# USD/CAD: U.S. Dollar Weakness Pushes Loonie to Two-Week High; Volatility To Last | FXEmpire

> The Canadian dollar rose to a two-week high against the U.S. dollar as the greenback fell to a month low after the Federal Reserve reiterated that rates will stay at zero for a long time. Canada's headline inflation eased to 3.1% in June from 3.6% in May. The loonie had fallen about 3% in June.

- Date: 2021-07-29 · published 2021-07-29T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/46271-usd-cad-u-s-dollar-weakness-pushes-loonie-to-two-week-high-volatility-to-last
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker U.S. dollar tends to support dollar-denominated commodity prices, while Fed guidance on prolonged low rates keeps financial conditions loose for commodity markets.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-12-03 | [Dollar's weakness pushes won to 30-month high](https://feedsoft.ai/events/49890-dollar-s-weakness-pushes-won-to-30-month-high.md) | -0.5% | -1.2% |
| DXY | 2017-09-20 | [Australian dollar pushed higher by US dollar weakness - ABC News](https://feedsoft.ai/events/69181-australian-dollar-pushed-higher-by-us-dollar-weakness-abc-news.md) | +1.1% | +1.9% |
| DXY | 2026-01-28 | [Korean won rises to 3-month high amid broad weakness of U.S. dollar \| Yonhap News Agency](https://feedsoft.ai/events/21272-korean-won-rises-to-3-month-high-amid-broad-weakness-of-u-s-dollar-yonhap-news.md) | +0.4% | +0.3% |
| DXY | 2020-02-28 | [Virus panic sends yen to seven-week high against dollar](https://feedsoft.ai/events/54814-virus-panic-sends-yen-to-seven-week-high-against-dollar.md) | -0.5% | +4.3% |
| DXY | 2022-05-04 | [Dollar falls to one-week low as Powell pushes back against 75 bp hike \| Reuters](https://feedsoft.ai/events/41619-dollar-falls-to-one-week-low-as-powell-pushes-back-against-75-bp-hike-reuters.md) | +0.9% | -0.8% |

## Sources

- fxempire.com: https://www.fxempire.com/forecasts/article/usd-cad-u-s-dollar-weakness-pushes-loonie-to-two-week-high-volatility-to-last-759974

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