# Canadian dollar falls to one-week low as COVID-19 outbreaks hit sentiment - The Globe and Mail

> The Canadian dollar weakened for a second day against the U.S. dollar, trading 0.2% lower at 1.2364 per greenback. The safe-haven U.S. dollar gained as Australia and several Asian countries reimposed lockdowns to contain the Delta variant. Oil rose 1% to $73.55 a barrel while copper fell for a fourth day.

- Date: 2021-06-29 · published 2021-06-29T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/46832-canadian-dollar-falls-to-one-week-low-as-covid-19-outbreaks-hit-sentiment-the
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Lockdown-driven risk aversion strengthens the U.S. dollar against the loonie, which raises the cost of Canadian-origin feed inputs and affects import-cost calculations for buyers. Softer copper and firmer oil point to mixed signals for Canada's commodity-linked currency.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-falls-to-one-week-low-as-covid-19-outbreaks-hit/

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