# Canadian dollar lags G10 currencies as investors dread GDP data | Financial Post

> The Canadian dollar was the only G10 currency to lose ground against the greenback on Thursday after a wider-than-expected current account deficit. Economists expect Canada's economy to have contracted about 10% annualized in the first quarter, with a deeper slump in the second quarter.

- Date: 2020-05-28 · published 2020-05-28T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/53358-canadian-dollar-lags-g10-currencies-as-investors-dread-gdp-data-financial-post
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Expected economic contraction in Canada weighs on energy demand and the loonie, with limited direct effect on feed grain prices.

## Read by commodity

- USDCAD: neutral

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/canadian-dollar-lags-g10-currencies-as-investors-dread-gdp-data

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