# Canadian GDP: The loonie will be agnostic to the data - TDS - Forex Crunch

> TD Securities says Canada's Q1 and March GDP data will capture only the start of the lockdown, so the data should carry little signal for the loonie. The bank expects a roughly 10% annualized decline in GDP, led by a 25% drop in services spending.

- Date: 2020-05-28 · published 2020-05-28T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/53362-canadian-gdp-the-loonie-will-be-agnostic-to-the-data-tds-forex-crunch
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A currency view with no direct effect on feed grain or protein prices.

## Read by commodity

- USDCAD: neutral

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2020/05/28/canadian-gdp-the-loonie-will-be-agnostic-to-the-data-tds/

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