-gdp-in-focus-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

Currency moves in USD/CAD affect the relative cost of Canadian oilseed and grain exports, and oil-linked loonie strength reflects energy-demand sentiment.

## Read by commodity

- WTI: neutral
- USDCAD: neutral

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/839741/

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