# Canadian dollar rebounds from six-day low as U.S. inflation worries ease - The Globe and Mail

> The Canadian dollar rebounded from a six-day low against the U.S. dollar after a cooler U.S. inflation reading kept the door open to Federal Reserve rate cuts this year. The loonie traded 0.3% higher at 1.3675 per U.S. dollar. Canadian payroll employment rose by 51,400 in March.

- Date: 2024-05-30 · published 2024-05-30T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/30512-canadian-dollar-rebounds-from-six-day-low-as-u-s-inflation-worries-ease-the
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Softer U.S. inflation supports a weaker dollar and firmer Canadian currency, which can make Canadian grain and oilseed exports less competitive. The effect on feed commodity prices is modest.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-rebounds-from-six-day-low-as-us-inflation-worries-ease/

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