# Canadian dollar steadies as investors reassess Fed outlook - The Globe and Mail

> The Canadian dollar was little changed against the U.S. dollar, holding the week's gains as oil rose and Fed Chair Jerome Powell said the central bank would not rush to hike rates. The loonie had clawed back part of the prior week's decline after the Fed's hawkish shift. U.S. crude futures settled 0.3% higher at $73.08 a barrel.

- Date: 2021-06-23 · published 2021-06-23T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/46833-canadian-dollar-steadies-as-investors-reassess-fed-outlook-the-globe-and-mail
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Expectations that the Fed will stay accommodative weaken the U.S. dollar and support Canadian commodity export currencies. For feed buyers, a steadier loonie leaves Canadian-priced input costs largely unchanged in the near term.

## Read by commodity

- USDCAD: neutral

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-notches-a-six-day-high-as-us-federal-reserve-chair/

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