USD/CAD slides as Powell turns dovish, Canadian Retail Sales upbeat

After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.

• Jan 29, 2026USD/CAD slides to 1.3530, pressured by bullish Oil and weak USD+0.6%
• Nov 30, 2023US dollar falls on dovish remarks by Fed's Powell+0.6%
• Aug 22, 2025Canadian dollar rallies the most in three months as Fed’s Powell signals possible rate cut - The Globe and Mail-0.7%
• Dec 1, 2020Canadian dollar strengthens as economy grows at a record pace - The Globe and Mail-1.2%
• Jul 29, 2020Canadian dollar gains as investors sell greenbacks on ‘downbeat’ Fed - The Globe and Mail+0.4%

Not enough comparable past events yet for a historical read.

After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% over 20.

• Aug 22, 2025Canadian dollar rallies the most in three months as Fed’s Powell signals possible rate cut - The Globe and Mail-0.6%
• Feb 24, 2021Fed Chair Powell's Dovish Testimony Weakens Dollar Against Pound & Commodities+0.7%
• Mar 13, 2023Dollar slides as Fed rate hike outlook tumbles after SVB collapse+0.8%
• Jul 31, 2017USD: Tide of sentiment has turned against the dollar – BBH — Octa-1.3%
• Jan 29, 2026What the sinking U.S. dollar means to Canada and world-0.3%

After 123 past bullish macro events, Soybeans moved a median +0.3% over 5 sessions (60% higher; middle half -1.0% to +1.8%), and -0.4% over 20.

• Aug 22, 2025Canadian dollar rallies the most in three months as Fed’s Powell signals possible rate cut - The Globe and Mail-0.6%
• Feb 24, 2021Fed Chair Powell's Dovish Testimony Weakens Dollar Against Pound & Commodities+0.6%
• Mar 13, 2023Dollar slides as Fed rate hike outlook tumbles after SVB collapse-2.4%
• Jul 31, 2017USD: Tide of sentiment has turned against the dollar – BBH — Octa-5.1%
• Jan 29, 2026What the sinking U.S. dollar means to Canada and world+1.6%