# Canada GDP Canadian Dollar - Business Insider

> Statistics Canada reported that the economy grew at an annualized 4.5% quarter-over-quarter rate in the second quarter. The Canadian dollar rose 0.7% to 1.2537 against the US dollar shortly after the release.

- Date: 2017-08-31 · published 2017-08-31T12:00:00.000Z
- Category: macro · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/69709-canada-gdp-canadian-dollar-business-insider
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Stronger Canadian growth supports the loonie and raises the odds of central bank tightening, which tends to pressure Canadian-linked commodity demand and canola prices in USD terms.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- businessinsider.com: https://www.businessinsider.com/canada-gdp-canadian-dollar-2017-8

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