# USD/CAD surrenders early gains to 1-week tops, Canadian GDP/US data in focus — Octa

> USD/CAD retreated from the 1.3100 area on July 31, 2018 as crude oil prices eased. Traders were awaiting Canadian monthly GDP and U.S. personal income and spending data.

- Date: 2018-07-31 · published 2018-07-31T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/64255-usd-cad-surrenders-early-gains-to-1-week-tops-canadian-gdp-us-data-in-focus-octa
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Currency moves of this size have limited direct effect on feed prices, though a weaker loonie can marginally shift Canadian export competitiveness for grains and oilseeds.

## Read by commodity

- USDCAD: neutral

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/594804/

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