# Canadian dollar pares decline after Trump tariff pledge shock

> The Canadian dollar recovered some of its losses against the US dollar on Tuesday after Trump's pledge of hefty tariffs on Canadian products. The loonie traded 0.5% lower at 1.4060 per US dollar after hitting its weakest intraday level since April 2020 at 1.4177. Investors were weighing how likely the tariffs were to be implemented.

- Date: 2024-11-26 · published 2024-11-26T12:00:00.000Z
- Category: trade · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/27651-canadian-dollar-pares-decline-after-trump-tariff-pledge-shock
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Tariffs on Canadian goods threaten trade flows into the US, and a weaker loonie raises the cost of Canadian-origin inputs for buyers. Currency weakness can also shift the competitiveness of Canadian grain and oilseed exports.

## Read by commodity

- DXY: bullish ▲
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-01-31 | [Canadian dollar tanks, gold soars as Donald Trump vows tariffs](https://feedsoft.ai/events/26755-canadian-dollar-tanks-gold-soars-as-donald-trump-vows-tariffs.md) | +0.1% | +0.1% |
| DXY | 2024-11-26 | [Dollar jumps, stocks retreat after Trump vows tariffs](https://feedsoft.ai/events/27637-dollar-jumps-stocks-retreat-after-trump-vows-tariffs.md) | -0.0% | +1.1% |
| DXY | 2024-11-26 | [Morning Bid: Trump tariff threat jolts Canadian dollar, peso, yuan \| Reuters](https://feedsoft.ai/events/27607-morning-bid-trump-tariff-threat-jolts-canadian-dollar-peso-yuan-reuters.md) | -0.0% | +1.1% |
| DXY | 2024-11-26 | [Trump tariff vow hits Mexican and Canadian currencies, yen firm \| Reuters](https://feedsoft.ai/events/27632-trump-tariff-vow-hits-mexican-and-canadian-currencies-yen-firm-reuters.md) | -0.0% | +1.1% |
| DXY | 2024-11-26 | [USD/CAD Spikes After Trump's Tariff Threats; Could Volatility Open Opportunities? \| Investing.com](https://feedsoft.ai/events/27657-usd-cad-spikes-after-trump-s-tariff-threats-could-volatility-open-opportunities.md) | -0.0% | +1.1% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/canadian-dollar-pares-decline-after-trump-tariff-pledge-shock-2024-11-26/

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