# Loonie's push past 80 cents may have legs, analysts say, but commodity prices aren't the driving factor - Financial Post

> The Canadian dollar topped 80 US cents over the weekend for the first time since January, driven mainly by hawkish Bank of Canada messaging and rising bond yields. Analysts say commodity prices and oil are playing only a supporting role in the rally.

- Date: 2022-03-29 · published 2022-03-29T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/42496-loonie-s-push-past-80-cents-may-have-legs-analysts-say-but-commodity-prices
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A stronger loonie reduces the Canadian cost of US dollar-priced feed imports, while the article indicates the rally is rate-driven rather than commodity-driven.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- financialpost.com: https://financialpost.com/finance/loonies-push-past-80-cents-may-have-legs-analysts-say-but-commodity-prices-arent-the-driving-factor/

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