# C$ snaps back to near two-year high after GDP surprise

> The Canadian dollar rallied to two-year highs against the U.S. dollar after Statistics Canada reported May GDP growth of 0.6 percent, well above the 0.2 percent forecast. Two-year Canadian bond yields climbed toward U.S. Treasury levels as traders priced in another Bank of Canada rate hike.

- Date: 2017-07-28 · published 2017-07-28T12:00:00.000Z
- Category: macro · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/70216-c-snaps-back-to-near-two-year-high-after-gdp-surprise
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A stronger loonie makes Canadian grain, canola and meal more expensive for foreign buyers, which can weigh on export demand and prices in Canadian-origin feed ingredients.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/article/business/c-snaps-back-to-near-two-year-high-after-gdp-surprise-idUSL1N1KJ1T1/

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