# Global Markets Insights: Mixed retail outlook, USD and CAD get a lift | Article

> The Canadian dollar reached a new six-year high against the US dollar as the Fed signalled a possible reduction in stimulus by August. The US dollar gained briefly after the April FOMC minutes, then gave back most of that gain. Scotiabank analysts also commented on gold and Canadian housing demand.

- Date: 2021-05-25 · published 2021-05-25T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/47333-global-markets-insights-mixed-retail-outlook-usd-and-cad-get-a-lift-article
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Expectations of Fed tapering and a weaker dollar tend to support commodity prices and raise import costs for dollar-based buyers outside the US. Shifts in the currency can change export margins for Canadian grain and oilseed sellers.

## Read by commodity

- DXY: bearish ▼
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-03-03 | [Fed and the FX markets: Tainted carry \| articles \| ING THINK](https://feedsoft.ai/events/7170-fed-and-the-fx-markets-tainted-carry-articles-ing-think.md) | +0.3% | +5.5% |
| DXY | 2023-05-04 | [Outlook on gold as it hits record high, while USD and oil fall after Fed decision \| IG International](https://feedsoft.ai/events/35838-outlook-on-gold-as-it-hits-record-high-while-usd-and-oil-fall-after-fed.md) | -0.5% | +0.8% |
| DXY | 2020-03-02 | [US asset markets: What Fed cuts mean for US Treasuries and the dollar \| articles \| ING THINK](https://feedsoft.ai/events/7151-us-asset-markets-what-fed-cuts-mean-for-us-treasuries-and-the-dollar-articles.md) | -0.8% | +4.0% |
| DXY | 2025-12-11 | [US dollar sags as Fed outlook undermines; Swiss franc gets SNB lift \| Reuters](https://feedsoft.ai/events/21685-us-dollar-sags-as-fed-outlook-undermines-swiss-franc-gets-snb-lift-reuters.md) | -0.4% | -0.4% |
| DXY | 2020-08-31 | [A weak dollar is impacting an uneven global market recovery](https://feedsoft.ai/events/51828-a-weak-dollar-is-impacting-an-uneven-global-market-recovery.md) | +0.1% | +1.4% |

## Sources

- gbm.scotiabank.com: https://www.gbm.scotiabank.com/en/market-insights/article.research-and-market-commentary.global-markets-insights-mixed-retail-outlook,-usd-and-cad-get-a-lift.html

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