# Canadian dollar dips as investors focus on Fed testimony - Markets - Business Recorder

> The Canadian dollar weakened 0.2% against the U.S. dollar on Tuesday as oil prices fell and investors awaited Fed Chair Jerome Powell's congressional testimony. The loonie had rallied the previous day to its biggest gain in nearly seven weeks. Canadian retail data was due the next day.

- Date: 2021-06-22 · published 2021-06-22T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/46835-canadian-dollar-dips-as-investors-focus-on-fed-testimony-markets-business
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Currency swings tied to Fed testimony change the cost of U.S.-dollar-denominated feed ingredients for Canadian buyers. The move is small and reflects routine market positioning rather than a new supply or demand shift.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40102128

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