# USD/CAD: Loonie Strengthens Despite Strong Greenback; Depreciation Risk Remains High | FXEmpire

> The Canadian dollar strengthened against the US dollar on Thursday even as the greenback hit a one-year high against a basket of currencies. The USD/CAD pair fell to 1.2671 from Wednesday's close of 1.2754.

- Date: 2021-09-30 · published 2021-09-30T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/45280-usd-cad-loonie-strengthens-despite-strong-greenback-depreciation-risk-remains
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Dollar strength driven by expected Fed tightening can weigh on dollar-priced grain and oilseed markets, though the direct feed price effect is modest.

## Read by commodity

- DXY: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-10-31 | [USD/CAD: Risk appetite to be challenging for a while longer, weighing on the loonie – HSBC — Octa](https://feedsoft.ai/events/39350-usd-cad-risk-appetite-to-be-challenging-for-a-while-longer-weighing-on-the.md) | -0.1% | -2.8% |
| DXY | 2022-09-26 | [USD reaches high price, currencies depreciate to record low](https://feedsoft.ai/events/39883-usd-reaches-high-price-currencies-depreciate-to-record-low.md) | +0.2% | +0.6% |
| DXY | 2026-06-24 | [US dollar strengthens to 13-month high on Fed rate hike expectations \| Reuters](https://feedsoft.ai/events/11985-us-dollar-strengthens-to-13-month-high-on-fed-rate-hike-expectations-reuters.md) | -0.1% | -0.4% |
| DXY | 2025-07-31 | [Canadian Dollar heads for a sixth straight loss as Loonie falls under the Greenback wheel](https://feedsoft.ai/events/23974-canadian-dollar-heads-for-a-sixth-straight-loss-as-loonie-falls-under-the.md) | -0.7% | -0.6% |
| DXY | 2024-01-30 | [Loonie Dips Amid US Dollar Strength; Eyes Fed Rate Decision, Economic Data](https://feedsoft.ai/events/32337-loonie-dips-amid-us-dollar-strength-eyes-fed-rate-decision-economic-data.md) | +0.4% | +0.1% |

## Sources

- fxempire.com: https://www.fxempire.com/forecasts/article/usd-cad-loonie-strengthens-despite-strong-greenback-depreciation-risk-remains-high-782474

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