# Loonie on a wild ride as global investors reassess the greenback - The Globe and Mail

> The Canadian dollar reached 74 US cents on Thursday, its strongest level since September 2024, after a more than 3% rise in under two weeks. It slipped to the mid-73-cent range Friday after Trump named Kevin Warsh as next Fed chair, a pick that strengthened the greenback while sending equities and gold lower.

- Date: 2026-01-31 · published 2026-01-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/21282-loonie-on-a-wild-ride-as-global-investors-reassess-the-greenback-the-globe-and
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A stronger loonie and weaker dollar make US-priced feed inputs cheaper for Canadian buyers but reduce Canadian export competitiveness. Dollar weakness generally supports dollar-denominated commodity prices.

## Read by commodity

- DXY: bearish ▼
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-06-20 | [Why investors should prepare for a stronger loonie - The Globe and Mail](https://feedsoft.ai/events/58835-why-investors-should-prepare-for-a-stronger-loonie-the-globe-and-mail.md) | -1.1% | -0.8% |
| DXY | 2020-07-29 | [Canadian dollar gains as investors sell greenbacks on ‘downbeat’ Fed - The Globe and Mail](https://feedsoft.ai/events/52351-canadian-dollar-gains-as-investors-sell-greenbacks-on-downbeat-fed-the-globe.md) | +0.4% | -0.4% |
| DXY | 2019-04-26 | [Canadian dollar rises as U.S. growth composition weighs on greenback - The Globe and Mail](https://feedsoft.ai/events/59816-canadian-dollar-rises-as-u-s-growth-composition-weighs-on-greenback-the-globe.md) | -0.2% | +0.4% |
| DXY | 2018-10-18 | [Rising U.S. bond yields pose risks to greenback - The Globe and Mail](https://feedsoft.ai/events/62718-rising-u-s-bond-yields-pose-risks-to-greenback-the-globe-and-mail.md) | +1.1% | +1.9% |
| DXY | 2021-04-28 | [U.S. growth, deficits to push greenback lower, real yields to support - The Globe and Mail](https://feedsoft.ai/events/47792-u-s-growth-deficits-to-push-greenback-lower-real-yields-to-support-the-globe.md) | +0.3% | -1.0% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/business/article-loonie-on-a-wild-ride-as-global-investors-reassess-the-greenback/

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