# C$ pares monthly gain as data shows record economic contraction - Markets - Business Recorder

> The Canadian dollar weakened 0.2% against the US dollar on June 30 as Sino-US tensions rose and Statistics Canada reported real GDP fell 11.6% in April. The decline was smaller than the 13% analysts expected, while a flash estimate showed a 3% rebound in May. US crude fell 1.8% to $38.99 a barrel.

- Date: 2020-06-30 · published 2020-06-30T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/52858-c-pares-monthly-gain-as-data-shows-record-economic-contraction-markets-business
- 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 CAD affect Canadian feed buyers' import costs, and the weaker oil price lowers energy-linked input costs. The macro backdrop has limited direct impact on grain or feed prices.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-08-31 | [Canadian dollar retreats after surprise GDP contraction - Markets - Business Recorder](https://feedsoft.ai/events/45791-canadian-dollar-retreats-after-surprise-gdp-contraction-markets-business.md) | -1.2% | +8.9% |
| WTI | 2022-03-16 | [Palm extends losses - Markets - Business Recorder](https://feedsoft.ai/events/5497-palm-extends-losses-markets-business-recorder.md) | +15.4% | +4.3% |
| WTI | 2020-08-20 | [Oil falls on OPEC+ oversupply, US jobless data - Markets - Business Recorder](https://feedsoft.ai/events/51783-oil-falls-on-opec-oversupply-us-jobless-data-markets-business-recorder.md) | +0.8% | -4.5% |
| WTI | 2021-05-19 | [US MIDDAY: Soyabean, wheat and corn plunge - Markets - Business Recorder](https://feedsoft.ai/events/12365-us-midday-soyabean-wheat-and-corn-plunge-markets-business-recorder.md) | +1.1% | +10.0% |
| WTI | 2022-11-28 | [C$ hits one-week low as China protests rattle investors - Markets - Business Recorder](https://feedsoft.ai/events/38912-c-hits-one-week-low-as-china-protests-rattle-investors-markets-business-recorder.md) | +4.6% | +4.2% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40001955

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