# USD/CAD Canadian Dollar Lower After US GDP Improvement And Tax Reform Talk - ActionForex

> The Canadian dollar weakened after ADP reported 237,000 US private payroll gains and US second-quarter GDP was revised up to 3.0%. Hurricane Harvey has taken roughly 24% of US refining capacity offline, pushing gasoline up while crude fell on a supply glut.

- Date: 2017-08-31 · published 2017-08-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/69712-usd-cad-canadian-dollar-lower-after-us-gdp-improvement-and-tax-reform-talk
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A stronger US dollar and a refinery outage that weighs on crude prices both pressure Canadian-dollar-linked commodity values, while gasoline strength reflects refined-product tightness rather than crude scarcity.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-08-31 | [Canadian dollar steadies after ‘limited’ reaction to GDP miss - The Globe and Mail](https://feedsoft.ai/events/45789-canadian-dollar-steadies-after-limited-reaction-to-gdp-miss-the-globe-and-mail.md) | -1.2% | +8.9% |
| WTI | 2017-03-27 | [Lack of Fundamentals Leave Canadian Dollar Unchanged - ActionForex](https://feedsoft.ai/events/72219-lack-of-fundamentals-leave-canadian-dollar-unchanged-actionforex.md) | +6.4% | +3.1% |
| WTI | 2020-10-29 | [Euro Down after ECB, Oil Tumbles, Dollar and Yen Rise - ActionForex](https://feedsoft.ai/events/50842-euro-down-after-ecb-oil-tumbles-dollar-and-yen-rise-actionforex.md) | +4.6% | +22.3% |
| WTI | 2018-11-30 | [Baystreet.ca - USD/CAD - GDP Could Boost Canadian Dollar](https://feedsoft.ai/events/62277-baystreet-ca-usd-cad-gdp-could-boost-canadian-dollar.md) | +0.1% | -12.1% |
| 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% |

## Sources

- actionforex.com: https://www.actionforex.com/contributors/fundamental-analysis/38845-usd-cad-canadian-dollar-lower-after-us-gdp-improvement-and-tax-reform-talk/

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