# Will the Canadian Dollar Soar This Summer? - Interchange Currency Exchange

> The Canadian dollar showed resilience against a stronger US dollar in the week of June 24 to 28, after a brief rise following hot inflation data. A Canadian GDP release was steady, and US data showed slower growth and a rise in jobless claims. Analysts expected the Bank of Canada to pause in July and the Fed to begin cutting in September.

- Date: 2024-06-28 · published 2024-06-28T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/30029-will-the-canadian-dollar-soar-this-summer-interchange-currency-exchange
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations for diverging central bank paths shape the loonie and dollar, which affect the cost of US and Canadian exports to feed buyers. The commentary is an outlook piece with little direct price impact.

## Read by commodity

- DXY: neutral
- USDCAD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-05-30 | [Could the euro topple the U.S. dollar as the world's reserve currency?](https://feedsoft.ai/events/24904-could-the-euro-topple-the-u-s-dollar-as-the-world-s-reserve-currency.md) | -0.5% | -1.6% |
| DXY | 2018-02-28 | [MUFG: No Guarantee Higher Rates Will Result In A Stronger Dollar \| Exchange Rates UK](https://feedsoft.ai/events/66700-mufg-no-guarantee-higher-rates-will-result-in-a-stronger-dollar-exchange-rates.md) | -0.1% | -0.5% |
| DXY | 2022-07-22 | [Will the dollar surge in the second half of 2022? - OMFIF](https://feedsoft.ai/events/40690-will-the-dollar-surge-in-the-second-half-of-2022-omfif.md) | -0.6% | -0.4% |
| DXY | 2018-02-23 | [Chinese yuan against the dollar: China currency appreciation](https://feedsoft.ai/events/66714-chinese-yuan-against-the-dollar-china-currency-appreciation.md) | +0.6% | -0.6% |
| DXY | 2018-09-14 | [GBP/USD: Will A Deluge Of US Data Pull Dollar Lower vs. Pound? - Currency Live](https://feedsoft.ai/events/63287-gbp-usd-will-a-deluge-of-us-data-pull-dollar-lower-vs-pound-currency-live.md) | -0.4% | +0.4% |

## Sources

- interchangefinancial.com: https://www.interchangefinancial.com/blog/will-the-canadian-dollar-soar-this-summer/

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