# Canadian dollar strengthens 0.3pc - Business & Finance - Business Recorder

> The Canadian dollar rose 0.3% to 1.2730 per US dollar, its highest in more than three weeks, and posted a second straight weekly gain. Oil was up 0.5% at $114.70 a barrel as market volatility eased.

- Date: 2022-05-30 · published 2022-05-30T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/41647-canadian-dollar-strengthens-0-3pc-business-and-finance-business-recorder
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A firmer loonie makes Canadian-origin imports cheaper in US dollar terms and reflects steady commodity demand. The move is a routine currency update with limited direct effect on feed grain prices.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40176463

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