# Canadian dollar gains as Fed readies new money market facilities - The Globe and Mail

> The Canadian dollar strengthened against the U.S. dollar and most G10 currencies after the Federal Reserve announced new standing repo facilities to backstop money markets. Canadian annual inflation slowed to 3.1% in June from a decade high in May. U.S. crude settled 1% higher at $72.39 a barrel after a larger-than-expected inventory draw.

- Date: 2021-07-28 · published 2021-07-28T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/46270-canadian-dollar-gains-as-fed-readies-new-money-market-facilities-the-globe-and
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Fed backstops reduce global financial tail risk, supporting risk appetite and commodity demand, while the firmer loonie modestly weighs on Canadian-priced commodity export competitiveness.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-07-29 | [Canadian dollar gains as investors sell greenbacks on ‘downbeat’ Fed - The Globe and Mail](https://feedsoft.ai/events/52351-canadian-dollar-gains-as-investors-sell-greenbacks-on-downbeat-fed-the-globe.md) | +0.4% | -0.4% |
| DXY | 2021-08-30 | [Canadian dollar notches two-week high as Fed taper fears ebb - The Globe and Mail](https://feedsoft.ai/events/45790-canadian-dollar-notches-two-week-high-as-fed-taper-fears-ebb-the-globe-and-mail.md) | -0.7% | +0.4% |
| DXY | 2019-02-26 | [Canadian dollar strengthens as Fed’s patience bruises greenback - The Globe and Mail](https://feedsoft.ai/events/60837-canadian-dollar-strengthens-as-fed-s-patience-bruises-greenback-the-globe-and.md) | +0.5% | +0.2% |
| DXY | 2025-08-22 | [Canadian dollar rallies the most in three months as Fed’s Powell signals possible rate cut - The Globe and Mail](https://feedsoft.ai/events/23555-canadian-dollar-rallies-the-most-in-three-months-as-fed-s-powell-signals.md) | -0.7% | -1.1% |
| DXY | 2020-08-31 | [Canadian dollar rises nearly 3% in August, posting its biggest gain in 14 months - The Globe and Mail](https://feedsoft.ai/events/51854-canadian-dollar-rises-nearly-3-in-august-posting-its-biggest-gain-in-14-months.md) | +0.1% | +1.4% |
| WTI | 2021-11-29 | [Canadian dollar rallies as air of calm returns to financial markets - The Globe and Mail](https://feedsoft.ai/events/44263-canadian-dollar-rallies-as-air-of-calm-returns-to-financial-markets-the-globe.md) | -11.3% | +1.0% |
| WTI | 2023-07-31 | [Canadian dollar notches monthly gain as commodity currencies rally - The Globe and Mail](https://feedsoft.ai/events/35271-canadian-dollar-notches-monthly-gain-as-commodity-currencies-rally-the-globe.md) | +2.8% | -0.4% |
| WTI | 2020-02-19 | [Canadian dollar gains as oil rallies on Chinese stimulus hopes - The Globe and Mail](https://feedsoft.ai/events/54806-canadian-dollar-gains-as-oil-rallies-on-chinese-stimulus-hopes-the-globe-and.md) | -4.3% | -48.2% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-pares-gains-as-national-inflation-rises-less-than/

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