# Canadian dollar posts biggest monthly decline in two years

> The Canadian dollar stayed near a 12-week low against the U.S. dollar at about 1.39 per U.S. dollar and fell 2.8% in October, its biggest monthly drop since September 2022. The decline followed flat August GDP and risk aversion in global markets, including a UK gilt sell-off.

- Date: 2024-10-31 · published 2024-10-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/28113-canadian-dollar-posts-biggest-monthly-decline-in-two-years
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A weaker loonie makes Canadian-origin feed inputs such as canola meal cheaper in U.S. dollars and raises the cost of imported U.S. feed grains for Canadian buyers. Currency moves like this feed directly into landed feed costs.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- livemint.com: https://www.livemint.com/news/canadian-dollar-posts-biggest-monthly-decline-in-two-years-11730402069456.html

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