# Canadian dollar falls the most in 11 months on U.S. inflation data - The Globe and Mail

> The Canadian dollar posted its biggest one-day decline in nearly a year after hotter-than-expected U.S. consumer price data pushed back expectations for early Federal Reserve rate cuts. The loonie fell 1% to 1.3585 per U.S. dollar, its weakest intraday level since December 13.

- Date: 2024-02-13 · published 2024-02-13T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/31913-canadian-dollar-falls-the-most-in-11-months-on-u-s-inflation-data-the-globe-and
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Higher U.S. rate expectations strengthen the dollar and push USD/CAD up, which raises the cost of Canadian-origin feed inputs priced in U.S. dollars. The move is a currency event with limited direct impact on grain prices.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-falls-the-most-in-11-months-on-us-inflation-data/

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